Imax Looks to Cast a Spell
Imax (IMAX Quote) is hoping Harry Potter can work his magic on the movie company's stock.
Harry Potter and the Goblet of Fire hit theaters last weekend with a bang. The movie, made by Time Warner's (TWX Quote) Warner Bros. studio, delivered strong gains for Imax at a good time, right in the middle of a big fourth quarter for the company.
Imax, which is based in New York and Toronto and makes money mostly from theater licensing, has suffered a couple of tough quarters after missing earnings estimates. Its stock is off 12% in three months. But with the opening numbers for Harry Potter and the Goblet of Fire beating the last Imax-converted endeavor, Charlie and the Chocolate Factory, by 33% on roughly the same number of screens, Imax's Richard Gelfond is optimistic. ...
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