On Friday, coinciding with the U.S.-China film deal, DreamWorks Animation announced a joint venture with China Media Capital (CMC) and two other Chinese companies to establish a China-focused family entertainment company, Oriental DreamWorks.
Dreamworks Animation shares are trading higher this morning after Janney Capital analyst Tony Wible upped his rating on the stock to Neutral from Sell, asserting that the company could have a big hit with the upcoming film Rise of the Guardians, which will be released November 21.