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Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. Royal Caribbean , Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.
Persons: Chipotle, Refinitiv, Lam, L3Harris, Willis Towers Watson, Northrop Grumman, Northrop, Sunnova, Edwards, StreetAccount, , Alex Harring, Hakyung Kim, Samantha Subin, Yun Li Organizations: Refinitiv, Cruise, Royal Caribbean, Lam Research, KLA Corp, , L3Harris, Northrop Grumman, Northrop, Management, Energy, Honeywell, Honeywell International, Comcast —, Comcast, Southwest Airlines, eBay, Wall Street, CNBC Locations: Royal Caribbean, Refinitiv
Chipotle reported $2.51 billion in revenue, while analysts polled by Refinitiv had expected revenue of $2.53 billion. Meta Platforms — The Facebook parent jumped nearly 9% after reporting earnings and revenue for the second quarter that topped analysts' estimates. Same-store sales grew 11.7% in the second quarter. Sunnova Energy — Shares of the solar company slid more than 7% following weaker-than-expected financial results in the second quarter. Sunnova posted a wider-than-expected loss of 74 cents per share, while analysts expected a loss of 42 cents per share, according to FactSet.
Persons: Chipotle, Refinitiv, Edwards Lifesciences, Meta, Lam, McDonald's, Richard Dickson, Sunnova, , Jesse Pound, Alex Harring, Yun Li Organizations: Southwest Airlines —, eBay, FactSet, Technology, Revenue, Facebook, Lam, Honeywell —, Honeywell, Mattel, Comcast —, NBC, Management, Energy, Comcast, CNBC Locations: Refinitiv, China, FactSet
Bank of America reiterates Roku as buy Bank of America said it's bullish heading into Roku earnings Thursday. Bank of America reiterates Mattel as buy Bank of America said it's standing by shares of Mattel after its earnings report, adding that "Barbie" should help drive toy sales. Bank of America upgrades Boeing to buy from neutral Bank of America said the worst for Boeing is behind it. Bank of America downgrades RTX to neutral from buy Bank of America downgraded the company formerly known as Raytheon and said it's concerned about slowing margins. Bank of America downgrades SunPower to underperform from neutral The firm said in its downgrade of the stock that it sees multiple headwinds.
Persons: Roku, it's, Needham, Rivian, Bernstein, KeyBanc, Morgan Stanley downgrades Carvana, Morgan Stanley, Jefferies, Estée Lauder, billings, Wells, Wells Fargo Organizations: . Bank of America, Bank of America, Apple, RBC, Owens, Mattel, Boeing, of America, downgrades, Pacific, Barclays, Raytheon, Labs Locations: China, Pacific
Check out the companies making headlines after the bell:Meta Platforms – Shares of Meta Platforms jumped nearly 6% on stronger-than-expected quarterly results. Chipotle reported adjusted earnings of $12.65 a share on $2.51 billion in revenue. The entertainment technology company reported adjusted earnings of 26 cents a share. Lam posted adjusted earnings of $5.98 per share, beating estimates by 91 cents per share, per Refinitiv. L3Harris reported adjusted earnings of $2.97 a share on $4.69 billion in revenue, and lifted earnings and revenue guidance.
Persons: Chipotle, Refinitiv, Lam, — ServiceNow, FactSet, Sunnova, Richard Dickson, L3Harris, Aerojet, Macheel, Sarah Min, Darla Mercado Organizations: Meta, Revenue, Lam, eBay, Energy, Technology, Mattel –, Mattel, Seagate Technology, Technologies, Federal Trade Commission, L3Harris Locations: FactSet, Refinitiv
Here are Tuesday's biggest calls on Wall Street: UBS reiterates Nike as buy UBS said it's getting incrementally bullish on the stock and that it could double. " BTIG upgrades Zscaler to buy from neutral BTIG said its checks on the IT stock have been "consistently positive." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating heading into Apple earnings next week. Goldman Sachs reiterates Apple as buy Goldman said it's standing by its buy rating heading into earnings next week. Morgan Stanley names Elevance a top pick Morgan Stanley named the health insurance provider as a top pick and said it sees further earnings per share growth.
