Pixar Stock Surges on Deal Rumor

Pixar Stock Surges on Deal Rumor
By Claudia Eller and Richard Verrier, Times Staff Writers


Pixar Animation Studios shares soared to a record high Wednesday amid speculation that the company behind "Finding Nemo" and "The Incredibles" is on the verge of a new deal with — and possibly sale to — longtime partner Walt Disney Co.

The nearly 8% jump in Pixar's stock, to $58.16 a share, comes as Chief Executive Steve Jobs and Disney Chief Executive Robert Iger have been negotiating to extend their companies' long-term distribution pact that ends this summer with the release of Pixar's "Cars."