Pixelworks Shares Soar to 52-Week High on Disney Team-Up
By Dean Seal
Shares of Pixelworks hit a 52-week high after the company reached a deal with Walt Disney Studios to bring some films that use its TrueCut Motion technology to home entertainment devices.
The stock surged 65% to a high of $2.44 in recent trading. Shares were trading at around $2.13 this time a year ago.
The companies said Tuesday that they have entered into a multi-year agreement to bring a collection of TrueCut Motion-graded titles to select home entertainment devices.
The technology eliminates motion playback anomalies and maintains desired brightness levels. Rachel Hutter, head of operations for Disney Studios, said the technology "brings a new level of creative reach to our filmmakers like never before."
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 30, 2024 10:14 ET (15:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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