Persons: it's, Morgan Stanley, Apple, Piper Sandler, Wells, Goldman Sachs, Goldman, Mizuho, Oppenheimer, TSCO, Citi downgrades Goldman Sachs, TD Cowen, Wolfe, Baird, HWM, Elevance, Comm, Flywire Organizations: UBS, Nike, Apple, Walmart, Piper, Signet, Superior Unit, Costco, Citi, adv, 2Q, Meta, Digital Ad, Bank of America downgrades, Supply, Bank of America, HSBC, Zynga, Disney, Mizuho, Howmet Aerospace, Airbus Locations: Wells Fargo, 2Q23
Despite a softer-than-expected second quarter, IMAX screens should still reach the full-year expectation of $1.1 billion in the global box office, Mejias said. That's driven in part by the strength of "Oppenheimer," which drove consumers to IMAX screens over the weekend. The pairing, which included Warner Bros. "Barbie," helped drive the fourth highest grossing box office weekend ever, according to Comscore. With the Chinese box office activity returning, the company could reach pre-pandemic business levels by 2024, Mejias said. "We believe the continued over-indexing of IMAX screens in the post-pandemic moviegoing environment provides evidence of a structural improvement of consumer demand toward the format."
Persons: Oppenheimer, Wells Fargo, Omar Mejias, Mejias, That's, Barbie, Napoleon, Richard Gelfond, Taylor, Riley, Eric World, Wold, — CNBC's Michael Bloom, Thomas Rotunno, Sarah Whitten Organizations: Universal, Warner Bros, Comcast, CNBC Locations: Monday's
The opening weekend success of Warner Bros. Warner Bros. Discovery, Comcast and Paramount in 2023 Wolfe Research managing director Peter Supino said Warner Bros. Given the box office numbers, Nispel said the weekend will likely be positive for Warner Bros. B. Riley's Eric Wold noted IMAX screens were able to "completely dominate" this weekend for "Oppenheimer" showings.
Persons: Oppenheimer, Rosenblatt, Steve Frankel, WBD, Peter Supino, Brandon Nispel, Nispel, Barbie, Gordon Haskett, Don Bilson, They're, Roth, David Bellinger, Bellinger, it's, Eric Wold, It's, Wold, Alicia Reese, — CNBC's Michael Bloom, NBCUniversal Organizations: Warner Bros, Discovery, Universal, Comcast, Paramount, Wolfe Research, Mattel, Hollywood, MAT, AMC Entertainment, AMC, CNBC Locations: Delaware, NBCUniversal
Knight-Swift Transportation — The freight transportation company's shares gained more than 1%. Knight-Swift reported adjusted earnings of 49 cents per share on revenue of $1.55 billion. Intuitive Surgical reported adjusted earnings of $1.42 per share on revenue of $1.76 billion. The fast-food chain reported mixed quarterly results, including adjusted earnings of $3.08 per share, beating analysts' predictions for $3.05 per share. Spotify — The music streaming company's shares dropped 5.5% after Spotify announced price increases for its premium subscription plans.
Persons: Oppenheimer, Riley, Eric Wold, Barbie, Mike Wirth, Chevron, Swift, Domino's, Becton Dickinson, Raymond James, Gilead, Estée Lauder, Piper Sandler, — CNBC's Hakyung Kim, Yun Li, Alex Harring, Samantha Subin Organizations: AMC, Mattel, Warner Bros, Chevron, Swift Transportation, U.S . Food, Drug Administration, Sirius XM, Deutsche Bank, Nasdaq, Spotify, Gilead Sciences Locations: New York, U.S, Gilead, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers won't cut out going to theaters even if US ends up in recession, says IMAX CEORich Gelfond, IMAX CEO, joins 'Squawk on the Street' to discuss why 'Barbenheimer' was a unique deal for IMAX, why the company's market share has risen, and the paradigm shift Gelfond has noticed.
