UPDATED with closing stock price: Disney stock closed at $86.75 a share, down more than 13% as investors punished the company for its disappointing quarterly earnings report and weak earnings forecast. The single-day plunge was the biggest for Disney shares since the onset of Covid in the U.S. in March 2020, when it also fell 13%. The shares have fallen more than 43% in 2022 to date, compared with a drop of less than 10% for the Dow Jones Industrial Average. PREVIOUS: Disney stock has fallen more than 11% today on double its normal trading volume, as investors recalibrate their expectations in light of a shaky quarterly earnings report. At $88.53, Disney shares were at their lowest point since they dipped into the $80s for a couple of trading days during Covid lockdowns in March 2020. Prior to that, the last time the stock closed at or below $86.75 was in 2015. Bears seized on the company’s much-lower-than-expected profit forecast as well as a significant … [Read more...] about Disney Stock Plunges 13% To New Multi-Year Low On Earnings Miss, Weak Profit Outlook – Update
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‘Magic Mike’s Last Dance’ & ‘Titanic’ Reissue Having Super Bowl Dance-Off At Box Office – Preview
In both a noble gesture toward exhibition after the studio’s Project Popcorn, and in a means to monetize downstream revenues, Warner Bros is taking what was a HBO Max movie, Steven Soderbergh’s Magic Mike’s Last Dance , and putting into 1,500 theatrical locations this weekend. That’s with a thrifty marketing spend. It’s the second movie after New Line’s House Party ($8.8M) for which Warners has reverse-engineered a streaming release for the big screen. Meanwhile, Paramount is building off the heat of James Cameron’s Avatar: The Way of Water with a 25th anniversary 3D reissue of the filmmaker’s Oscar-winning 1997 smash Titanic . There are arguments to be made that either could notch No. 1: Titanic apparently is tracking better than the fall re-issue of Avatar ($10.5M opening) with a shot at double-digit millions in 2,400 theaters and the Channing Tatum-Salma Hayek Pinault threequel also having a potential $10M debut with the chance for more heading into … [Read more...] about ‘Magic Mike’s Last Dance’ & ‘Titanic’ Reissue Having Super Bowl Dance-Off At Box Office – Preview
‘Aftersun’ Becomes Mubi’s Most Streamed Movie Ever & Crosses Box Office Milestones
EXCLUSIVE : Arthouse streamer and distributor Mubi has traditionally been shy about revealing performance numbers for its movies, but today we can reveal that BAFTA and Oscar hopeful Aftersun has become the company’s most streamed release globally. We’re told the Paul Mescal -starrer has now far surpassed Mubi’s previous best-performers including Portrait Of A Lady On Fire , The Worst Person In The World , Drive My Car , Decision To Leave , Shiva Baby and Titane , some of which were released during the pandemic, a boom time for streamer engagement. The film started streaming in the UK, Ireland, Italy, Latin America and a handful of other markets on January 6, 2023, and has also become the top-viewed film all time in these individual territories. It will join the platform in Germany, Austria and Spain in March, and later in France. Writer-director Charlotte Wells’ acclaimed debut has also blazed a trail for Mubi at the theatrical box office, becoming … [Read more...] about ‘Aftersun’ Becomes Mubi’s Most Streamed Movie Ever & Crosses Box Office Milestones