Contrary to Wall Street projections of a 17-cent increase, shares of Pixar dropped by $3.76 to $50.66. The 7% dip was no shock to the digital animation studio, which had warned of first quarter losses.
Despite modest gains in the rest of the media sector, stocks in general slipped today. The growing threat of war has been cited as the major cause of investor apprehension.
Last year, Pixar was riding high on the home video success of Monsters, Inc. Its next Disney co-production is the CG feature Finding Nemo, which hits theaters this summer.