NEW YORK, NY / ACCESSWIRE / June 14, 2017 / Verizon finally closes its deal with Yahoo to acquire its core assets and as expected, Yahoo's CEO Marissa Mayer resigned as a result. Verizon will be mixing Yahoo's core assets with its AOL assets and creating a new subsidiary called Oath. IMAX Corporation saw gains after the company announced that it would be letting go of about 14% of its workforce to save $20 million annually.

RDI Initiates Coverage on:

IMAX Corporation
https://ub.rdinvesting.com/news/?ticker=IMAX

Verizon Communications Inc.
https://ub.rdinvesting.com/news/?ticker=VZ

IMAX Corporation's shares saw a nice little pop on Tuesday and closed up 5.21%. Pretty nice considering last month the stock tanked 18%. Seems that investors are gaining confidence in the stock again after the enhanced movie theater operating company announced late Monday that it would be laying off 100 employees, which accounts for 14% of its workforce. The move is expected to save IMAX about $20 million a year. IMAX was one among many movie stocks to see a drop last month due to a weak summer movie session at the box office. B. Riley analyst Eric Wold wrote, "The potential for more efficient network growth (even with a projected total addressable market twice the current network size) and the network shifting from a net cash flow investment to one that more consistently generates cash flow (up and beyond any normal box office volatility." According to Wold, Imax's recent moves will help eliminate as much as 8% in box office risk during 2018.

Access RDI's IMAX Research Report at:
https://ub.rdinvesting.com/news/?ticker=IMAX

Verizon Communications Inc.'s shares closed down 1.55% yesterday despite finally closing its deal on Yahoo. The company announced on Tuesday that it had now completed its $4.5 billion acquisition of Yahoo's core assets. Yahoo's CEO Marissa Mayer resigned yesterday after the deal was finalized and according to a regulatory filing, she's looking forward to a $23 million compensation package as she exits. Her resignation was anticipated by the Street. She wrote in a post on Tumbler, "Given the inherent changes to my role, I'll be leaving the company." She went on to say, "Looking back on my time at Yahoo, we have confronted seemingly insurmountable business challenges, along with many surprise twists and turns," Mayer wrote, signing off with: "Yaho-o-oo! Marissa" Verizon is combining its AOL assets with its Yahoo purchase in to a subsidiary called Oath. Oath will cover 50 media brands (including TechCrunch) and 1 billion people globally. It will be run by former AOL CEO Tim Armstrong.

Access RDI's Verizon Communications Research Report at:
https://ub.rdinvesting.com/news/?ticker=VZ

Our Actionable Research on IMAX Corporation (NYSE: IMAX) and Verizon Communications Inc. (NYSE: VZ) can be downloaded free of charge at Research Driven Investing.

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