Will 'Up' Lift Disney?

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

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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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