Marvel stock on rise

Company gets fantastic boost

NEW YORK — Marvel Enterprises saw its stock jump more than 11% in trading Monday upon the stronger-than-expected weekend bow of 20th Century Fox’s “Fantastic Four,” the latest Hollywood pic based on Marvel’s stable of comicbook superheroes.

Marvel shares were up $2.23 to close at $21.46.

Marvel’s stock was under pressure Friday as dubious analysts forecasted that “Fantastic” would only bring in $30 million-$35 million.

Instead, the summer tentpole took in $56 million, the third-biggest opening of the year after those of “Star Wars: Episode III — Revenge of the Sith” and “War of the Worlds.”

Shares of News Corp., parent company of Fox, were up 11¢ in trading Monday to close at $17.12.

Marvel’s shares were down 3¢ at the close of trading Friday, hurt by the tepid box office predictions and downbeat reviews.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Scene News from Variety