Pixelworks (NASDAQ: PXLW) stock surged more than 13% on Tuesday following the announcement of a groundbreaking multi-year agreement with Walt Disney Studios. The deal aims to broaden the adoption of TrueCut motion technology.
Walt Disney Studios and Pixelworks have partnered to bring a selection of TrueCut MotionTM graded titles to select home entertainment devices. These titles uphold an elevated standard of genuine filmmaker creative intent by eradicating playback irregularities in motion, ensuring desired brightness levels, and preserving the authentic cinematic motion appearance of the source material.
Rachel Hutter, Head of Operations at Disney Studios, expressed Disney’s ongoing commitment to improving the viewer experience.
He said,
“TrueCut Motion technology brings a new level of creative reach to our filmmakers like never before.”
TrueCut Motion technology, known for its innovation and accolades, equips filmmakers with tools to adjust motion in each shot. This opens up new possibilities for storytelling while fixing any motion problems common on today’s high-contrast, super-bright consumer screens. TrueCut Motion then ensures that these creative choices are precisely integrated into the original content, delivering unmatched quality when viewed on devices.
Richard Miller, GM of TrueCut Motion at Pixelworks, said,
“Disney once again is extending the boundaries of the home cinematic experience, empowering its filmmakers to delight their audiences, and we are proud to be a part of it.”
Pixelworks (NASDAQ: PXLW) Stock Reaction
PXLW stock soared 13.18% on Tuesday. The traders had exchanged hands with 74,080,300(74.08 million) shares compared to the average daily trading volume of 179.16 thousand.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
