Updated from 2:11 p.m. EST with new stock prices
Shares of Marvel Entertainment(MVL Quote) were among the NYSE's winners Monday, soaring 16.2% after the entertainment company blew past Wall Street's third-quarter profit targets.
Marvel posted third-quarter earnings of $36.3 million, or 45 cents a share, on sales of $123.6 million. Analysts polled by Thomson Financial expected a profit of 28 cents a share and sales of $90.5 million. The company attributed the performance to strength in its licensing business, particularly for Spider-Man 3 merchandise.
For the full year, Marvel now sees earnings of $1.60 to $1.65 a share, above its prior view of $1.30 to $1.55. The company lifted its sales forecast for the year to $455 million to $475 million from a prior range of $375 million to $435 million. Wall Street projects full-year earnings of $1.44 a share and sales of $431 million. Shares of Marvel were jumping $3.77 to $27.08. ...
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