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Jan. 30, 2004 / 9:28 PM

Pixar shares rise after Disney split

LOS ANGELES, Jan. 30 (UPI) -- Shares of Pixar Animation Studios Inc. rose but those of Walt Disney Co. fell Friday after the two failed to renew a lucrative film deal, Fox News reported.

Shares of Pixar, whose films include "Finding Nemo" and "Toy Story," traded up $2.19, or 3.41 percent, to close at $66.39 on the Nasdaq.

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Disney shares lost 45 cents, or 1.84 percent, to finish at $24 on the New York Stock Exchange.

Pixar shares rose on assumption that it had the upper hand, as a list of suitors would likely line up to strike a deal.

Disney shares were hurt on concerns operating income at its filmed entertainment division could fall by 50 percent, the report said.

Talks between Pixar, which is run by Apple Computer Inc. co-founder Steve Jobs, and Disney on extending their 13-year relationship broke down Thursday after 10 months of negotiations.

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