KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
Strong Q4 Performance Boosts AMC Stock
- AMC Entertainment (AMC.US) shares rose 1.4% in extended trading after reporting better-than-expected Q4 revenue of $1.306 billion, up from $1.104 billion YOY, beating analyst expectations of $1.291 billion.
- Fourth-quarter admissions revenue reached $721.4 million, surpassing the expected $719 million.
- Food & beverage sales climbed to $446.2 million, exceeding projections of $437 million.
Earnings and Outlook
- AMC’s Q4 net loss narrowed to $135.6 million (35 cents per share) from $182 million (83 cents per share) YOY.
- Adjusted loss per share was 18 cents, in line with analyst expectations.
- 62 million moviegoers visited AMC theaters, marking a post-pandemic record and a 20% YOY increase.
- CEO Adam Aron expects 2025 to be a strong year, driven by major releases like "Wicked Part 2," "Zootopia 2," and the next "Avatar" film.
CEO Claps Back at Critics
- Aron addressed misinformation on social media, calling out "crackpot conspiracy theorists" spreading false claims about AMC.
- He reassured investors of his alignment with shareholders, revealing he hasn't sold AMC shares in three years and now owns 975,000 shares.
- AMC will not issue additional stock in 2025 unless approved by shareholders.
Stock Performance
- AMC closed at $3.27 on Tuesday, far below its $393.63 peak during the meme-stock frenzy.
- Shares have fallen 32% in the past year, while the S&P 500 gained 17.3%.
Summary:
- AMC’s revenue exceeded expectations, driven by a stronger box office.
- CEO Adam Aron remains bullish on the company’s future despite past struggles.
- Social media controversies persist, but Aron dismisses misinformation and affirms shareholder alignment.
- No further stock sales in 2025 without shareholder approval.
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