You will be redirected back to your article in seconds

New Line up in heavy trading

New Line Cinema Corp. had a terrific run on Wall Street yesterday on an upbeat analyst report.

The indie’s stock climbed 7.2% to close at $ 14.875 with some 485,000 shares trading hands, a tremendous volume compared to an average daily turnover of 18, 900.

The move came after a report by Goldman Sachs & Co. analyst Richard Simon upgraded the stock to “trading buy” from “market performer” yesterday morning.

The analyst says the change reflects his belief that because of the company’s relatively small size, the stock can benefit notably in the short term from some soon-to-be-released films if they become hits.

“It’s risky to speculate about new movies,” he says, but should “National Lampoon’s Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III” do well, they could have a significant effect on earnings. New Line is distributing the two films.

Simon has established a 1993 earnings range of 80 cents to $ 1.60 a share for New Line.

More Biz

  • America Ferrera32nd Annual Imagen Awards, Arrivals,

    America Ferrera Recounts Her Sexual Assault: 'I Was Nine Years Old'

    New Line Cinema Corp. had a terrific run on Wall Street yesterday on an upbeat analyst report. The indie’s stock climbed 7.2% to close at $ 14.875 with some 485,000 shares trading hands, a tremendous volume compared to an average daily turnover of 18, 900. The move came after a report by Goldman Sachs & […]

  • Lauren HollyAmerican Heart Association Go Red

    Lauren Holly Describes Harvey Weinstein Harassment: 'I Wanted to Flee'

    New Line Cinema Corp. had a terrific run on Wall Street yesterday on an upbeat analyst report. The indie’s stock climbed 7.2% to close at $ 14.875 with some 485,000 shares trading hands, a tremendous volume compared to an average daily turnover of 18, 900. The move came after a report by Goldman Sachs & […]

  • Korean Talent Agency YG Seeks SE

    Korean Talent Agency YG Seeks Southeast Asia Breakthrough

    New Line Cinema Corp. had a terrific run on Wall Street yesterday on an upbeat analyst report. The indie’s stock climbed 7.2% to close at $ 14.875 with some 485,000 shares trading hands, a tremendous volume compared to an average daily turnover of 18, 900. The move came after a report by Goldman Sachs & […]

  • WME, IMG Combine Film and TV

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

    New Line Cinema Corp. had a terrific run on Wall Street yesterday on an upbeat analyst report. The indie’s stock climbed 7.2% to close at $ 14.875 with some 485,000 shares trading hands, a tremendous volume compared to an average daily turnover of 18, 900. The move came after a report by Goldman Sachs & […]

More From Our Brands

Access exclusive content