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Fly News Breaks for December 21, 2015
RLD, CKEC, CNK, RGC, AMC, IMAX, DIS
Dec 21, 2015 | 06:04 EDT
Piper Jaffray analyst James Marsh says the opening of Disney's (DIS) "Star Wars" broke a number of records this weekend with its "monumental, all-time high" $238M domestic open. The number topped Marsh's estimate of $220M. The film performed "extremely well" in the premium formats with IMAX (IMAX) capturing 12% of the box and 47% of tickets sold were for the 3D showing, Marsh tells investors in a research note. "Star Wars" also opened strong internationally with a $279M showing, second only to Jurassic World that benefited from opening day-and-date in China, the analyst notes. Marsh sees the film grossing above his $600M domestic and $1B international box office estimates. The outperformance should bode well for Disney, exhibitors like AMC Entertainment (AMC), Regal Entertainment (RGC), Cinemark (CNK) and Carmike Cinemas (CKEC) as well as premium format players like IMAX and RealD (RLD), Marsh writes. Shares of Disney are up 2%, or $2.24, to $109.81 in pre-market trading.