Disney's Stock Rallies Toward 7-month High After 'Rogue One' Beats Box Office Expectations

By Tomi Kilgore Markets MarketWatch Pulse

Walt Disney Co.'s stock rallied 1.7% toward a seven-month closing high in midday trade Monday, after the entertainment and media giant's latest "Star Wars" franchise movie beat opening-weekend box office expectations. The stock has now run up 12% since Nov. 8, while the Dow Jones Industrial Average has gained 8.6%. Disney's "Rogue One: A Star Wars Story" took in an estimated $155 million over the weekend, while J.P. Morgan analyst Julia Yue said the industry was tracking for about $130 million to $150 million. She said the movie is also likely to benefit from follow-through viewing given that it received a Rotten Tomatoes score of 84% and an "A" CinemScore. That should also help Imax Corp. , as the movie represented the movie theater chain's biggest opening this year at $19 million in the U.S. and $29.2 million globally, and a 12.3% market share. Disney's stock has tacked on 0.5% year to date, while Imax shares have tumbled 13% and the Dow has gained 14%.

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