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Check out the companies making headlines in midday trading: Meme stocks — Meme stocks roared for a second day with GameStop surging more than 65% and AMC popping over 70%. AMC's Tuesday rally came even after the movie theater said it completed a $250 million stock sale during Monday's wild trading. Sony — U.S.-listed shares jumped 5.3% after quarterly revenue came in at 3.5 trillion yen, topping the consensus expectation of 2.89 trillion yen from analysts polled by LSEG. On Holding — The shoe maker jumped 16% after first-quarter earnings came in well ahead of analysts' expectations. Boston Beer Company — Shares added 1% after the beer brewer was upgraded by Jefferies to buy from hold.
Persons: United, Newell Brands, Roth, , Yun Li, Michelle Fox, Samantha Subin, Hakyung Kim, Brian Evans Organizations: GameStop, AMC, Sony —, LSEG, Vodafone — U.S, United Airlines —, Barclays, Boston Beer, Jefferies, JPMorgan Locations: Europe
CNBC's Jim Cramer said investors should get out of stocks like GameStop and AMC , both of which saw huge rallies this week triggered by social media. "When I see meme stock mania taking over again, led by GameStop and AMC, I need to remind you that this is irrational," he said. AMC and GameStop soared after "Roaring Kitty," the man who helped bring on 2021's enormous GameStop short squeeze, posted online for the first time in about three years. To Cramer, GameStop is overvalued compared to its peer electronic retailers. GameStop and AMC did not respond immediately to requests for comment.
Persons: CNBC's Jim Cramer, Cramer Organizations: GameStop, AMC
Cars drive near an AMC Theater in New York City on March 29, 2023. The stock, alongside GameStop , surged this week after "Roaring Kitty," the man who inspired the massive short squeeze of 2021, posted online for the first time in nearly three years. The return of Roaring Kitty, whose legal name is Keith Gill, has led AMC shares to more than double since Friday's close. The last time these retail investors rallied around AMC and its stock surged, the movie theater chain was able to avoid bankruptcy. While the acquisitions bolstered the size AMC's theater network, they also levered the company's balance sheet, Handler said.
Persons: Roaring Kitty, Keith Gill, Adam Aron, Eric Handler, Roth, Handler Organizations: AMC, GameStop Locations: New York City
Meme stocks are back, and the mania is actually spreading far beyond GameStop and AMC Entertainment . The latest frenzy was triggered by a single post on social media site X from "Roaring Kitty," the man who inspired the epic meme stock mania in 2021. Quiver Quantitative , an alternative data analytics firm, looked to find all the meme stocks that are popular among the Reddit traders. A few names associated with the artificial intelligence boom also became popular meme stocks, including voice AI and speech recognition company SoundHound AI , AI IT services firm BigBear.ai and Super Micro Computer , a maker of servers. Other under-the-radar meme names included B. Riley Financial, Spirit Airlines , Tilray Brands and Smart for Life.
Persons: Smart, Riley Organizations: GameStop, AMC Entertainment, Marathon Digital, IT, Micro, Nvidia, Riley, Spirit Airlines, Tilray
Gill, better known as Roaring Kitty, was the face of GameStop's surprise surge in 2021. The meme stock skyrocketed Monday as his return sent WallStreetBets into a frenzy. Keith Gill posted on X for the first time in nearly three years on Sunday, sending the meme stock sharply higher and sparking excitement on the Wall Street Bets subreddit. AdvertisementIt's unclear exactly what is signified by Gill's cryptic X post of a sketch showing a man leaning forward in his chair. Nevertheless Gill's return still sent r/wallstreetbets, whose users piled into meme stocks like GameStop, AMC, and Bed Bath & Beyond during the pandemic, into a frenzy.
Persons: Keith Gill, Gill, Kitty, WallStreetBets, , Paul Dano, Gill's, Paul Atreides, Vince McMahon Organizations: Service, GameStop, Financial Services Committee, AMC
Below, we'll break down all of your Interview with the Vampire Season 2 watch options. Where to watch Interview with the Vampire in the USInterview with the Vampire airs at 9 p.m. Shop at SlingWhere to watch Interview with the Vampire in the UKSeason 1 of Interview with the Vampire is available to stream for free through BBC iPlayer in the UK. This can also be used to watch Interview with a Vampire for free via TVNZ in New Zealand. How to watch Interview with the Vampire with a VPNSign up for a VPN if you don't already have one.
