Time Warner (TWX) Slumps Despite Potentially Record-Breaking Box Office Weekend
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Time Warner (NYSE: TWX) shares are trading lower with broader markets Monday, despite what some speculate are record sales numbers for the latest comic book hero-based movie.
Reports from The Hollywood Reporter on Monday estimate weekend box office sales at or above $160 million for "Dark Knight Rises." The number would be a record opening weekend for 2-D films, with "The Avengers" and "Harry Potter and the Deathly Hallows – Part 2" selling $207.4 million and $169.2 million, respectively, as 3-D features.
Official revenue reports are being withheld by Time Warner -- as well as peers Sony (NYSE: SNE), Fox (of News Corp (Nasdaq: NWSA)), Universal, Lionsgate (NYSE: LGF), and Paramount -- following the tragic Aurora, CO, shoots, which happened in the early morning hours of July 20th.
Investors are also keeping an eye on IMAX Corp. (NYSE: IMAX), which may have bolstered ticket sales do to the slightly increased price on 3-D tickets. Goldman Sachs started coverage on IMAX at Buy earlier.
Reports from The Hollywood Reporter on Monday estimate weekend box office sales at or above $160 million for "Dark Knight Rises." The number would be a record opening weekend for 2-D films, with "The Avengers" and "Harry Potter and the Deathly Hallows – Part 2" selling $207.4 million and $169.2 million, respectively, as 3-D features.
Official revenue reports are being withheld by Time Warner -- as well as peers Sony (NYSE: SNE), Fox (of News Corp (Nasdaq: NWSA)), Universal, Lionsgate (NYSE: LGF), and Paramount -- following the tragic Aurora, CO, shoots, which happened in the early morning hours of July 20th.
Investors are also keeping an eye on IMAX Corp. (NYSE: IMAX), which may have bolstered ticket sales do to the slightly increased price on 3-D tickets. Goldman Sachs started coverage on IMAX at Buy earlier.
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