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Sectors

Sector Update: Consumer Stocks Lower in Late Afternoon Trading

Consumer stocks declined late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.In corporate news, Blackstone's (BX) portfolio firm Safe Harbor has agreed to acquire MarineMax (HZO) for $53 per share in cash, valuing the recreational boat retailer at about $1.5 billion, including debt, the companies said Monday. MarineMax shares surged 46%.Lincoln Educational Services (LINC) shares fell 23% after the company reported lower-than-expected student start growth of only 1% in Q2.GameStop (GME) Chief Executive Ryan Cohen is considering pulling the company's $56 billion bid for eBay (EBAY), Bloomberg reported Monday. Cohen is instead weighing a proposal for a joint venture or partnership that would let eBay leverage GameStop's roughly 1,600 US retail locations, the report said. GameStop shares were down 1.8%, and eBay fell 3.4%.Imax (IMAX) said Monday that "The Odyssey" is now the highest grossing IMAX release of all time with $289 million in ticket sales in less than a month. The film has taken in a total of $147 million in IMAX in North America during the period, the company said. Imax shares gained 4.9%.

$BX$EBAY$GME$HZO$IMAX$LINC
Sectors

Sector Update: Consumer Stocks Softer Monday Afternoon

Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, GameStop (GME) Chief Executive Ryan Cohen is considering pulling the company's $56 billion bid for eBay (EBAY), Bloomberg reported Monday. Cohen is instead weighing a proposal for a joint venture or partnership that would let eBay leverage GameStop's roughly 1,600 US retail locations, the report said. GameStop shares were down 0.8%, and eBay fell 3.2%.Imax (IMAX) said Monday that "The Odyssey" is now the highest grossing IMAX release of all time with $289 million in ticket sales in less than a month. The film has taken in a total of $147 million in IMAX in North America during the period, the company said. Imax shares gained 4.7%.Sony (SONY) and Taiwan Semiconductor Manufacturing (TSM) are in talks to invest a total of 1 trillion Japanese yen ($6.31 billion) on a planned image sensor factory in Japan, news outlets reported Monday. Sony shares added 1.7%.About 18,000 boxes of Diageo (DEO) liquor bottles were seized by Indian inspectors for allegedly lacking mandatory markings indicating they were made from food-grade recycled plastic, Reuters reported Monday, citing government sources. Separately, Diageo received a warning from India's food safety regulator regarding misleading claims that one of its popular whiskies was aged in American oak casks, Reuters reported Saturday, citing a confidential government notice. Diageo shares were up 0.2%.

$DEO$EBAY$GME$IMAX$SONY
Wire

IMAX Reports Record Sales for 'The Odyssey'

IMAX (IMAX) said Monday that "The Odyssey" is now the highest grossing IMAX release of all time with $289 million in ticket sales in less than a month.The film has taken in a total of $147 million in IMAX in North America during the period, the company said.The strong performance lifted IMAX to an a fourth consecutive weekend of $50 million-plus at the global box office, the company said.Shares of IMAX were up 2%.Price: $49.49, Change: $+0.96, Percent Change: +1.98%

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.9%.In corporate news, Marriott International (MAR) reported Q2 revenue below Wall Street's estimates amid headwinds from the Middle East conflict, while the company provided a downbeat Q3 earnings outlook. The shares fell 6.5%.Imax (IMAX) shares gained 6.1% after the company generated $257 million at the global box office in July, up 47% from its previous monthly record, driven by Christopher Nolan's "The Odyssey."Cinemark (CNK) recorded its biggest-ever domestic weekend box office, driven by "Spider-Man: Brand New Day" and "The Odyssey." The stock rose 4.1%.Coursera (COUR) shares jumped past 11% after Goldman Sachs upgraded the stock to neutral from sell and raised its price target to $6.50 from $5.50.

$CNK$COUR$IMAX$MAR
Sectors

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Monday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.7%.In corporate news, Marriott International (MAR) reported Q2 revenue below Wall Street's estimates amid headwinds from the Middle East conflict, while the company provided a downbeat Q3 earnings outlook. The shares fell 6.3%.Imax (IMAX) shares rose 5.1% after the company generated $257 million at the global box office in July, up 47% from its previous monthly record, driven by Christopher Nolan's "The Odyssey."Cinemark Holdings (CNK) recorded its biggest-ever domestic weekend box office, driven by "Spider-Man: Brand New Day" and "The Odyssey." The stock rose 3.3%.Anheuser-Busch InBev (BUD) shareholder Eugenie Patri Sebastien sold a 731 million euro ($842.4 million) stake in the company earlier this year, Bloomberg reported. Anheuser-Busch shares fell 2.8%.

