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Disney's new film ‘Up’ is expected to take the box office by storm this week-end, but will it be bouyant enough to lift Disney shares [DIS
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"I'm very bullish," says Chuck Viane, president of Disney's domestic theatrical distribution. "The reviews have been nothing but spectacular, and it could be our time."
In fact, ‘Up’ which stars the voice of Ed Asner has attracted almost nothing but praise.
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The story of an old man traveling the globe in a balloon-hoisted house with an 8-year-old stowaway has received 97% positive reviews according to the website RottenTomatoes.com. Even the oft-tough crowd of Cannes cineastes responded enthusiastically when the film opened the festival this month.
Disney is placing big bets that a whole lot of people will want to see the film this week-end.
"Up" will play in 3,766 theaters, with at least 1,530 3-D auditoriums set for its first weekend. That's the biggest number of extra-dimensional screens for any release as the industry scrambles to roll out 3-D systems amid burgeoning public interest in such films.
And if history is any indication, the film could pull down big bucks.
The most recent Disney/Pixar release, "WALL-E," opened with $63 million in June and grossed $224 million domestically. That’s probably a good target for "Up," though studio executives said they would be happy with an opening anywhere north of $50 million.
What’s the trade?
Disney has performed extremely well since it’s earnings release, reminds Joe Terranova. If ‘Up’ pulls in $50 million or move over the week-end, I’d be a buyer.
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Trader disclosure: On May 29th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (AMZN), (CSCO), (RIMM), (V), (KLF); Stuart Frankel Clients Own (SUN), (YHOO), (AAPL), (AMD) ,(BAC) ,(BHI) ,(BP), (C), (COP) ,(CVX) ,(F) ,(GS) ,(HAL) ,(PFE) ,(SLB) ,(SUN) ,(USO) ,(VLO) ,(WFC) ,(USB) ,(PBR), (JPM), (LMT), (GD), (AET), (GM); Finerman's Firm Owns (MRO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Najarian Owns (PFE); Najarian Owns (BP) Call Spread; Najarian Owns (CLF) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (HIG) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; Finerman's Firm Owns (IBB), (XBI), (CSCO), Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (BWA) Puts
Terranova Owns (XBI), (ABT), (RIMM), (HES), (TER), (BTU), (MS), (JPM), (MS), (HES); Terranova Is Short (XOM) Call Spreads; Terranova Owns (DIS) Call Spreads: Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD),(ARE),(CAL),(DLR),(EPR),(EXR),(IGE),(MEE),(DBC),(DBV),(DBA),(SKT),(UA),(CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes