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...shares. The company reported a loss of 28 cents a share, which was narrower than the $1.49-a-share loss a year earlier. However, it missed analysts' projections. Investors were particularly miffed at Alcoa's revenue number, which totaled $5.43 billion, down 4.6% from $5.69 billion a year ago. Analysts had been expecting revenue growth. Investors subsequently dumped shares, causing the stock to plunge 11%, its worst one-day drop since last March. "The reaction [to Alcoa's miss] is a reflection of what's to come," says Cass. "Welcome to 2010, where scrutiny and reckoning and ramifications...
...paid for by the Senate campaign of Democrat Martha Coakley, but its regular-guy-against-the-rich strategy was developed months ago by top White House aides, who know their party faces a perilous election this fall. This same strategy was much in evidence at the White House Thursday, when President Obama proposed a new tax on large banks to compensate for losses suffered by taxpayers in bailouts of the financial industry that began in the final months of the Bush Administration. "We want our money back, and we are going to get it," the President said, using unusually informal...
...Last year was Hollywood's best performance in India to date. The success of the U.S. exports in the world's most prolific movie market - India makes over 1,000 films every year - began a year ago, as Indian audiences from Punjab to Chennai lapped up all genres of films, from Sony's Terminator Salvation to Warner's Harry Potter and the Half-Blood Prince to the Fox Star Studio-distributed Ice Age: Dawn of the Dinosaurs. Even Baz Luhrmann's romantic epic Australia, which tanked pretty much everywhere else in the world, made $2 million on the subcontinent - enough...
...backed down to 7%) helped usher in a herd of multiplexes - and new profits for U.S. players. American studios now estimate that 65% of their earnings come from screenings at multiplexes. Hollywood films, which only cashed in on 1% of the total Indian market 10 years ago, now skim 7% of that growing market...
...bombing with prints and an ad blitzkrieg for new releases. Fox, say experts, released 700 film-reel prints to cinemas for exhibition of Avatar with a marketing and distribution budget of $1 million; 2012 was backed by 715 prints and an ad outlay of around $500,000. Three years ago, a big release meant releasing somewhere between 100 to 200 prints at a fraction of the cost. With films having smaller shelf lives now, companies are trying to capture cash flows in the first few days after their release, says KPMG's entertainment-practice head Rajesh Jain...