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Articles by Imax Corp
Imax Corp. reports robust Q3 earnings, outpacing S&P 500
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect Imax Corp., the entertainment technology company, reported a significant third-quarter earnings boost, surpassing estimates and outperforming the 's gains this year. The company's shares saw a premarket increase of 2%, contributing to a surge of 24.8% in 2023, which markedly surpassed the S&P 500's 10.6% gain.
Shares of AMC Theaters fall after owner Wanda Group sells stake in Chinese film business
Shares of theater chain AMC Entertainment Holding Inc. AMC, -4.30% were down 6% on relatively light volume during premarket trade on Tuesday after owner Dalian Wanda Group said on Monday that it was selling a $1.2 billion stake in its Chinese cinema business to Alibaba Group Holding Ltd. BABA, -3.62% and a government-backed firm in order to pay down debt. Adding pressure to shares is a broader market sell off that saw historic losses on Monday.
Lagging 2017 movie receipts put Hollywood on the defensive for 2018
When we look back on 2017, it may become the most important year for the box office in recent history, according to media analyst Paul Dergarabedian. This year’s Hollywood box office will likely be about 3% below last year’s record-breaking gross. As of Friday, the overall box office had racked up $10.8 billion, compared with $11.1 billion in 2016 and $10.9 billion in 2015 at the same point.
20th Century Fox extends film distribution deal with Imax
Imax Corp. IMAX, -1.44% and 20th Century Fox, the film division of 21st Century Fox Inc. FOX, +0.68% said on Thursday that they have agreed to extend their film distribution partnership through 2019. As part of the multi-film deal, Fox films "Kingsman: The Golden Circle," "The Darkest Minds," and Marvel-branded titles "The New Mutants," "X-Men: Dark Phoenix," and "Gambit" will be digitally remastered for Imax's premium large-screen format and released in Imax theaters.
Imax admits that ‘Inhumans’ partnership with Marvel didn’t go as planned
Imax Corp. is rethinking the investment it made in “Marvel’s Inhumans” that brought the show’s first two episodes to the big screen. The premium theater exhibitor reported better-than-expected third-quarter earnings on Thursday, boosting shares more than 6% in intraday trade on Friday.
Imax shares gain premarket after J.P. Morgan upgrades stock to outperform
Shares of Imax Corp. IMAX, +11.43% were up more than 2% in premarket trade on Friday after analysts at J.P. Morgan upgraded the stock to overweight from neutral and increased their 12-month price target to $29 from $25. J.P. Morgan's price target represents a 24% premium to current trading levels. The upgrade comes after Imax reported third-quarter earnings on Thursday that beat Wall Street expectations.
Imax shares rocket up 10% after company reports strongest third-quarter ever
Shares of Imax Corp. IMAX, +9.29% rose more than 10% in premarket trade on Thursday after the premium movie theater exhibitor reported third-quarter revenue above Wall Street expectations. Imax reported net income of $2.90 million, or a loss of 1 cent per share, after income of $4.38 million, or 4 cents per share, during the same quarter a year ago. Imax revenue was $98.8 million, up from $86.6 million last year, and above FactSet's $86.5 million revenue consensus.
Imax Q3 earnings estimates lowered at B. Riley due to disappointing 'Marvel's Inhumans' results
Imax Corp.'s IMAX, +2.68% third quarter box office revenue came in above B. Riley analyst Eric Wold's expectations, but the premium film exhibitor's earnings will likely be hurt by the poor performance of its experiment with "Marvel's Inhumans." Box office revenue was $215.5 million, above Wold's initial projection of $183.6 million and his increased September projection of of $210.4 million.
Movie theater stocks suffer following soft 'Blade Runner 2049' opening weekend
Movie theater stocks were down during intraday trade on Monday after newly released "Blade Runner 2049" underperformed at the box office over the weekend and overall revenue fell short of expectations. Shares of AMC Entertainment Corp. AMC, -5.43% were down nearly 7% on Monday, while Regal Entertainment Group RGC, -4.59% shares fell more than 4%, Cinemark Holdings Inc. CNK, -2.95% shares were down 3%, Imax Corp. IMAX, -2.33% shares were down 2% and shares of Marcus Corp.
AMC is partnering with Dreamscape Immersive to scale virtual reality technology in Hollywood
Movie theater chain AMC Entertainment Inc. AMC, +2.81% said on Tuesday that it has entered into a wide-ranging strategic partnership with location-based virtual reality start up Dreamscape Immersive in a move that both side hope will "rapidly scale the development" of the virtual reality technology. AMC shares rose as much as 4% in Tuesday morning trade.
