Yesterday, in between running around like the proverbial headless rooster, I bopped over to the DreamWorks Animation campus. The place is humming. And it's not just inside the studio's vine-covered walls:
Dreamworks Animation (DWA) was upgraded today by analysts at Wedbush Morgan ... The analysts upped DWA to "Buy" from "Hold." Over the last 52 weeks the stock has ranged from a low of $20.39 to a high of $32.73.
The stock getting a greenlight, particularly in this market (see below) is a good thing, yes? On the other hand:
DreamWorks Animation SKG Inc. is teaming up with Cerelink Digital Media Group of New Mexico to use the resources of the Computing Applications Center so DreamWorks can render its three-dimensional films in New Mexico.
As part of the project, an ultra high-speed link now connects New Mexico to Hollywood. That was done by the Computing Applications Center in collaboration with the University of New Mexico, the New Mexico Department of Information Technology, National LambdaRail and Cerelink DMG ...
More jobs in New Mexico, fewer jobs in Glendale. And yet again On the other hand:
Goldman downgraded Dreamworks (NYSE: DWA) to Neutral from Buy and lowered its target to $25 from $35 citing high expectations for "Monsters vs. Aliens" and DVD market softness ...
DreamWorks Animation steady hiring of new personnel has now leveled off. Even when you're a cartoon studio with a hot hand, you play it cautious when 1) the stock market's having conniption fits, 2) you only have one film coming out in 2009, and 3) you don't have a great roadmap for what lies around the next corner.
Cost containment is the order of the day, and while nobody is thrilled with wage levels not rising, nobody is complaining (at least, not to me).
The sentence I hear over and over ... and let me know if you've heard this before ... is:
"I'm happy to have a job ..."
It's rapidly becoming 1936, all over again.