Cinemark Holdings Inc stock price

Cinemark Holdings Inc latest news:


  • 08/15/2017 13:37:49

    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.

  • 08/10/2017 09:15:59

    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.

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