$BUD$CNK$IMAX$MAR
Wire

IMAX Q2 Results Reinforce Long-Term Growth Outlook, Wedbush Says

IMAX's (IMAX) Q2 results reinforced its long-term growth outlook as higher theater installations and operating-expense leverage helped the company exceed expectations, Wedbush Securities said Friday in a report.Revenue rose 12% to $103 million, above the $94 million consensus estimate, while adjusted earnings before interest, taxes, depreciation, and amortization, excluding noncontrolling interests, reached $45 million, topping Wedbush's $39 million forecast, the report said.Weaker box-office results in China and a "modest" domestic market-share decline were temporary, and growth should be supported by more filmed-for-IMAX titles, rising local-language content, alternative programming beyond Hollywood releases and continued global expansion, Wedbush said.IMAX maintained its 2026 targets of $1.4 billion in global box-office revenue, 160 to 175 installations and an adjusted EBITDA margin of at least 45%, and the margin targets through 2028 may prove "conservative," the report said.Wedbush raised its price target on IMAX stock to $54 from $46 and reiterated its outperform rating.Price: $44.52, Change: $+0.56, Percent Change: +1.26%

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Wire

Barrington Research Adjusts IMAX Price Target to $50 From $46, Maintains Outperform Rating

IMAX (IMAX) has an average rating of buy and mean price target of $49.83, according to analysts polled by FactSet.Price: $44.63, Change: $+0.66, Percent Change: +1.51%

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Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 4.7%.In corporate news, Tesla (TSLA) shares fell past 14% after it reported an unexpected year-over-year decline in Q2 earnings, weighed by higher operating expenses related to research and development and AI initiatives.Albertsons (ACI) shares tumbled 23% after the grocery chain lowered its fiscal 2026 earnings and identical sales outlook and reported weaker-than-expected Q1 profits.American Airlines (AAL) lowered its full-year earnings outlook on Thursday as higher fuel costs drove Q2 bottom-line lower year on year, adding to signs that rising fuel prices are weighing on airline profitability. Its shares dropped 7.5%.IMAX (IMAX) shares jumped past 10% after it reported better-than-expected Q2 performance.

$AAL$ACI$IMAX$TSLA
Sectors

Sector Update: Consumer

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 4.7%.In corporate news, IMAX (IMAX) shares jumped past 10% after it reported better-than-expected Q2 performance.

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Comcast's Universal Pictures Nets $264.1 Million Global Opening for 'The Odyssey'
US Markets

Comcast's Universal Pictures Nets $264.1 Million Global Opening for 'The Odyssey'

Comcast (CMCSA) unit Universal Pictures' "The Odyssey" adventure drama fantasy soared in its theatrical debut over the weekend, taking in $264.1 million worldwide and giving the studio a box office win.The film grossed $124.5 million domestically and $139.6 million internationally over its opening weekend, according to a report by IMDbPro.IMAX (IMAX) screenings powered the successful debut, generating $29.6 million domestically across 444 screens, nearly 24% of North American market share, and $22.2 million internationally, setting all-time IMAX opening records in 26 territories including France, Germany, and Mexico."'The Odyssey' is among a rarified group of instant classic blockbusters in IMAX history that fully leverage our platform; as bullish as we are on its success, our experience tells us that even we don't know how this movie will grow our brand and business," IMAX Chief Executive Rich Gelfond said.The film has yet to open in several major Asian markets, with IMAX rollout scheduled for South Korea on Aug. 5, China on Aug. 14, and Japan on Sept. 11.AMC Entertainment (AMC) said surging demand for "The Odyssey" drove six of its key US theaters to run showtimes around the clock for over 85 consecutive hours throughout the weekend. The film marked AMC's highest-grossing opening weekend for an R-rated title since 2024.North American moviegoers purchased roughly 7.5 million tickets for the picture's opening run, CNBC reported, citing EntTelligence data. Premium large formats accounted for 45% of total ticket volume with an average price tag of $19, while specialized 70mm viewings generated 5% of overall turnout at roughly $22.50 per ticket.AMC shares jumped 13% in recent trade Monday, while IMAX rose 0.8%. Comcast fell 0.8%.Price: $23.71, Change: $-0.09, Percent Change: -0.36%

$AMC$CMCSA$IMAX
Research

Wells Fargo Downgrades IMAX to Equalweight From Overweight, Cuts Price Target to $41 From $47

IMAX (IMAX) has an average rating of buy and mean price target of $47.83, according to analysts polled by FactSet.

