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Box Office Paydays for Thanksgiving Weekend

Zacks

Tuesday, November 22, 2016

Market and economic information almost feels like it’s in clean-up mode right now, with Existing Home Sales for October due out after the market opens, and HP HPQ, HP Enterprise HPE, GameStop GME and Urban Outfitters URBN all reporting after the closing bell today.

Ahead of Tuesday’s market open, we see Hormel HRL +6% on strong quarterly earnings results, whereas Jack In The Box JACK disappointed analyst estimates and finds itself -3% in the pre-market; its earnings beat was eclipsed by comps lower than forecasted.

Keeping with the calendar Q3 earnings sweep-up, Dollar Tree DLTR beat analyst estimates and finds itself +8% ahead of the opening bell. Campbell Soup CPB is up 5% on its earnings beat this morning, and shoe discount retailer DSW DSW is +4% even though the company missed on revenues; it expects holiday season to be stronger than in past years.

So aside from cleaning up ahead of Thanksgiving this Thursday — markets will be closed that day and will close early on Friday, at 1pm ET — getting together with family and friends to, say, go to the movies is a popular thing to do. As such, we view new releases by Disney DIS and Paramount VIA as being of interest this weekend.

Disney’s Frozen is one of the top-grossing movies of all time, and the most successful Thanksgiving release ever. The company hopes to repeat this feat with its animated Pacific island adventure film Moana. Renowned actor (and current tabloid favorite) Brad Pitt stars with Academy Award winner Marion Cotillard in Paramount’s Allied. This past weekend, Fantastic Beasts was box-office gold from Warner Brothers Pictures TWX.

Mark Vickery
Senior Editor

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