Persons: Rich Gelfond
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush: IMAX will likely benefit from the "Barbenheimer" box office effectAlicia Reese, Senior Associate at Wedbush, discusses the outlook for the summer box office following this weekend's "Barbie" and "Oppenheimer" releases.
Persons: Alicia Reese, Oppenheimer
Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.
Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk
It’s the “Barbenheimer” double feature, and it started its life, as most phenomena do, as a meme. He says he’s seeing “Oppenheimer” first, on its opening Friday, and then “Barbie” “right after” so he gets to experience both with packed houses. Neither “Barbie” nor “Oppenheimer” seem like they’ll be boring, so ahead of both films, use the restroom. Use it again between “Oppenheimer” and “Barbie.” Gerwig’s film is also the more ICEE-friendly film, so re-up on snacks and such in between. 10:50 a.m.: Arrive 10 minutes early for “Oppenheimer,” get an extra-large popcorn and prepare for cinematic annihilation.
Persons: Greta Gerwig’s, Barbie ”, Christopher Nolan’s “, Oppenheimer, , Margot Robbie’s Barbie, It’s, “ Barbie ”, , “ Oppenheimer, “ Barbie, Ken, Nicole Kidman’s, Nolan, you’ll, ‘ Oppenheimer, Cillian Murphy, ” can’t, Tom Cruise, Emma Mackey, Simu Liu, Margot Robbie, Ryan Gosling, , it’s, you’ve, you’re, celebs, Christopher Nolan, Wes Anderson’s, Florence Pugh, Barbie Organizations: CNN, Warner Bros, Discovery, AMC, Pictures, Universal Locations: cliffhangers, , New Mexico
Starting this week, it will be one of only 30 theaters in the world screening Christopher Nolan's latest blockbuster "Oppenheimer" in 70-millimeter IMAX film. What makes 70mm film so special, Keighley explains, is the level of detail it can capture. While a modern digital projection is equivalent to a 4K display, 70mm film is equal to roughly 18K. The last film to receive a 70mm IMAX release was Nolan's "Tenet" in 2020. Of the 30 theaters equipped to show the 70mm IMAX print of "Oppenheimer," only 19 are in the United States.
Persons: Christopher Nolan's, Oppenheimer, David Keighley, Tenet Organizations: AMC Lincoln, CNBC, Keighley Locations: United States, Canada, United Kingdom, Australia, Czech Republic
To film buffs who are buffs, specifically, of film — of movies shot and projected with a physical, photochemical product — comparing IMAX 70-millimeter to IMAX digital, let alone standard digital, is like comparing lightning to the lightning bug. “It’s how much of the image you’re missing if you see it on another screen,” said Birlidis, a former theater manager. The first time he saw the 1982 film “Blade Runner,” one of his favorites, he added, was on a pirated VHS tape. He can cite several IMAX 70-millimeter destinations off-the-cuff. (The AMC Metreon in San Francisco is “a wonderfully huge screen.”) He knew Brooklyn has one of the roughly 100 theaters showing “Oppenheimer” in ordinary 70-millimeter film — an “absolutely beautiful” print, he said.
Persons: , Birlidis, , ” Nolan, Oppenheimer, Nolan, “ Oppenheimer Organizations: AMC Locations: San Francisco, Brooklyn
It would have seemed inconceivable then, but the atomic bomb did fade out of mind. And it’s precisely at this moment that Christopher Nolan is asking audiences to look it soberly in the eye. As the name suggests, Nolan has taken on the life of J. Robert Oppenheimer, the scientific genius and conflicted godfather of the atomic bomb. Cillian Murphy as godfather of the atomic bomb J. Robert Oppenheimer in "Oppenheimer." But even if a war involving a nuclear power hadn’t erupted in Europe in 2022, Nolan believes “Oppenheimer” contains crossover anxieties.
