A side note, this may be why Pixar decided to sell when they did:
Pixar Profit Declines in Fourth Quarter
Last quarter, my company made essentially the exact same announcement as Pixar. Namely, "Our revenue for this quarter was lower over the most recent quarter than revenue from the quarter before, but even with that, our 1-year revenue hit a record high." And the immediate result was a big dip (on the ordr 0f 10%) in our stick price. And that was with a modest 1% drop in sequential quarterly revenue.
Now take Pixar, whose net income drop from the 3rd quarter to the 4th was a whopping 44%! So if a mere 1% dip (yes, I know one is revenue and one is profit, but it's a comparable situation none the less) caused a 10% hit for our stock price, imagine the possible ramifications of a 44% drop! But instead, the stock is up around 15% since the sale to Disney, and it even went up by 2 cents today after the announcement.
Pure speculation on my part, but it certainly seems like numbers like that ont he horizone would have been good motivation to sell and sell quick.