Persons: we've, Anne Rice, Louis de Pointe, Jacob Anderson, Daniel Molloy, Eric Bogosian, Lestat de Lioncourt, Sam Reid, Claudia, Bailey Bass, Delainey Hayles, Brad Pitt, Tom Cruise, you've, Philo Organizations: Business, AMC, Sling, BBC, HGTV, Lifetime, TVNZ Locations: Louis de Pointe du Lac, BBC America, New Zealand
Arm — Shares of British chip designer fell 1% in volatile trading after the company issued revenue guidance that left investors unimpressed. Airbnb said revenue in its second quarter total $2.68 billion to $2.74 billion, while analysts were expecting $2.74 billion, according to LSEG. AppLovin — The mobile technology company soared 19% on the heels of better-than-expected first quarter earnings . Warby lost 2 cents a share, narrower than the consensus forecast of 9 cents per share from analysts surveyed by FactSet. Cheesecake Factory — Shares rallied nearly 9% after the chain's first quarter earnings beat estimates.
Persons: FactSet, Forthe, Klaviyo, Airbnb, AppLovin, AMC's financials, Duolingo, , Warby Parker, Warby, Kate Spade, Roblox, That's, Raymond James, Ancora, Alan Shaw, Equinix, amortization, Charles Meyers, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Hakyung Kim, Tanaya Macheel, Michelle Fox, Scott Schnipper Organizations: LSEG, LSEG . Revenue, AMC Entertainment, Revenue, FactSet . Revenue, FactSet, Leadership, JPMorgan, Norfolk Southern, postmarket Locations: The Virginia
Quarterly revenue was $248 million, versus the $249.5 million expected from analysts polled by FactSet. Klaviyo guided for second-quarter revenue of $211 million to $213 million, higher than the $210 million expected from analysts polled by LSEG. AppLovin reported earnings per share of 67 cents, versus the 57 cents expected from analysts polled by LSEG. Bumble reported earnings per share of 19 cents, versus the 7 cents expected from analysts polled by FactSet. Adjusted earnings per share were 7 cents, versus the 6 cents expected.
Persons: Revenue, Klaviyo, AppLovin, AMC's, Duolingo, LSEG . Bumble —, Bumble, Warby Parker, Warby, Roblox, , Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: FactSet, Warner Bros, LSEG, postmarket, Revenue, AMC, FactSet . Revenue, Wall Locations: British
The Renaissance World Tour wrapped last October in Kansas City. So it would stand to reason — financially and thematically — that Beyoncé would plan another tour leg for "Cowboy Carter." He celebrated the release of "Cowboy Carter" on X, writing, "This tour bout to B' Incredible!" pic.twitter.com/KNHQOuqFI9 — COWBOY CARTER TOUR (@CowboyCarterWT) March 31, 2024However, the six-month turnaround since Beyoncé's last concert does cast suspicion on these theories. Thanks to "Renaissance: A Film by Beyoncé," we know the Renaissance World Tour took four years to ideate and execute.
Persons: Beyoncé, Carter, , Cowboy Carter, Tina Knowles, Lawson, Instagram, Knowles, KNHQOuqFI9, CARTER, she's, Gtg7f2jvSG — Antoinette “, ” Childs, @Beyonce, , GPhRrW1GiF — Nicolas Organizations: Service, Texas Locations: Kansas City, @TheFancyFriend
AMC owes Taylor Swift and Beyoncé — big time. CEO Adam Aron says 'literally all' of AMC's revenue growth in Q4 was from their concert films. To that end, it is no surprise that our praise for Taylor Swift and Beyoncé Knowles-Carter has no limit." And it wasn't just AMC that benefited from "Taylor Swift: The Eras Tour" and "Renaissance: A Film by Beyoncé." Aron said that the concert films made up one-ninth of Q4 box office earnings across the entire industry domestically.
Persons: Taylor Swift, Adam Aron, , Aron, Beyoncé Knowles, Carter, clamoring Organizations: AMC, Service, Beyoncé
Popcorn buckets are pictured during the "Taylor Swift: The Eras Tour" concert movie world premiere at AMC The Grove in Los Angeles on Oct. 11, 2023. "Literally all" that growth was tied to concert films from Taylor Swift and Beyoncé, AMC CEO Adam Aron told analysts Wednesday. AMC was behind "Taylor Swift: The Eras Tour" and "Renaissance: A Film by Beyoncé," the first movie distributions in the company's 103-year-old history. U.S. market share for AMC, based outside Kansas City, expanded as a result of the two movies, Aron said. To that end, it is no surprise that our praise for Taylor Swift and Beyoncé Knowles-Carter has no limit."
Persons: Taylor Swift, Nicole Kidman, Adam Aron, Aron, Beyoncé, Beyoncé Knowles, Carter Organizations: AMC, Disney Locations: Los Angeles, ., Kansas City
Cramer's Lightning Round: 'We don't want' AMC
  + stars: | 2024-01-29 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Northrop Grumman's year-to-date stock performance. Stock Chart Icon Stock chart icon John Bean Technologies' year-to-date stock performance. Stock Chart Icon Stock chart icon AMC's year-to-date stock performance. Stock Chart Icon Stock chart icon Procore Technologies' year-to-date stock performance. Procore Technologies : "That's a very, very expensive stock...I say ka-ching ka-ching on some of that one."
Persons: Northrop, I'm, John Bean, AMC's Organizations: Northrop Grumman, John Bean Technologies, AMC, Technologies, Procore Technologies
Read previewCash-hungry entertainment studios are back in the content licensing game, sending their valuable shows like HBO's "Sex and the City" and Disney's "Grey's Anatomy" back to Netflix. Licensing has historically been a mainstay of entertainment companies, except for a brief period when many hoarded content while they built up their own streaming services. "It's the future," said Dan Cohen, the chief content licensing officer at Paramount. Netflix and other entertainment companies that sought full ownership of content as they built up their streaming services are now becoming more agnostic about it. But, for now, the major entertainment companies don't have much of a choice.
Persons: , Mike Pears, Pears, Jessica Reif Ehrlich, Dan Cohen, Reif Ehrlich, Mitch Metcalf, Metcalf, Meeka Bondy, Perkins, John Hodulik, Tim Nollen, Netflix's, it's, Nollen Organizations: Service, Netflix, Business, AMC, Apple, Warner Bros . Discovery, Paramount, Bank of America, ABC, NBC, Metcalf Entertainment Intelligence, UBS, CBS, Macquarie, Hulu
The House Ethics Committee released a report regarding its investigation into George Santos. Included in its hundreds of pages of evidence are documents showing stocks Santos once traded. It appears he bought and sold stocks of GameStop and AMC when it en vogue. Buried in "Exhibit 58" of the committee's "Appendix D Part 5" is a selection of tens of thousands of dollars worth of GameStop and AMC Entertainment stock trades Santos reported making in 2021. AdvertisementIn early 2021, hobby stock traders from the "WallStreetBets" subreddit purchased stocks in GameStop en masse after learning investors had begun to short it.
Persons: George Santos, , Santos, It's, subreddit, Hermes Organizations: Santos, GameStop, AMC, Service, GOP Rep, House, AMC Entertainment Locations: Santos
AMC beats quarterly revenue estimates on 'Barbenheimer' boost
  + stars: | 2023-11-08 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNov 8 (Reuters) - AMC Entertainment (AMC.N) beat third-quarter revenue estimates on Wednesday, riding on the success of "Barbie" and "Oppenheimer" movies as volumes of theatrical releases also improved at the box office. Attendance in AMC theaters increased 38.4% to 73,576 in the third quarter. The movie theater chain posted revenue of $1.41 billion for the quarter ended Sept. 30, compared with estimates of $1.26 billion, according to LSEG data. "For both revenue and adjusted EBITDA, these were AMC's most successful third-quarter results in our company's entire 103-year history," Aron added. AMC's profit per share stood at 8 cents, compared with estimates of a loss of 19 cents per share.
Persons: Mario Anzuoni, Oppenheimer, Alicia Reese, Taylor Swift, Beyonce, Adam Aron, Aron, Jaspreet Singh, Krishna Chandra Eluri, Shounak Organizations: AMC, REUTERS, AMC Entertainment, Thomson Locations: Burbank , California, U.S, Bengaluru
Taylor Swift is officially a billionaire, thanks in part to her lucrative Eras tour. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. There's one thing she's not showing off — or at least not directly: How much money all this is making her. Swift has been through many eras, but her reputation has always been one of relatability. Through her tour, Swift has earned hundreds of millions of dollars on a show for which tickets at face value cost an average $254 in the US — more than double the average concert ticket price of $120, according to Pollstar .