Persons: CNN —, Dimitri, Stanley Kubrick’s, Strangelove, Christopher Nolan, ” Nolan, “ Oppenheimer, , Nolan, J, Robert Oppenheimer, Cillian Murphy, Oppenheimer, , Robert Oppenheimer ”, Kai Bird, Martin Sherwin, , “ We’re, ” Murphy, McCarthy, Kitty, Emily Blunt, Jean Tatlock, Florence Pugh, Chris, Matt Damon, Leslie Groves, Spielberg, Ryan, , Chris Nolan, Robert Downey Jr, Lewis Strauss, Damon, it’s, ” Cillian Murphy, Melinda Sue Gordon, Universal Pictures Nolan, Murphy, Universal Pictures Kubrick, There’s, ” Downey, Knight ”, there’s, ” “ Oppenheimer ” Organizations: CNN, Manhattan, U.S . Atomic Energy Commission, Universal Pictures, Los Alamos, Manhattan Project, Trinity Locations: Cambridge, Russia, Ukraine, New Mexico, Europe
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Persons: Dow Jones, oppenheimer
[1/2] A woman takes a picture of a movie poster for Oscar-winning Japanese animation master Hayao Miyazaki's film "How Do You Live?" outside a movie theatre in Tokyo, Japan, July 14, 2023. "I was really excited to see a Miyazaki movie," said Michiru Miyasato, an 18-year-old student who came to the first showing at a central Tokyo cinema. In a first for Miyazaki's films, which include "Princess Mononoke" and "My Neighbour Totoro," this one also has an IMAX release. "So I was really, really looking forward to it."
Persons: Oscar, Hayao Miyazaki's, Kim Kyung, Hoon, Hayao Miyazaki, Michiru Miyasato, Yumiko Kokubo, Toshio Suzuki, Mononoke, Miyazaki, Rens Takahashi, Elaine Lies, Mark Heinrich Our Organizations: REUTERS, Ghibli, Miyazaki, NHK, Thomson Locations: Tokyo, Japan, Hoon TOKYO
July 12 (Reuters) - Cinema operator IMAX (IMAX.N) said on Wednesday it has proposed to acquire full ownership of its Hong Kong-listed, China subsidiary in a deal valued at about $124 million. The acquisition of IMAX China will improve the company's operational flexibility and enable it to apply its technology in the Chinese market, IMAX said. It has offered to buy shares of its Chinese subsidiary at HK$10 each, a 49% premium to their 30-day average closing price. Daniel Manwaring will continue as IMAX China CEO after the completion of the deal and will oversee the local business functions including distribution, marketing and finance, the cinema operator said. IMAX China, established in 2011, will remain headquartered in Shanghai with offices in Beijing.
Persons: Daniel Manwaring, Akanksha, Vinay Dwivedi Organizations: HK, IMAX, Thomson Locations: Hong Kong, China, IMAX China, Shanghai, Beijing, Bengaluru
CNN —It squats on the Las Vegas skyline like an enormous spaceship, black and mysterious – until night falls, when it will glow like the Earth from space. The MSG Sphere at The Venetian is pictured on March 20, 2023, in Las Vegas. The globe seats almost 18,000 people, sits one long block east of the fabled Las Vegas Strip and will be connected by a pedestrian walkway to the Venetian resort complex. But Sphere’s main draw may be as a venue for live music – especially the marquee residencies for which Vegas is known. An artist's rendering of the audience bowl inside Sphere, with undersea imagery projected on its wraparound LED screen.
Persons: It’s, , Bizuayehu, Rich Claffey, “ I’ve, I’ve, I’m, Darren Aronofsky, They’re, Bono, … ”, you’re, ” Claffey Organizations: CNN, Eiffel, Western, Apple, Las Vegas, Bellagio, Allegiant, Locations: Vegas, Las Vegas, New York City
It's Old Man Summer in Hollywood
  + stars: | 2023-07-02 | by ( Ellen Gamerman | ) www.wsj.com   time to read: 1 min
“These movie stars literally invented blockbusters in the ‘80s,” says Richard Gelfond, chief executive of IMAX, the entertainment technology company. “There is a reason these old men are still around.”Harrison Ford in 1984's “Indiana Jones and the Temple of Doom.” Photo: Paramount/Everett Collection
Persons: , Richard Gelfond, ” Harrison Ford, Indiana Jones Organizations: Paramount, Everett
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTom Cruise 'calmed down' on IMAX MI7 bump 'he's rooting for everybody': Imax CEO Richard GelfondRichard Gelfond, IMAX CEO, joins 'Last Call' to talk the summer blockbuster season, Tom Cruise's reported anger over the new Mission Impossible 7 movie being bumped, and more.
