Closing Bell: IMAX Boosted by 'Jungle Book' Box Office Win

Dow Jones Industrial Average and S&P 500 close at their best levels of the year.

Author:: Keris Alison Lahiff
Publish date:: Apr 18, 2016 4:33 PM EDT

Disney (DIS) - Get Report spread joy on Wall Street to begin the week, driving the Dow Jones Industrial Average and S&P 500 to close at their best levels of the year. The Dow touched 18,000, the first time it has crossed that threshold since July. IMAX (IMAX) - Get Report benefited from Disney's box office dominance over the weekend. The theater chain generated $20 million showing the new 'Jungle Book' film on just over 900 3-D screens worldwide. NetApp (NTAP) - Get Report fell after Sterne Agee downgraded its stock to UNDERPERFORM from NEUTRAL with a $20 price target. The firm cited a recent survey which forecast lower end-market demand. Verizon (VZ) - Get Report closed slightly higher on reports it is the favorite to win a bid to purchase Yahoo!'s (YHOO) internet business after several other interested parties including Alphabet (GOOGL) - Get Report and Comcast (CMCSA) - Get Report opted out.