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Box Office Paydays for Thanksgiving Weekend
Tuesday, November 22, 2016
Market and economic information almost feels like it’s in clean-up mode right now, with Existing Home Sales for October due out after the market opens, and HP (HPQ - Free Report) , HP Enterprise (HPE - Free Report) , GameStop (GME - Free Report) and Urban Outfitters (URBN - Free Report) all reporting after the closing bell today.
Ahead of Tuesday’s market open, we see Hormel (HRL - Free Report) +6% on strong quarterly earnings results, whereas Jack In The Box (JACK - Free Report) disappointed analyst estimates and finds itself -3% in the pre-market; its earnings beat was eclipsed by comps lower than forecasted.
Keeping with the calendar Q3 earnings sweep-up, Dollar Tree (DLTR - Free Report) beat analyst estimates and finds itself +8% ahead of the opening bell. Campbell Soup (CPB - Free Report) is up 5% on its earnings beat this morning, and shoe discount retailer DSW is +4% even though the company missed on revenues; it expects holiday season to be stronger than in past years.
So aside from cleaning up ahead of Thanksgiving this Thursday — markets will be closed that day and will close early on Friday, at 1pm ET — getting together with family and friends to, say, go to the movies is a popular thing to do. As such, we view new releases by Disney (DIS - Free Report) and Paramount (VIA - Free Report) as being of interest this weekend.
Disney’s Frozen is one of the top-grossing movies of all time, and the most successful Thanksgiving release ever. The company hopes to repeat this feat with its animated Pacific island adventure film Moana. Renowned actor (and current tabloid favorite) Brad Pitt stars with Academy Award winner Marion Cotillard in Paramount’s Allied. This past weekend, Fantastic Beasts was box-office gold from Warner Brothers Pictures .
Mark Vickery
Senior Editor
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