Courtesy of Benzinga.
DreamWorks Animation SKG Inc. (NASDAQ: DWA) shares dropped 12.25% to $18.70 in pre-market trading after the company announced its plans to lower around 500 jobs and produce two films per year, down from three per year to restructure its core feature animation business. Analysts at Janney Capital downgraded Dreamworks Animation from Neutral to Sell and lowered the price target from $27 to $18.
Altera Corp. (NASDAQ: ALTR) shares declined 4.52% to $33.60 in pre-market trading. Altera reported Q4 earnings of $0.36 per share on sales of $479.9 million. It expected Q1 sales of $460.68 million to $479.87 million. BMO Capital downgraded Altera from Outperform to Market Perform and lowered the price target from $40.00 to $33.00.
Otonomy, Inc.(NASDAQ: OTIC) fell 2.90% to $28.49 in pre-market trading after the company priced 2.55 million share offering at $29.25 per share.
The Bank of New York Mellon Corporation(NYSE: BK) shares dropped 2.20% to $37.87 in pre-market trading after the bank reported downbeat earnings for the fourth quarter.
Qiagen NV (NASDAQ: QGEN) shares fell 1.53% to $23.21 in pre-market trading. QIAGEN is expected to release its Q4 results on January 28.
Posted-In: PreMarket LosersNews Movers & Shakers Pre-Market Outlook Markets