Movie theater stocks receive a bump after record opening for ‘It’
Over the weekend “It,” the updated big screen adaptation of Stephen King’s 1980s novel, captivated and terrified audiences as it reinvigorated a slumping box office. “It” pulled in $123.1 million in its opening weekend, setting a record for a September debut that far exceeded what Warner Bros. TWX, +0.40% studio execs were hoping for the film. The film accounted for 80% of the box-office revenue from the weekend’s top 10 films.
Hollywood is putting tons of pressure on ‘It’ to start a box-office turnaround this weekend
Though terrorizing the children in the film, “It” is actually here to save the box office. As the summer box office wound to a close, capping the season with Hollywood’s lowest Labor Day weekend draw in 20 years, “It” was gaining steam. The film, which currently has a 90% critical rating on Rotten Tomatoes, broke the Thursday night preview box-office record for an R-rated film, pulling in $13.5 million. That record was previously held by “Deadpool” ($12.7 million).
Hollywood is already trying to put dismal summer box office behind it
Hollywood is already crossing its fingers and praying for a box-office turnaround, after its worst summer movie season in more than a decade. Last weekend was Hollywood’s lowest Labor Day weekend draw in 20 years, capping a summer that will finish down more than 14% compared with last year, and down 13% from 2015. But already there are rekindled hopes for upcoming film releases.
This is Hollywood’s worst summer at the box office in more than a decade
It’s official, summer 2017 is on its way to being the first sub-$4 billion summer at the box office in a decade. With about a week left in the summer movie season — defined as the first Friday in May through Labor Day weekend — the box office has garnered $3.7 billion. The summer box office is down 14% compared with last year and down 13% compared with 2015, according to data from Box Office Mojo.
Imax continues virtual reality investment, opening new VR center in Toronto
Imax Corp. IMAX, -1.94% said on Thursday it's expanding its virtual reality business, opening a new virtual reality center at a Cineplex theater TSX:CGX in Toronto, Canada. Along with the new VR center, Imax will add a new Imax auditorium at Cineplex theaters in Toronto and Regina. As U.S. box office trends have slowed, Imax has been investing heavily in virtual reality in hopes of driving traffic to movie theaters, and has been focused on expanding its international reach.
Former Netflix executive wants to shake up moviegoing with $10 MoviePass service
The Hollywood box office is certainly in need of a driver to get audiences in to cinemas and multiplexes. Movie theater subscription service MoviePass is tearing a page right out of Netflix Inc.’s NFLX, -1.47% book in hopes of providing that much-needed jolt.
Investors are misinterpreting positive benefit of $10 MoviePass on cinemas
MoviePass, a movie theater subscription service, on Tuesday unveiled plans to lower the cost of its subscription to $10 a month from $30-and-up. Shares of AMC Entertainment Holdings Inc. AMC, -2.21% which have already been beaten up recently, fell as much as 5.8% during the day. It was followed down by shares of Imax Corp. IMAX, -1.46% which fell 2.4%, Regal Entertainment Group's RGC, -1.15% 1.9% drop, Marcus Corp.'s MCS, -1.26% 1.5% fall, while Cinemark Holdings fell as much as 1%.
Cinema stocks continue to suffer as AMC shares fall nearly 5%
Shares of cinema chain AMC Entertainment Holding Inc. AMC, -5.16% were down as much as 4.8% during intraday trade on Thursday. The stock's move led a selloff in the cinema group, with Regal Entertainment Group RGC, -2.64% Cinemark Holdings Inc. CNK, -2.30% Marcus Corp. MCS, -1.88% and Imax Corp. IMAX, -1.39% were all down nearly 2%.
Cinema stocks still getting knocked about as Hollywood’s summer box office slumps
It's like investors are getting up and leaving the theater in the middle of a terrible movie. AMC Entertainment Holding Inc. AMC, -4.54% trading at all-time lows, saw shares fall more than 6% on Thursday after already dropping nearly 48% in the past three months. AMC has had a terrible time tackling the tolls of a tumultuous box office.
Cinema stocks take a hit following AMC's Q2 profit warning
Shares of AMC Entertainment Holding Inc. AMC, -25.00% led other theater chain operator stocks down in early trade on Wednesday. AMC shares were down as much as 25% after the company issued a profit and revenue warning Tuesday evening, that was the result of high costs amid a period of weaker-than-expected box office revenue.