Persons: Taylor Swift, Swift hasn't, , Taylor Swift's, she's, Travis Kelce, Swift, Jay, Kylie Jenner, — Swift hasn't, Pollstar, hasn't, Adam Aron Organizations: Service, Bloomberg, Forbes, Big
This "resentment toward her abusers" may have led her to text Aron — a wealthy, powerful man in the public eye, her lawyers said. "Send me a naughty picture," Blackwood texted, a couple weeks into their flirty exchange. When he asked for photos in return, Blackwood sent him images of an unnamed Russian model that she pulled from Instagram. "Ceo scandal is apparently lucrative," Blackwood texted, posing as Brian. AdvertisementAdvertisement"I was shown some images and I was wondering if you're available to speak," the fake reporter texted Aron.
Persons: Adam Aron's, Mia, Aron, Sakoya Blackwood, Adam Aron, Matthew Belloni, Blackwood, She'd, Evander, , Aron —, paramour, Koya Blackwood Fews, Lila Cohen, Brian, Blackwood texted, he'd, they'd, Brian —, He'd, Brian didn't, there's, he's, abt, Aron didn't, Blackwood didn't, texted Aron, hadn't, Jeff Bezos, Bezos, fiancée Lauren Sanchez —, Aron hasn't, hasn't, Taylor, unfazed, He's Organizations: of, United States, Court Southern District of, Hollywood, AMC, Evander Childs High School, , Instagram, Arizona, National Enquirer, ppl, FBI, Twitter, Amazon Locations: Southern, of New York, Court Southern District of New York, Bronx, Jamaica, Russian, York City, California, Sinai, Aron
Taylor Swift and AMC have collected the receipts and results are in: the Eras Tour concert film is the second-highest domestic opener of October ever. The Eras Tour concert film has already shattered records and is likely to break a few more before its run is done. No concert film had ever elicited such fervor so quickly for ticket sales or drummed up so much demand with theater chains. Meanwhile, the highest October opening, Warner Bros.' "Joker" from 2019, secured $13.3 million from Thursday previews, feeding a $39.3 million opening day. Additionally, while Swift's film arrived in 3,855 theaters, the most for any concert film, "Joker" opened in nearly 4,400 locations, according to data from Comscore.
Persons: Taylor Swift, weren't, didn't, Joker, Michael Jackson's Organizations: AMC, CNBC, Warner Bros
U.S. singer-songwriter Taylor Swift performs during her Eras Tour at Sofi stadium in Inglewood, California, August 7, 2023. Taylor Swift, the cultural juggernaut known for shattering records, said on Wednesday that the documentary film from her billion-dollar Eras concert tour will offer one-day early-access showings in the U.S. and Canada. "Due to unprecedented demand we're opening up early access showings of The Eras Tour Concert Film on Thursday in America and Canada. Previously, Swift had said the movie, "Taylor Swift: The Eras Tour," would only be released in North America, but it was later announced that it would be screened worldwide. Last week, AMC's shares rose 11% after the company said that advance ticket sales for the concert film had topped $100 million globally.
Persons: Taylor Swift, We're, Swift Organizations: AMC Entertainment, Cineplex, Hollywood Locations: Inglewood , California, U.S, Canada, America, North America
Adam Aron, chairman and CEO of AMC Entertainment, listens during the Milken Institute Global Conference in Beverly Hills, California, on Oct. 18, 2021. AMC CEO Adam Aron confirmed Thursday he was the victim of a blackmail attempt by a New York woman last year. The case had been previously publicized, identifying the victim in legal documents only as a CEO of a publicly traded company. The New York woman behind the blackmail attempt, Sakoya Blackwood, pretended to be a former romantic partner of Aron using an anonymous online account beginning in March 2022. "This indeed was entirely a personal matter, and the matter is closed," Aron said.
