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AMC Entertainment Holdings stock price
AMC Entertainment Holdings latest news:
Investors are misinterpreting positive benefit of $10 MoviePass on cinemas
MoviePass, a movie theater subscription service, on Tuesday unveiled plans to lower the cost of its subscription to $10 a month from $30-and-up. Shares of AMC Entertainment Holdings Inc. , which have already been beaten up recently, fell as much as 5.8% during the day. It was followed down by shares of Imax Corp. , which fell 2.4%, Regal Entertainment Group's 1.9% drop, Marcus Corp.'s 1.5% fall, while Cinemark Holdings fell as much as 1%. MoviePass allows members to see a movie a day for just $10 a month. B. Riley analyst Eric Wold wrote in a note to investors that he believed investors were misinterpreting the MoviePass news as a negative for the box office and film exhibitors. "The key thing to keep in mind is that MoviePass cannot do this in a bubble -- they needed the approval of both studios and exhibitors, who would not sign off on anything that was detrimental to their financial outlook," Wold wrote. "Studios and exhibitors are not taking a discount under the MoviePass model. We understand that MoviePass is absorbing the ticket discount and hoping to make up the discount through monetizing the data and the breakage." Wold said this is a positive for the cinema group as well as box office and concession results, though he believes it will be a small benefit. Shares of AMC have declined nearly 61% in the year to date, while Imax shares are down nearly 41%, Regal Entertainment and Marcus Corp shares are both down almost 19% and shares of Cinemark are down 6%. By comparison, the S&P 500 index is up more than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Cinema stocks continue to suffer as AMC shares fall nearly 5%
Shares of cinema chain AMC Entertainment Holding Inc. were down as much as 4.8% during intraday trade on Thursday. The stock's move led a selloff in the cinema group, with Regal Entertainment Group , Cinemark Holdings Inc. , Marcus Corp. and Imax Corp. were all down nearly 2%. There was no news to point to for the share moves, but cinema stocks, and AMC in particular, have had a rough go of it recently as poor box office returns have dominated headlines, dragging down quarterly earnings and threats of shrinking theatrical windows and digital disruption continue to loom. Earlier this week, Walt Disney Co. , which has for a long time steered clear of certain streaming shifts, said it plans to launch its own standalone streaming service for its content in 2019 and end its current licensing deal with Netflix Inc. . "The industry is facing several issues, which is causing people to question the cyclical vs. structural issues for the industry," wrote MKM analyst Eric Handler in an email. Also this week AMC said it was selling its 50% ownership stake in Oscar-winning production studio Open Road Films, which it co-owned with Regal Entertainment. The sale was part of the theater chain's plan to monetize some of its assets and cut cost to combat box office volatility. Shares of AMC have declined more than 56% in the year to date, while the S&P 500 index is up nearly 10%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Shares Of Theater Chain AMC Gain 10% As Investors Shrug Off Disappointing Q2 Earnings
Shares of AMC Entertainment Holdings Inc. rose as much as 10% on Friday from Thursday's close, despite the company reporting softer-than-expected revenue and a slightly wider loss in the second quarter than Wall Street was expecting.
BRIEF-AMC Entertainment Holdings reports $100 mln share repurchase program
* AMC Entertainment Holdings Inc announces $100 million
share repurchase program
Source text for Eikon:
Further company coverage:
BRIEF-AMC Entertainment Holdings sets quarterly dividend of $0.20/shr
* AMC Entertainment Holdings Inc announces quarterly
dividend of $0.20 per share
Source text for Eikon:
Further company coverage:
BRIEF-AMC Entertainment Holdings reschedules Q2 results and earnings conference call
* AMC Entertainment Holdings, Inc. reschedules second
quarter 2017 results and earnings conference call
AMC shares tank as company predicts steep quarterly losses
Shares of AMC Entertainment Holding Inc. fell more than 19% late Tuesday after the movie-theater chain announced cost reductions and said it expects to swing to a loss in the second quarter. AMC saw second-quarter revenue between $1.200 billion and $1.204 billion, and a net loss between $178.5 million and $174.5 million, or between $1.36 and $1.34 a share, versus gains of 24 cents a share in the year-ago period. Analysts had expected an adjusted loss of 3 cents a share on sales of $1.246 billion in the quarter. The company is scheduled to report results Aug. 7. AMC predicted "a very challenging third quarter" and unveiled plans that included strategic pricing, promotions, and reduction in operating hours and staffing affecting company headquarters and domestic theater locations. AMC forecast total sales between $5.1 billion and $5.2 billion and a net loss between $150 million and $125 million for 2017. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-AMC Entertainment Holdings says Texas court rules in favor of the company