AMC hits record low as unrelentingly poor box office continues to take a toll
Shares of AMC Entertainment Holdings Inc. were trading at record lows on Wednesday, after the company said it expects second-quarter earnings will be worse than previously expected. The cinema chain’s stock fell as much as 27% from Tuesday’s close, trading at its lowest level since going public in 2013. AMC AMC, -25.48% said on Tuesday that not only would the company swing to a loss in the quarter, but that it would be wider than analysts surveyed by FactSet were expecting.
Movie chain stocks hurt as results show poor summer slate, other woes
Stocks of movie theater chains extended losses on Thursday, as second-quarter results highlighted the poor summer film performance and fears over digital disruption and shrinking theatrical release windows that have plagued the sector.
Investors are overreacting to poor returns at the Hollywood box office
It’s not been a stellar summer for the box office and investors are taking it out on shares of cinema chains. But in an evolving industry already subject to ebbs and flows, it’s likely an overreaction. For the second consecutive summer the narrative around the box office has been about the poor performance of summer films. Though, it should be noted that last summer’s widely paned crop of films did not mirror overall summer box office returns that were neck-and-neck with the prior year.
Movie theater stocks beat up by early summer’s poor box office returns
Returns for some of what were expected to be the biggest films of the year were far from blockbuster in the second quarter, and movie theater stocks have taken a beating for the disappointment. The domestic box office pulled in $2.5 billion in the second quarter, down more than 9% compared with the $2.8 billion generated during the same quarter a year ago. In 2015, the box office made $3.2 billion in the second quarter.
Weekend roundup: What Amazon’s deal for Whole Foods means for you | A debate over bitcoin | What’s next for FAANG stocks
MarketWatch rounded up 10 of its most interesting topics over the past week. Amazon.com Inc. AMZN, +2.44% announced a deal on Friday to acquire Whole Foods Market Inc. WFM, +29.10% for $42 a share in cash, or roughly $13.7 billion. That’s a 27% premium to Whole Foods’ closing price on Thursday. The purchase will catapult it into one of America’s five largest grocers, and Jeff Reeves says Amazon’s widening “moat” is good news for its shareholders.
AMC investors are not pricing in the company’s strategic moves
Investors are missing the value in AMC Entertainment Holding Inc.’s stock, according to MKM Partners analyst Eric Handler. Shares of the theater chain were down as much as 2% on Thursday, tracking declines in other film exhibitors. Shares of Regal Entertainment Group RGC, -1.54% and Imax Corp. IMAX, -1.03% were down more than 2% and Cinemark Holdings Inc. CNK, +0.32% shares slid less than 1%.
The summer movie box office is not living up to what the industry promised
Summer 2017 was supposed to flip the script on last year’s box office. After a summer jam-packed with big blockbusters with little to offer in terms of quality — if critics are to be believed — this year was supposed to change the narrative and put faith back in Hollywood’s summer movies: It hasn’t. Check out: Hollywood is running out of hit ’80s movies to reboot “We acknowledge, in hindsight, box office expectations for a handful of films this summer were too optimistic,” B.
Movie theater stocks suffer after a disappointing Memorial Day weekend at the box office
Shares of movie exhibitors and theater chain operators were down Tuesday after the box office suffered its lowest 4-day Memorial Day weekend draw in 18 years. AMC Entertainment Corp. AMC, -4.54% led the decline, falling nearly 5%, while IMAX Corp. IMAX, -0.30% fell 4%, Cinemark Holdings Inc. CNK, -0.92% fell more than 2% and Marcus Corp. MCS, -0.38% fell 2%. Regal Entertainment Group's RGC, -2.23% was less severe, falling less than 1%.
‘The Fate of the Furious’ is the latest film to get the IMAX event-movie treatment
Universal Pictures’ high-octane, big-budget blockbuster absurdity “The Fate of the Furious” is the kind of popcorn action flick made for the biggest screen and the bassiest speakers imaginable. This eighth installment in the street-racing, steered street, air-and-high-rise-building chasing “Fast and Furious” franchise was constructed for IMAX screens.
Warner Bros., IMAX to create virtual reality experiences for ‘Justice League,’ ‘Aquaman’
Virtual reality: Coming to a theater near you — sort of. The home entertainment division of Time Warner Inc.’s TWX, -0.16% Warner Bros. film studio said on Tuesday it’s reached a co-financing and production agreement with IMAX Corp. IMAX, +0.81% to develop and release three interactive VR experiences based on upcoming films: “Justice League,” “Aquaman” and a third that has yet to be announced. The companies plan to launch an experience a year, beginning with “Justice League” in late 2017.
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