4.6500 +0.12 (2.65%)
Before hours: 4:33AM EDT
|Bid||0.0000 x 2900|
|Ask||4.7100 x 1800|
|Day's Range||4.4700 - 4.6900|
|52 Week Range||1.9500 - 12.4900|
|Beta (5Y Monthly)||1.73|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug. 06, 2020 - Aug. 10, 2020|
|Forward Dividend & Yield||0.12 (2.63%)|
|Ex-Dividend Date||Mar. 06, 2020|
|1y Target Est||4.11|
Investors were feeling good about a healthy future when the market opened, pushing movie theater operator AMC higher.
Shares of Cinemark Holdings (NYSE: CNK) jumped over 11% in morning trading a day after the company said it was pushing its movie theater reopening to July 24 to better align with new content from Hollywood. Reopening theaters is the essential next step for the survival of Cinemark and the industry. Peer AMC Entertainment (NYSE: AMC) continues to walk the tightrope between solvency and bankruptcy, but opening movie houses with little to no content to show is self-defeating.
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AMC ENT. HLDGS, Inc. Announces Extension of Early Deadline, Withdrawal Deadline & Expiration Time of Private Exchange Offers & Consent Solicitations
AMC Theatres (NYSE:AMC, "AMC" or the "Company"), the largest theatrical exhibition company in the United States, in Europe & the Middle East, and the world, today announced a new U.S. reopening date of July 30, when it will resume operations of 450 U.S. theatres as part of a phased plan that is expected to bring the 600-plus U.S. theatre circuit essentially to full operation by early August.
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What Disney does next with the theatrical release of “Mulan” will affect the entire movie theater industry.
AMC Entertainment Holdings, Inc. Announces Extension of Early Deadline and Withdrawal Deadline of Private Exchange Offers and Consent Solicitations
Yahoo Finance's Alexandra Canal breaks down the latest outlook for Hollywood summer blockbusters as theater chain AMC preps to reopen mid-July.
AMC Entertainment reversed its decision to make wearing masks optional for patrons after facing backlash from the public. Yahoo Finance’s The Final Round panel breaks down the details.
Mark Gill, movie executive, ‘Unhinged’ producer & head of Solstice Studios, joins Yahoo Finance’s Melody Hahm to discuss his upcoming film release and outlook for Hollywood as the coronavirus shutters many movie theaters.
Script change: an about-face from AMC Entertainment. The world's largest theater operator said Friday it will require guests to wear face masks when theaters reopen next month. AMC reversed itself after facing a social media backlash. Its CEO Adam Aron had said in a magazine interview that the company did not want to get into a "political controversy" by forcing people to wear masks. Some Twitter users responded by accusing the theater chain of putting politics above people. Actor Elijah Wood tweeted, "…you should require masks. Has nothing to do with politics, but rather, public health." Responding to the audience reaction, Aron said Friday "…we did not go far enough on the usage of masks." AMC plans to reopen 450 theaters in the U.S. on July 15 and the remaining 150 theaters on July 31.
(Bloomberg Opinion) -- AMC Entertainment Inc., the largest cinema operator in the U.S. and Europe, initially decided that it wouldn’t require guests to wear masks at its theaters when they reopen, and for an especially troubling reason: “We did not want to be drawn into a political controversy,” CEO Adam Aron said in an interview this week with Variety. But wearing a mask isn’t a political statement, and it’s dangerous for corporate brands to suggest it is.AMC reversed course on Friday afternoon with a statement saying that after “an intense and immediate outcry from our customers” it will now “require that all AMC guests nationwide wear masks as they enter and enjoy movies at our theatres.” In the early days of the Covid-19 pandemic, mixed messages from government leaders caused confusion around how to keep people safe, with masks thought to be unnecessary at one point. (Plus, there were concerns of creating shortages for hospital workers, which happened anyway). But given what health experts have since learned about how this particular virus infects, there is little doubt now that face coverings help minimize the spread. Already, as many as 450,000 Covid-19 cases may have been prevented because of state-mandated face masks in public settings, according to a study by Health Affairs, a peer-reviewed health care journal.Health experts have determined that masks are best worn in crowded places where you’ll be for a long stretch of time, especially if it’s an enclosed area. The close quarters of a movie theater — along with airplanes, restaurants, subway cars and theme parks — are a perfect example. Still, as of Friday afternoon, AMC's rivals, Cineworld Group Plc’s Regal Cinemas and Cinemark Holdings Inc., weren't requiring masks unless a certain state or county does. Places with loud talking or singing can be super-spreaders as well. These factors are all why Walt Disney Co. and Comcast Corp.’s Universal are requiring face coverings at their parks, as are airlines including American and Delta for passengers and crew, even if reports of full flights partially negate those efforts. Face coverings are also more effective if everyone wears them; the more stylish cloth masks being sold by retail chains and Etsy artisans may not provide the same level of protection as professional-grade filtering respirators, but if everyone is wearing some type of face covering, the risk of transmission is probably low.While AMC was already requiring masks for its employees, “We thought it might be counterproductive if we forced mask wearing on those people who believe strongly that it is not necessary,” Aron said in the Variety article Thursday. “I will certainly be wearing a mask and leading by example.” The problem with this line of thinking is that it falsely suggests wearing a mask is a personal choice deeply rooted in one’s beliefs. That makes it even more difficult for any businesses to enforce without facing push-back. As it is, that enforcement will fall to workers — often young people — who