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

  • Li Ruigang

    Li Ruigang Runs out of Time in Controversial TVB Takeover

    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 […]

  • Famed Fantasy Author Ursula K. Le

    Ursula K. Le Guin, Acclaimed Fantasy Author, Dies at 88

    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 […]

  • BAFTA L.A. and N.Y. Elect New

    BAFTA L.A., N.Y. Announce New Chair, Board Members

    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 […]

  • Controversial Radio Host Don Imus Stepping

    Controversial Radio Host Don Imus Stepping Down

    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 […]

  • Maria Contreras-sweet Us Administrator of the

    Maria Contreras-Sweet Investor Group Closes in on Weinstein Co. Acquisition

    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 […]

  • Lowell McAdam

    Verizon CEO: Telco 'Unequivocally' Is Not Hunting for a Media M&A Deal

    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 […]

  • Yueting (“YT”) Jia LeEco CEO

    LeEco Unit to Resume Share Listing as Restructuring Continues

    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