* Texas court rules in favor of AMC Entertainment Holdings,
AMC shares bounce following tough week of losses
Shares of theater operator AMC Entertainment Holdings Inc. were up 5% intraday on Thursday. AMC stock has been beaten up recently after Barclays downgraded the stock on Wednesday following a Wall Street Journal report earlier in the week saying Chinese regulators had warned that funding the company received from parent company Dalian Wanda Group violated government capital rules. AMC has since denied receiving funding for acquisitions. As this has unfolded, AMC and other cinema stocks have also been beaten up due to poor box office performance and the threat of collapsing theatrical windows. B. Riley analyst Eric Wold said AMC's stock paring losses points to some rational thoughts coming back to AMC investors. "We believe that some of the sell-side concerns around [premium video on demand] have been stretch concerns without a basis in reality around both what is best for the industry or, more importantly, catering to what consumers actually desire," Wold said in an email. "As for the Wanda situation, once AMC made it clear that Wanda has not been involved in the company's financing or acquisition activity, the issues around Wanda should be centralized to Wanda and have no impact on AMC." Shares of AMC have declined more than 38% in the year to date, while the S&P 500 index is up nearly 11%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-AMC Entertainment Holdings says amends credit agreement
Amc Entertainment Holdings Inc. * AMC Entertainment Holdings - on June 13, co entered fourth amendment to credit agreement amending credit agreement dated April 30, 2013. * AMC Entertainment Holdings - fourth amendment increased revolving loan commitment under credit agreement from $150.0 million to $225.0 million - SEC filing Source text - http://bit.ly/2rodlc2 Further company coverage:
AMC investors are not pricing in the company's strategic moves
AMC is considering tacking on a $1 charge to movie tickets bought during the weekend, among other measures to spur growth. Investors are missing the value in AMC Entertainment Holding Inc.' s stock, according to MKM Partners analyst Eric Handler. Shares of the theater chain were down as much as 2% on Thursday, tracking declines in other film exhibitors.
IMAX shares fall more than 5% leading film exhibitors down in disappointing summer movie season
Film exhibitors continue to experience stock declines as the summer movie season has gotten off to a rough start. Shares of Imax Corp. were down more than 5%, leading the exhibitor space downward, with AMC Entertainment Holding Inc. shares falling nearly 4% and shares of Cinemark Holdings Inc. and Marcus Corp. falling slightly. Regal Entertainment Group shares were up less than 1%. The declines follow a Tuesday selloff that came after the 4-day Memorial Day holiday weekend had the lowest gross in 18 years. "Although Imax has the benefit of global exposure and more local content than the pure play exhibitors, their business is still focused on major blockbuster films and, with a number of those underperforming as of late, we would not be surprised if incremental concerns over near-term results and negative leverage on the model on weaker box office results is causing the selling pressure," B. Riley analyst Eric Wold said. The summer box office, so far through the season, is down 4.7% compared with last year's gross during the same time frame. Shares of the S&P 500 index were down slightly in intraday trade on Wednesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Movie theater stocks suffer after a disappointing Memorial Day weekend at the box office
Shares of movie exhibitors and theater chain operators were down Tuesday after the box office suffered its lowest 4-day Memorial Day weekend draw in 18 years. AMC Entertainment Corp. led the decline, falling nearly 5%, while IMAX Corp. fell 4%, Cinemark Holdings Inc. fell more than 2% and Marcus Corp. fell 2%. Regal Entertainment Group's was less severe, falling less than 1%. The box office brought in an estimated $179.0 million over the 4-day weekend, which is the lowest gross for the typically busy weekend since 1999, said ComScore analyst Paul Dergarabedian. Foot traffic at the multiplex, which has been relatively stagnant for years, disappointed over the weekend. Dergarabedian said the slate of movies so far this summer, aside from Walt Disney Co.'s "Guardians of the Galaxy Vol. 2," have been poor. Disney's "Pirates of the Caribbean: Dead Men Tell No Tales" topped the holiday box office but received little help from critics, pulling in $77.0 million, according to ComScore estimates. The box office's other new comer, "Baywatch," distributed by Viacom Inc.'s Paramount Pictures pulled in just $23.0 million. So far in the summer season, the box office is down 5.6% compared with the same time frame last year. "The pressure is on right now," Dergarabedian said, as the industry looks to June releases "Wonder Woman" from Time Warner Inc.'s Warner Bros., Disney's "Cars 3" and "Despicable Me 3" from Comcast Corp.-owned Universal Pictures. The S&P 500 index was flat during Tuesday trade.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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