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Post by Ripley on Nov 5, 2016 14:15:27 GMT -5
We posted an article earlier this week about analystst downgrading AMC as no longer bullish- now AMC has hit back with network executives giving upbeat forecasts which apparently calmed investors' fear: "AMC Networks execs’ efforts this morning to reassure investors about the prospects for the company’s diversification efforts apparently worked: AMC shares are up nearly 3% following a conference call to discuss the disappointing Q3 earnings out this morning, which helped to depress the stock price to a 52-week low in early trading. The surprisingly anemic performance in Q3 was due in part to audience defections to news networks to keep up with this year’s dramatic presidential election, the company says. It predicts that Q4 will improve with the strong initial ratings for the latest season of The Walking Dead, and double digit percentage increases in ad pricing as upfront deals kick in. CEO Josh Sapan says he’s especially upbeat about AMC’s efforts to produce and own the shows it airs. AMC Studios has eight scripted dramas on the company’s channels, with three more in production...." link
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