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June Domestic Box Office Likely to Set Up Best Second-Quarter Post COVID-19, B. Riley Says
US Markets

June Domestic Box Office Likely to Set Up Best Second-Quarter Post COVID-19, B. Riley Says

US box office revenue in June is likely to come in higher than previously projected, potentially setting up the best second-quarter performance after the COVID-19 pandemic, according to B. Riley Securities.Figures for the current ending month show box office collections are likely to come in at $1.05 billion, climbing 27% year over year and ahead of the brokerage's prior forecast of $1 billion, it said in a client note emailed Tuesday.B. Riley cited ongoing momentum for certain releases in May, such as the Comcast (CMCSA)-owned Universal Pictures' "Obsession" and the A24-distributed "Backrooms," behind the upgrade.The performance is expected to result in a quarterly domestic box office of around $3 billion, representing an annual gain of 10% and the "best (second quarter) post-COVID," B. Riley Managing Director Drew Crum said in the note. This would be a "positive for all names across our universe," especially AMC Entertainment (AMC), Cinemark (CNK) and Marcus (MCS), according to Crum.AMC shares edged down 0.3% in Tuesday trade, while Cinemark and Marcus declined 2% each.Box office collections totaled $155.2 million over the weekend, led by Walt Disney's (DIS) "Toy Story 5" with $70.8 million, according to BoxOfficeMojo, owned by Amazon (AMZN) company IMDb. Momentum for the film was "muted by an equity offering" by AMC, B. Riley said.Last week, AMC closed its registered direct offering of 95.3 million common shares for gross proceeds of around $200 million.Warner Bros.' (WBD) "Supergirl" raked in an estimated $37.1 million, which the brokerage views as "underwhelming" when compared with its reported $170 million production budget. Imax (IMAX) took in nearly $8 billion of the film's domestic box office, or roughly 20%, "representing its highest domestic opening weekend index of any superhero title" in the theater company's history, according to B. Riley.Price: $2.01, Change: $-0.02, Percent Change: -0.99%

$AMC$AMZN$CNK$DIS$IMAX$MCS$WBD
Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says
US Markets

Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says

Domestic box office performance in May was stronger than expected, likely boding well for this month, with AMC Entertainment (AMC), Cinemark (CNK), and Marcus (MCS) seen as beneficiaries, B. Riley Securities said Monday.Preliminary figures for last month show box office collections of $1.06 billion, up 9% year over year and ahead of the brokerage's $890 million forecast."We believe it was ahead of market expectations, providing added confidence in near-term estimates and the summer slate," B. Riley Managing Director Drew Crum said in a note to clients. "A stronger June slate headlined by 'Toy Story 5,' plus an easier comp, suggests further positive momentum is plausible."B. Riley sees AMC, Cinemark and Marcus among the beneficiaries, according to the note.AMC shares were up nearly 14% in Monday afternoon trade, while Cinemark jumped 11%. Marcus rose 3.6%.The latest box office performance reflects carryover from April movies like Amazon (AMZN) MGM-distributed film "Project Hail Mary," and "Michael," as well as a solid sequel debut for "The Devil Wears Prada 2," and a strong opening weekend for A24's YouTube-inspired horror phenomenon "Backrooms," B. Riley said.The brokerage expects May box office performance to be issued this week, including a global total from Imax (IMAX) and separately a figure from Cineplex offering a read on the Canadian market, according to the note.B. Riley projects June domestic box office collections at $1 billion, which would mark a 20% annual gain amid an easier prior-year comparison and other upcoming high-profile titles like Amazon MGM's "Masters of the Universe" and Paramount's (PSKY) "Scary Movie."Box office performance will potentially be offset by the FIFA World Cup 2026, which kicks off June 11, according to the brokerage.Price: $1.96, Change: $+0.23, Percent Change: +13.01%

$AMC$AMZN$CNK$IMAX$MCS$PSKY
Wire

Imax, Georgia Theatre Co. Sign Deal for Five New Imax With Laser Locations in Southeastern US

Imax (IMAX) and Georgia Theatre Co. said Wednesday they have signed an agreement to open five new Imax with Laser locations in the southeastern US.Financial details were not provided.Two locations will open next year and the rest will open in 2028 and 2029, the companies said.The deal expands a partnership that started last year with the opening of Georgia Theatre Co.'s first Imax location in Athens, Georgia, the companies said.Price: $40.70, Change: $+0.09, Percent Change: +0.21%

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IMAX Potential Suitors Include Netflix, Apple, Wedbush Says
US Markets