may be ill-equipped to handle an uncooperative customer if the rules seem squishy. It’s not like movie theaters and other businesses don’t already have their own rules. Retailers and restaurants generally require shoes and shirts to be worn at all times. And everyone knows that you can’t bring your own food and drinks to the movies or smoke inside. You’re also supposed to silence phones before a film starts. Wearing a mask should be treated as just another point of etiquette. Because aspects of the crisis have already been politicized in some ways, companies are understandably concerned about alienating customers at a time when they’re trying to bring back revenue and traffic. But they also risk making other customers scared to venture out again if it doesn’t feel safe. As Bloomberg Opinion’s Noah Smith wrote this week, there’s good reason to believe that “most of the economic damage from the lockdowns wasn’t due to stay-at-home orders, but because of public fear of the virus.” Credit-card spending continued, he notes. Comments like Aron’s undermine any attempts to require masks, which will likely make it more difficult to both get this pandemic under control and restore the economy. If mask wearing is treated as it should be — a new safety protocol that we just may have to get used to for a while because health experts advise it — then it helps remove any irrational political sting. The virus doesn’t care who you vote for, and wearing a mask certainly doesn’t signal support for one party or another. What it does is to help us all finally get out of the house. At least AMC finally came around.(Updates to add that AMC Theatres is now requiring masks.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
AMC Theatres (NYSE: AMC) CEO and President Adam Aron issued the following statement today:
AMC Entertainment is set to reopen 450 U.S. theaters on July 15. Yahoo Finance’s On The Move panel discusses.
The action should be on the silver screen when AMC Entertainment reopens 450 theaters in the U.S. July 15, but in announcing those plans, AMC found itself in the limelight. The world's largest theater operator is facing a social media backlash over comments made by its CEO. Adam Aron told Variety magazine that wearing masks will be optional. He said the company did not want to be drawn into a "political controversy" by forcing movie goers to wear them inside the theater. Several Twitter users criticized the move as focusing on politics instead of people. One tweeted, "How is public health political? You should be protecting your customers. Follow the science." Actor Elijah Wood weighed in as well, writing "... you should require masks. Has nothing to do with politics, but rather, public health." AMC didn't respond to a request for comment but had earlier said it "strongly encourages" guests to wear one. People living in states where masks are mandatory will have to put them on. Investors brushed aside the stir, driving AMC shares higher at the market open Friday. The company plans to reopen its remaining 150 U.S. theaters on July 31.
Yahoo Finance’s Adam Shapiro and Julie Hyman break down Friday’s trending headlines.
(Bloomberg) -- The coronavirus pandemic, and President Donald Trump’s response to it, have put corporate chiefs in an uncomfortable position: Deciding on mask-wearing policies for staffers and customers has become seen as a political choice.American Airlines Group Inc. on Thursday removed conservative activist Brandon Straka from a flight because he wouldn’t wear a mask, banning him from future flights until face coverings are no longer required. Straka leads the WalkAway movement of former Democrats now supporting Trump, who has at times mocked rivals for wearing masks and generally declines to sport one in public himself.AMC Entertainment Holdings Inc. waded into the same hot water Thursday, when Chief Executive Officer Adam Aron defended the movie-theater chain’s decision not to require patrons to wear masks when its cinemas reopen next month.“We did not want to be drawn into a political controversy,” Aron said in an interview with the entertainment publication Variety. “We thought it might be counterproductive if we forced mask wearing on those people who believe strongly that it is not necessary.”The kerfuffle didn’t weigh on AMC’s shares, which got a boost from enthusiasm about the company’s reopening plans. The stock, which has dropped 22% this year, was up as much as 11% in New York trading Friday. American shares rose about 2%.Each company took flak on Twitter over its decision, from opposite directions. “If masks are optional at AMC theaters, I’ll have to cancel my membership,” one member of the chain’s loyalty program tweeted. A supporter of Straka posted a list of past pandemics in which masks weren’t generally worn, saying they’re being pushed now “for fear and panic.”The Trump administration’s own official health guidelines encourage wearing a mask whenever a person is within 6 feet of others, as facial coverings reduce the spread of respiratory droplets that carry the coronavirus. Yet what seems like simple medical advice runs up against the kind of strong beliefs Aron cited, at a fraught political moment for the U.S.The controversy shows no signs of diminishing as positions on either side harden. Several municipal and county officials requiring masks in their localities are at odds with Republican state governors. Meanwhile, California Governor Gavin Newsom, a Democrat, on Thursday issued new guidelines requiring masks in most public situations.(Updates with shares in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Founded in 1920, for 100 years AMC Theatres (NYSE:AMC, "AMC" or the "Company"), the largest theatrical exhibition company in the United States, in Europe, and the world, has delighted movie fans with an unparalleled theatrical experience. Beginning July 15, AMC kicks off its next 100 years of movie magic, as the Company will resume operations of 450 U.S. theatres as part of a phased plan that is expected to bring the 600-plus U.S. theatre circuit to nearly full operation leading into the opening of MULAN on July 24 and TENET on July 31.
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