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This event has sparked some of the biggest media deals, from Google's acquisition of YouTube to the Disney-CapCities merger in 1996. This year there's no avoiding the fact that the economy is in a downturn and the credit markets are tight, but it's not keeping the big names from rolling in.
According to BoxOfficeMojo, here are the ten highest grossing Fourth of July weekend (3-day) movie openings of all-time as of 2007.
Lehman Brothers analyst Anthony DiClemente returned from July 4 weekend with a negative outlook on the media giants, downgrading the entire sector to negative. DiClemente is concerned that digital distribution changes will "disrupt the core economic models of the majority of film and TV content."
Looks like the Disney story might not have a happy ending after all, at least according to Lehman analyst Anthony DiClemente.
Stocks whipped back to positive territory on a seesaw day for Wall Street, which was dominated by a large dumping of financial shares and a drop in oil that staggered large energy producers.
Stocks moved out of bear territory Monday as oil retreated more than $4 a barrel, easing inflation fears, and technology got a boost from two of its largest companies.
Commodities are a bit weaker here as the dollar is stronger, stock futures are flat. Europe and Asia are mostly higher, the Shanghai Composite, however, is up 4.6 percent today, best day in a month on strong earnings forecast from a couple of their banks.
Hollywood is looking at another intense third act; the tough guys are pulling out the big guns. The Screen Actors Guild is the last of the entertainment industry's guilds to renegotiate its contract, and let's just say, it's not looking like a fairytale ending.
China's main stock index sank more than 3 percent to a fresh 16-month closing low on Tuesday, led by financial and property shares, on worries about rising interest rates and heavy supplies of shares from IPOs.
It was an ugly first half for the stock market and now that the goal posts have been moved for the economic recovery, expect a rough game in the second half.
Animation giant Pixar scored its ninth consecutive No. 1 Sunday with its robot love story "WALL-E," while Angelina Jolie achieved a personal best with her violent assassination thriller "Wanted." "WALL-E," bolstered by near-unanimous critical praise, sold an estimated $62.5 million of tickets in its first three days, said Pixar's Walt Disney Co parent..
By anyone's reckoning, it was a rough week. Crude oil continued its relentless climb; banks and brokerages gave hints of more discouraging news; government data pointed to a weak economy; even strong companies like Nike, Oracle, and Research In Motion issued cautious guidance; and Federal Reserve policymakers, widely perceived as powerless to help, left interest rates unchanged. But all week, even through the worst of the market's sell-offs, CNBC guests offered
I check my BlackBerry right before I fall asleep, immediately upon waking, and even in the middle of the night if I happen to wake up, so needless to say, I was amused to stumble upon this story.
Media stocks have tanked. A chart of the media conglomerates performance over the past 12 months is flat-out ugly. They're all in the red, and all but Disney have underperformed the Dow, and it's still down about five percent over the past 12 months.
There are a lot of downdrafts in the media-business atmosphere right now, but Tuna Amobi of Standard and Poor's has "strong-buy" ratings on a couple of high-profile companies.
Research in Motion will release earnings on Wednesday, and there's a fair amount of optimism swirling around these shares, even in the face of ever increasing competition and headlines from Apple and the iPhone.
Newspapers are breaking records -- and it's not a good thing. A double-digit drop in newspaper ad revenue, the third consecutive year of declines, and record margin contraction makes this the industry's worst year ever. The newspaper industry's ad revenue is down 12 percent this year, on top of last year's already dismal 8 percent drop.
The gap between Bollywood and Hollywood is becoming increasingly narrow. Earlier this week I blogged about how Steven Spielberg is in talks with Indian Media Giant Reliance ADA group to finance an independent studio.
Almost everywhere they looked during the week, investors saw red ink flowing. But CNBC guests worked hard to find bright spots in the murk.
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.