IMAX Potential Suitors Include Netflix, Apple, Wedbush Says

A potential sale of IMAX (IMAX) could attract a number of likely suitors including private equity firms, Netflix (NFLX) and Apple (AAPL), Wedbush Securities said in a Friday note.The premium theater company is exploring a sale, The Wall Street Journal reported Thursday, citing people familiar with the matter. The sale process, however, is still in the early stages, according to the report.IMAX has held "preliminary talks" through intermediaries, although the company hasn't made any official pitches, CNBC reported Thursday, citing a source.Wedbush said IMAX is an attractive asset, pointing to its strong brand and an expanding earnings profile."At roughly $2 billion in enterprise value, a prospective acquirer would be buying one of the most defensible moats in entertainment for what amounts to a rounding error on the balance sheet of any major studio or technology platform," Wedbush analysts including Alicia Reese wrote.PE ownership would avoid a potential platform conflict as there would be no competing interest, Reese said.The conflict-of-interest problem is "meaningfully smaller" in case Netflix acquires IMAX."Netflix's content calendar remains thin enough that purchasing IMAX would not foreclose rival studio access to the format; the conflict-of-interest problem that would constrain regular studio buyers is meaningfully smaller for Netflix," Reese said. "Owning IMAX would also give every major filmmaker Netflix signs a guaranteed premium theatrical showcase as part of the deal, a powerful recruiting tool in a competitive talent marketplace."On the other hand, Apple TV+ is investing "aggressively" in prestige content and has relationships with filmmakers, who could pitch a guaranteed IMAX showcase during their signing conversations, according to the research note.IMAX's current enterprise value is "a rounding error relative to Apple's balance sheet," Wedbush said.Meanwhile, Sony (SONY) has the best strategic narrative of any studio acquirer."It has no streaming platform, making theatrical its primary monetization window in a way that is structurally different from other major studios," Reese said.IMAX's shares were advancing by 15% ahead of market close on Friday.Price: $39.13, Change: $+5.25, Percent Change: +15.50%

$AAPL$IMAX$NFLX$SONY
Sectors

Sector Update: Consumer Stocks Advance Late Afternoon

Consumer stocks rose late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) adding 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In sector news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.In corporate news, Ross Stores (ROST) shares climbed 8% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal Q1 results.Imax (IMAX) shares jumped past 14% after The Wall Street Journal reported the company is exploring a sale and has approached entertainment companies as potential buyers.Estee Lauder (EL) shares rose nearly 12% after the cosmetics company and Puig said late Thursday they have ended discussions over a potential merger.Uber (UBER) is evaluating options for a complete buyout of Delivery Hero, Bloomberg reported. Uber shares were down 2.4%.

$EL$IMAX$ROST$UBER
Sectors

Sector Update: Consumer Stocks Rise in Afternoon Trading

Consumer stocks advanced Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.9%.In sector news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.In corporate news, Ross Stores (ROST) shares climbed past 6% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal Q1 results.Imax (IMAX) shares jumped 15% after The Wall Street Journal reported the company is exploring a sale and has approached entertainment companies as potential buyers.Estee Lauder (EL) shares rose 9% after the cosmetics company and Puig said late Thursday they have ended discussions over a potential merger.

$EL$IMAX$ROST
Wire

Imax's Potential Acquirers Include Private Equity Firms, Netflix, Apple, Sony, Wedbush Says

Imax (IMAX) is an "attractive" asset, and its most likely acquirers include private equity firms, Netflix (NFLX), Apple (AAPL), and Sony (SONY), Wedbush said in a Friday note.Imax is exploring a sale and has approached entertainment companies as potential buyers, the Wall Street Journal reported Thursday.At around $2 billion in enterprise value, Imax is trading below its standalone value and at a deeper discount as a potential acquisition target, the analysts said. They cited the company's well-known global brand, asset-light licensing model, and structurally expanding earnings profile.Private equity would be interested in Imax's free cash flow generation, minimal capital expenditure requirements relative to revenue, and a clear path to operational optimization. Ownership of Imax would also avoid any platform-conflict issue, the analysts said.Netflix ownership would not hamper rival studio access to the format as its content calendar is thin enough that purchasing Imax would not foreclose rival studio access to the format, according to the note.Netflix and Apple would also benefit from Imax becoming a powerful tool to woo major filmmakers, according to the note.Wedbush's rating on the company's stock is outperform with a price target of $46.Price: $38.77, Change: $+4.89, Percent Change: +14.43%

$AAPL$IMAX$NFLX$SONY
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Imax (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note. Imax shares were up almost 2%.Ryanair (RYAAY) said it has contingency plans for an "armageddon" jet fuel scenario and warned weaker European carriers may not survive if high fuel prices persist, CNBC reported Monday. Its shares rose 5%.Lululemon Athletica (LULU) sent a letter to shareholders on Monday saying that activist and founder Chip Wilson has "outdated perspectives" and "troubling conflicts of interest," which will derail the company's turnaround plan, CNBC reported. Lululemon shares increased 0.9%.Home Depot (HD) and Lowe's (LOW) are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a report. Home Depot shares were up 0.8%, and Lowe's was little changed.

$HD$IMAX$LOW$LULU$RYAAY
Sectors

Sector Update: Consumer

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Imax (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note emailed Monday. Imax shares were up 2%.

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