Disney's 'Pirates of the Caribbean' Sequel a Major Box Office Hit (DIS)

 |  About: The Walt Disney Company (DIS)
by: Mick Weinstein

Excerpt from our One Page Annotated Wall Street Journal Summary (get it e-mailed to you every morning by signing up here):

'Pirates' Plunders Box Office On Way to a Record

  • Summary: Disney's movie Pirates of the Caribbean: Dead Man's Chest broke the record for opening weekend box office performance, raking in $132.03 million. Disney had made a big bet on this film -- investing over $450 million in two Pirates sequels to the 2003 smash The Curse of the Black Pearl. It couldn't have come at a better time for Disney Studios, which posted a major loss for fiscal 2005 and disappointing revenue for the past two quarters. PG-13 rated "Pirates" is the latest effort of Disney to reach a broader audience than its traditional child-focused films.
  • Comment on related stocks/ETFs: Disney CEO Bob Iger noted the importance of this film on the company's most recent conference call. Disney stock may get a boost this morning in response.