Disney's Stock Jumps To 3-month High After 'The Jungle Book' Smashes Expectations

By Markets MarketWatch Pulse

Shares of Walt Disney Co. surged 2.4% to a three-month high in morning trade Monday, after the "The Jungle Book" box office take in its opening weekend was well above expectations. Disney's stock was by far the best performer among components of the Dow Jones Industrial Average , with the second-biggest gainer--J.P. Morgan Chase & Co.'s stock --up just 0.9%. "Jungle" took in $103.6 million this weekend, according to Box Office Mojo, compared with expectations of around $80 million. "'The Jungle Book' will be the talk of the town for the next couple weeks," analyst Mike Hickey at Benchmark wrote in a note to clients. "It's an opening number that exceeds all expectations despite the pre-release buzz." Disney's stock has now run up 13% since closing at a 16-month low of $88.85 on Feb. 10. It is still down 4.2% year to date, while the Dow is up 2.8%.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.