Imax's Stock Gets a Boost From Big Weekend Opening By "The Jungle Book"

By Markets MarketWatch Pulse

Imax Corp. said Monday that Walt Disney Co.'s "The Jungle Book" took in $20 million on 901 3-D screens this weekend, making it the biggest-ever Imax opening for a PG-rated movie. The movie theater operator said the movie's domestic take was $10.3 million on 376 Imax screens, while the movie brought in $9.7 million on 525 screens internationally. Imax's stock surged 3%, putting it on course to close at the highest level since Jan. 11. it has lost 8.2% year to date, while the S&P 500 has gained 2.2%. Overall, "Jungle's" total weekend box office was about $103.6 million, according to Box Office Mojo, or well above expectations of around $80 million.

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