Persons: Tom Cruise, Richard Gelfond Richard Gelfond, Tom Cruise's
Cameron, who is also the director of the Oscar-winning movie “Titanic,” has shared his perspective on the “catastrophic implosion” that killed five aboard the Titan submersible on its way to tour the Titanic wreckage. The youngster would also track a then new deep-sea submersible named Alvin. “It was such a golden age of technological exploration,” Cameron said of the time. Cameron told NPR in 2012 that there is a connection between what he does professionally in films and his personal life as an explorer. “But it has problems, because there’s no second take!”Record breaking explorationAlong with his exploring, Cameron fell in love with the technology that makes deep-sea diving possible.
Persons: James Cameron, Cameron, Oscar, , ” Cameron, CNN’s Anderson Cooper, Jacques Cousteau’s, , Playboy, , there’s, Saul Loeb, Mariana Trench, Earth Cameron Organizations: CNN, Titan, National Geographic, Geographic, Getty Locations: Ontario, Canada
CNN —James Cameron isn’t just one of Hollywood’s most successful directors ever, he’s also a lover of deep sea exploration. Here’s what the director has said in the past about the deep sea exploration. Cameron took cameras to document the entire trek in the western Pacific. The sub’s just going like a bat out of hell.”Quickly, he said, he went past Titanic depth. I get to bear witness to a miracle that’s down there all the time,” Cameron told 60 Minutes Australia in 2018 of his deep sea explorations.
Persons: James Cameron isn’t, he’s, , Cameron, ’ Cameron, Playboy, , , ” Cameron, Jacques Cousteau’s, Joe MacInnis, MacInnis, Mariana Trench, Suzy Amis Cameron, Lizzy Calvert, you’ve Organizations: CNN, National Geographic, Royal Ontario Museum, Geographic, Australia Locations: Ontario, Canada, Toronto, Pacific,
Ezra Miller at the premiere of "The Flash" held at TCL Chinese Theatre IMAX on June 12, 2023 in Los Angeles, California. After nearly a decade in development, "The Flash" is finally speeding into theaters this weekend. Discovery feature arrives at a time of significant change at the company and after a string of legal controversies for its star, Ezra Miller. With a predicted opening in the range of $75 million to $85 million, "The Flash" is expected to be a welcome box-office contribution to the DC Comics franchise. In addition to Miller, it features Michael Keaton and Ben Affleck reprising their Batman roles from earlier films.
Persons: Ezra Miller, Miller, Michael Keaton, Ben Affleck, Adam, , Peter Safran, James Gunn, Safran, Gunn Organizations: Warner Bros, DC Comics, Ovation Hollywood, DC Studios, DC, Marvel, Guardians Locations: Los Angeles , California, Hawaii, Stamford , Vermont, Los Angeles
related investing news Here's what analysts are saying about Apple's new Vision Pro headset The promise of Apple's new mixed-reality headset isn't really about the headset I got to take one for a test drive. The Vision Pro isn't large enough to fit glasses if you wear them. Even though most of the focus with Apple Vision is on the visuals, I was equally impressed by the audio. The Vision Pro has a pair of speakers that sit near your temples and provide a surround sound effect. But as someone who has tried just about every mainstream headset to date so far, I can tell you that Vision Pro feels like a $3,500 machine.
Persons: Josh Edelson, It's, Siri, I've, Apple, — audibly Organizations: Apple's Worldwide, Apple, AFP, Getty, Apple Watch, Quest, Vision, Meta's Locations: Cupertino , California
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