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Disney Gets Last-Minute Rogue One Rally, Closes Up 1.34%
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On Monday, shares of Walt Disney Co. (DIS - Free Report) got a last-minute rally, and closed the day up 1.34% to $105.30 per share thanks to the blockbuster opening weekend performance of Rogue One: A Star Wars Story.
The latest installment—and first spinoff—in the Star Wars franchise earned $155 million over the weekend in the U.S. and Canada. Analysts projected the film to generate over $130 million. While Rogue One failed to beat Star Wars: The Force Awaken’s performance last year, which earned $248 million at the North American box office in its opening weekend, it’s still the second-best weekend collection in December movie release history.
DIS stock was also added to Bank of America/Merrill Lynch’s “U.S. 1 List” of top stocks for 2017, no doubt helping lift Disney today.
Throughout 2016, Disney’s shares have continually lagged, and is currently down 1.11% year-to-date. Concerns about its ESPN cable network have dogged the media giant, and will likely follow Disney into the New Year.
Sports programming comes at a high cost, specifically for the NFL’s Monday Night Football franchise, and this has spooked investors, as the NFL has experienced weak ratings this year. More and more consumers are cutting their cable cord too, which has led to a steady decline in ESPN subscribers.
But Rogue One’s debut is a very good sign for Disney, and demonstrates a few crucial things: that moviegoers are willing to go and see a film beyond the core Star Wars story of Luke, Leia, and Han Solo, and that as a whole, Disney’s movie business continues to be a huge financial success. According to figures from Hollywood research firm Box Office Mojo, Disney films have grossed over $2.5 billion at U.S. movie theaters this year. The company also owns Marvel and Pixar.
The as-yet-unnamed Star Wars: Episode VIII is due in theaters next December, and a separate movie about a young Han Solo is also in development.
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Disney Gets Last-Minute Rogue One Rally, Closes Up 1.34%
On Monday, shares of Walt Disney Co. (DIS - Free Report) got a last-minute rally, and closed the day up 1.34% to $105.30 per share thanks to the blockbuster opening weekend performance of Rogue One: A Star Wars Story.
The latest installment—and first spinoff—in the Star Wars franchise earned $155 million over the weekend in the U.S. and Canada. Analysts projected the film to generate over $130 million. While Rogue One failed to beat Star Wars: The Force Awaken’s performance last year, which earned $248 million at the North American box office in its opening weekend, it’s still the second-best weekend collection in December movie release history.
DIS stock was also added to Bank of America/Merrill Lynch’s “U.S. 1 List” of top stocks for 2017, no doubt helping lift Disney today.
Throughout 2016, Disney’s shares have continually lagged, and is currently down 1.11% year-to-date. Concerns about its ESPN cable network have dogged the media giant, and will likely follow Disney into the New Year.
Sports programming comes at a high cost, specifically for the NFL’s Monday Night Football franchise, and this has spooked investors, as the NFL has experienced weak ratings this year. More and more consumers are cutting their cable cord too, which has led to a steady decline in ESPN subscribers.
But Rogue One’s debut is a very good sign for Disney, and demonstrates a few crucial things: that moviegoers are willing to go and see a film beyond the core Star Wars story of Luke, Leia, and Han Solo, and that as a whole, Disney’s movie business continues to be a huge financial success. According to figures from Hollywood research firm Box Office Mojo, Disney films have grossed over $2.5 billion at U.S. movie theaters this year. The company also owns Marvel and Pixar.
The as-yet-unnamed Star Wars: Episode VIII is due in theaters next December, and a separate movie about a young Han Solo is also in development.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>