You will be redirected back to your article in seconds

Financial Briefs

PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago.

The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.”

* * *

Dick Clark Productions Inc. reported less red ink for the first quarter of its fiscal 1993 Friday, with a net loss of $ 76,000 (1 cents a share), compared to a net loss of $ 404,000 (5 cents) for the comparable period last year.

First-quarter revenues rose 86% to $ 9.27 million, compared to revenues of nearly $ 5 million for the year prior period.

* * *

Image Entertainment Inc. posted a net loss of $ 622,884 (5 cents a share) for the second fiscal quarter, ended Sept. 30. The laserdisc distributor reported a net loss of $ 199,109 (2 cents) for the same period last year. Revenues at the Chatsworth-based company were up 32% to $ 16.9 million.

The company recorded an operating income of $ 86,000, compared to nearly a $ 1 milion loss in the first quarter.

* * *

Standard & Poor’s upped its ratings on debt issued by Orion Pictures Corp. Friday, though the company still remains in the “junk” category.

The agency assigned its CCC- rating to Orion’s $ 50 million 10% subordinated debentures due 2001, which have been issued to holders of the company’s previously outstanding $ 290 million of subordinated debt.

* * *

Trimark Holdings announced that its net earnings for the three months ended Sept. 30 dropped 71% to $ 245,000 (5 cents per share) compared to $ 849,000 (18 cents) for the comparable period a year ago.

Revenues for 1993 fiscal first quarter were essentially flat: $ 10 million, compared to $ 9.9 million in the prior year period. Film costs and distribution expenses rose 10% to $ 7.5 million during the fiscal 1993 quarter compared to $ 6.8 million a year ago. Trimark shares fell 50 cents to $ 4.25 Friday.

More Biz

  • Oprah Celebrates 'Wisdom of Sundays' With

    Oprah Winfrey Celebrates New Book 'Wisdom of Sundays' With Star-Studded Gospel Brunch

    PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago. The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.” * * * Dick Clark Productions Inc. reported […]

  • Korean Talent Agency YG Seeks SE

    Korean Talent Agency YG Seeks Southeast Asia Breakthrough

    PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago. The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.” * * * Dick Clark Productions Inc. reported […]

  • WME, IMG Combine Film and TV

    WME, IMG Combine Film and TV Sales Operations Under Endeavor Content Banner

    PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago. The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.” * * * Dick Clark Productions Inc. reported […]

  • Roy Price and Lila Feinberg'The Last

    Amazon Exec Roy Price's Fiancée Cancels Wedding After Sexual Harassment Allegations

    PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago. The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.” * * * Dick Clark Productions Inc. reported […]

  • Charles Harder

    Harvey Weinstein Splits with Lawyer Handling NYT Lawsuit, Suit Not Yet Filed

    PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago. The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.” * * * Dick Clark Productions Inc. reported […]

  • James CordenCreative Arts Emmy Awards, Press

    James Corden on Harvey Weinstein amfAR Jokes: 'I Am Truly Sorry for Anyone Offended"

    PaineWebber Inc. lowered its investment rating on Blockbuster Entertainment Corp. to “attractive” from “buy” Friday, noting that the company’s stock price has risen about 22% from a month ago. The rating change was due to a “higher level of risk” and dubs Blockbuster a “very volatile stock.” * * * Dick Clark Productions Inc. reported […]

More From Our Brands

Access exclusive content