Please select the second broker

Author: Alan LittleDate: 2021-12-20

AMC Entertainment (AMC) +19% after Spider-Man’s record US box office opening

AMC Entertainment (AMC) shares soared 19% on Friday after new Marvel movies Spiderman: No Way Home delivered a remarkable $253m in gross earnings in the US.

AMC Entertainment (AMC) shares jumped 19% on Friday following reports that Marvel’s new movie ‘Spider-Man: No Way Home’ opened to a record audience with $253m earned over the weekend in North America.

New movies have traditionally struggled to gain traction at cinemas during the pandemic, but the latest Spiderman entry bucked that trend as it delivered the third-biggest domestic opening ever, while grossing more than $587m globally.

That’s great news for AMC, a movie theatre chain headquartered in Kansas, as it suggests consumers are still open to returning to cinemas en masse for hotly anticipated movie releases.

Spider-Man: No Way Home almost tripled the biggest US launch in the Covid-19 era, which was previously $90m.

The $253m figure is also more than any movie has earned in its entire run during the last 18 months.

After news of the $50m earned on Thursday night was reported, investors bought into AMC on Friday in New York and shares eventually rose 18.77% to $29.04.

Several other companies made gains during the final session of the week including FedEx (FDX) and Cerner (CERN).

FedEx posted $23.5bn revenue and $4.55 adjusted earnings per share for the three months to 30th November, which was enough to beat the $22.41bn and $4.28 Wall Street consensus.

CFO Michael C. Lenz said the package delivery giant’s strong performance was driven by its impressive revenue growth and success in navigating cost and labour-based challenges.

FDX traded higher throughout the session on Friday and by close, had advanced 5.1% to $250.65.

Meanwhile, Cerner climbed 12.93% to $89.77 on a Wall Street Journal report that said Oracle (ORCL) could acquire the health IT services company in a $30bn deal.

Scam Brokers, Broker Complaints

Are you aware of a scam broker or want to make a broker complaint?

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.