DOW JONES NEWSWIRES
DreamWorks Animation SKG (DWA) will move its listing to the
Nasdaq Stock Market from the New York Stock Exchange, following a
line of other companies making the same trip.
The computer-animation studio expects its stock will start
trading on the Nasdaq on Feb. 26 and will continue to be listed
under the ticker symbol DWA.
"The Nasdaq and its listed companies represent many qualities
with which DreamWorks Animation has long been associated, including
industry-leading technology, innovation and creativity," said Rich
Sullivan, head of investor relations. "After careful consideration,
we believe the Nasdaq will provide our stockholders with access to
the most advanced trading platform and the most cost-effective
services available in the market today."
News Corp. (NWS, NWSA), parent company of The Wall Street
Journal and these newswires, moved its two classes of stock to
Nasdaq from the NYSE in December. It was the largest company by
market capitalization to make the jump last year.
Mylan Inc. (MYL), CME Group Inc. (CME) and Automatic Data
Processing Inc. (ADP) also have announced plans to defect to Nasdaq
in recent months.
But the defections haven't been just one way. Nasdaq-listed
companies such as Monster Worldwide Inc. (MWW) and Myriad Genetics
Inc. (MYGN) decamped for the NYSE in 2008. The two-century-old Big
Board is owned by NYSE Euronext (NYX).
DreamWorks' shares were at $21.47, up 1.7%, in after-hours
trading.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975;
Kathy.Shwiff@dowjones.com