Persons: Adam Aron, Aron, Sakoya Blackwood, Blackwood, AMC's Organizations: AMC Entertainment, Milken Institute Global Conference, AMC Locations: Beverly Hills , California, New York, York, Manhattan
[1/6] Taylor Swift attends a premiere for Taylor Swift: The Eras Tour in Los Angeles, California, U.S., October 11, 2023. REUTERS/Mario Anzuoni Acquire Licensing RightsOct 11 (Reuters) - Taylor Swift, the cultural juggernaut known for shattering records, said on Wednesday that the documentary film from her billion-dollar Eras concert tour will offer one-day early-access showings in the U.S. and Canada. "Due to unprecedented demand we're opening up early access showings of The Eras Tour Concert Film on Thursday in America and Canada. Previously, Swift had said the movie, "Taylor Swift: The Eras Tour," would only be released in North America, but it was later announced that it would be screened worldwide. Last week, AMC's shares rose 11% after the company said that advance ticket sales for the concert film had topped $100 million globally.
Persons: Taylor Swift, Mario Anzuoni, We're, Swift, Baranjot Kaur, Leslie Adler Organizations: REUTERS, AMC Entertainment, Hollywood, Thomson Locations: Los Angeles , California, U.S, Canada, America, North America, Bengaluru
A woman was last year indicted after catfishing an anonymous CEO and threatening to release sexually explicit photos. Semafor reported Thursday that the CEO was Adam Aron, boss of movie theater giant AMC. Aron confirmed the report in a post on X, saying he was "the victim of an elaborate criminal extortion." Soon after Semafor reported that Aron was the victim in the case, he confirmed the news in a post on X. The following day, Blackwood then asked him to send sexually explicit photos, and he complied — including sending one of him with another woman — prosecutors said.
Persons: Semafor, Adam Aron, Aron, , Blackwood, Mia Organizations: AMC, Service, Prosecutors, of New York Locations: Southern
Beyonce's concert film to be distributed globally by AMC
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +1 min
The film follows a similar release by pop superstar Taylor Swift, whose Eras Tour concert film will be distributed in cinemas in North America starting Oct. 13. The concert films provide cinema chains such as AMC, Cinemark and Cineplex, with high-profile titles to help fill gaps caused by a prolonged strike by actors and writers in Hollywood. AMC's rival Cinemark (CNK.N) also announced that it will play the concert film in its U.S. theaters. Both cinema chains said their standard showtime tickets in the U.S. will start at $22. Entertainment website Variety first reported Beyonce's talks to release "Renaissance" through AMC.
Persons: Beyonce, Mario Anzuoni, Taylor Swift, Cinemark, Beyonce's, Jyoti Narayan, Sharon Singleton Organizations: REUTERS, AMC Entertainment, AMC, showtime, Entertainment, Variety, Thomson Locations: Los Angeles , California, U.S, North America, Europe, Hollywood, United States, Canada, Mexico, Bengaluru
AMC shares are headed to below $5, says Citi
  + stars: | 2023-09-26 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
Shares of meme stock favorite AMC could be headed for a nearly 70% pullback, according to Citi. AMC YTD mountain AMC stock. AMC stock has plummeted roughly 77% from the start of the year. Bazinet added, however, that AMC common equity stock is still woefully overpriced. "At prevailing levels, we view AMC's common equity as overvalued," he said.
Persons: Jason Bazinet, Bazinet, — CNBC's Michael Bloom Organizations: AMC, Citi
UBS reiterates Levi Strauss as buy UBS said Levi Strauss' earnings will be less bad than feared in early October. Oppenheimer names Domino's a top pick Oppenheimer named Domino's as a top pick and said the downward revision cycle has "bottomed." Bank of America reiterates Meta as buy Bank of America said it's bullish heading into Meta's annual Connect conference event on Wednesday. "Given Meta's increased focus on integrating Al across surfaces, and CEO commentary on AI Agents on prior earnings calls, we believe the event may also include announcements on new AI/ML products." Citi reiterates Micron as buy Citi said its bullish heading into Micron earnings on Wednesday.
Persons: Baird, Levi Strauss, LEVI, Morgan Stanley, Oppenheimer, Domino's, Stifel, it's, Tesla, TSLA, Jefferies, Edwards, Goldman Sachs, Goldman Organizations: UBS, Barclays, Bank of America, Meta, Agents, JPMorgan, Apple, Nike, Citi, Micron, RBC, HSBC, AMC, ~$ Locations: Greater China, China
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