Following the better-than-expected quarterly earnings results by the Studios and a summer full of expected massive box office hits, the Wall Street investors are watching the studio stocks with immense concentration.Image may be NSFW.
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The Shares of Twenty-First Century Fox have gained nearly 7% to $33.49 after the company announced their third quarter earnings report that surpassed the analysts’ expectations.
Fox also forecasted that their profits will be expanding at least till June 2016. The broadcast revenue has increase 27% despite the bad ratings to some of their shows like American Idol and The X Factor. The studio will soon be releasing potentially huge and eagerly-anticipated box office hits like X-Men: Days of Future Past, that will be released on May 23, How to Train Your Dragon 2 scheduled to be released on June 23 and Dawn of the Planet of the Apes coming into theatres on July 11.
Lions Gate Entertainment stocks have also increased as they saw a 2% climb and ended at $26.01 per share. The stocks were given a boost after the studio announced that are working on a live action Power Rangers movie.
Viacom, who’s Paramount Studio had released The Amazing Spider-Man 2 last week and made a massive box office opening of $91.6 million over the first weekend, is all set to release the latest of the Transformers franchise, Transformer: Age of Distinction on June 27. The company stock increased 1% to $83.93.
