Tuesday’s Headlines: Cinema Season Comes Roaring Back
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Yext (YEXT) +17.5%
Veeva Systems (VEEV) +10.1%
Salesforce (CRM) +5.4%
Lemonade (LMND) +5.2%
Ulta Beauty (ULTA) +5.2%
Moving Down ⬇️
IMAX (IMAX) -4.3%
Sea Limited (SE) -2.8%
GoPro (GPRO) -2.4%
Costco (COST) -2.4%
Baozun (BZUN) -2.4%
1. The summer blockbuster season kicked off in the U.S. with IMAX (IMAX) delivering its biggest opening weekend of the pandemic era for 'A Quiet Place Part II.' CEO of IMAX, Rich Gelfond, said the film was “the first domestic release this year to cross the threshold from "great opening weekend given the pandemic" to "great opening weekend, period.” The cinema group earned $4.1 million in the U.S. and captured 9% of the film's domestic box office, impressive figures considering it was shown on less than 3% of IMAX’s total screens. Over its entire global network for the weekend, IMAX delivered $9.5 million in box office sales. Read more here.
2. Australia’s top broadcaster and publisher, Nine Entertainment, signed multi-year content deals with Google (GOOG) and Facebook (FB) yesterday. The world-first law aimed at making the tech giants pay for news and content was strongly opposed by both firms, with Facebook blocking all its content to Australians during the row. Now, Nine has said it will provide Google with articles and clips for Google's News Showcase platform for five years, and has a similar agreement with Facebook for three years. Nine did not confirm any financial details but said it expects the deals to help increase pre-tax profits by around A$40 million ($31 million) over the next 12 months. Catch up on the story here.
3. Coming soon to a timeline near you: Twitter (TWTR) Blue. The social media company’s latest iOS App Store update listed Twitter Blue, which includes an undo button and a reader mode that turns Twitter threads into “easy-to-read text”, as an in-app purchase. Twitter Blue users can also change the color of the Twitter app icon, the theme of their Timeline, and can organize tweets into Collections, for $2.99 a month. As ads make up 85% of Twitter’s revenue, the subscription service should boost its revenue nicely as the firm tries to find even more new ways to monetize its products. More here.
There are 2 companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.