Pixar shares rose the most in almost two months amid speculation the computer-animation film studio may be purchased, possibly by distribution partner Walt Disney Co., Jefferies & Co. analyst Robert Routh said.
Pixar added $4.20, or 7.8 percent, to close at $58.16 on the Nasdaq Stock Market, the biggest one-day percentage gain since Nov. 9. Most of the rise occurred in the last 40 minutes of trading.
Routh, who doesn’t own Pixar shares, declined to say whether he thought a takeover may occur. He said there was also talk Pixar may announce a new movie-distribution pact with Disney. Under their current agreement, Disney distributes Pixar films. The two split costs and profit equally after Disney gets a distribution fee.
Pixar spokesman Nils Erdmann and Disney spokeswoman Michelle Bergman would not comment.