“Star Trek Into Darkness” Beams Disney Up and 2 Other Dow Movers to Watch
The Walt Disney Company (NYSE:DIS): Current price $66.31
Star Trek Into Darkness was the number-one box office hit at American and Canadian theaters, grossing $70.6 million for Paramount Pictures. Falling to the second spot was Iron Man 3 with sales at $35.2 million, following two weeks as number one, according to Hollywood.com Box-Office. The movie from Walt Disney Co.’s Marvel has brought $1.07 billion globally since it debuted on May 3. Chief analyst for the researcher BoxOffice.com Phil Contrino said that while Star Trek saw a “strong opening by normal standards, more was expected. The lesson here is that Hollywood needs to spread out movies more. Right now you have big title after big title opening back to back, and when that happens, some of the movies will naturally be hurt.”
Wal-Mart Stores (NYSE:WMT): Current price $77.61
The chain owned by Starbucks Corporation (NASDAQ:SBUX), Seattle’s Best Coffee, will open 10 new locations on Monday, primarily in Wal-Mart Stores parking lots, marking the biggest one-day opening event for the coffee giant, ever. Vice President and General Manager of Seattle’s Best Frank Sica said in an interview that eight of the ten stores in the Dallas area will be in Wal-Mart lots, and that there is no indoor seating at the 523 square-feet shops. Customers can order from their vehicles at the drive-thru or via a walk-up window. Sica commented further that “Our customers are definitely on-the-go — they’re value conscious, and they’re in need of a better cup of coffee. We were very strategic in terms of where we placed our locations.”
United Technologies Corp. (NYSE:UTX): Current price $97.47
The corporation announced that it has finalized the sale of its Pratt & Whitney Power Systems division to Mitsubishi Heavy Industries. Financial os the transaction were not disclosed. Selling off Power Systems permits UTC to concentrate upon its core aerospace and commercial unit. Pratt & Whitney has entered into a long-term agreement with MHI pursuant to which the former will supply certain engineering and manufacturing services to MHI in connection with the development of the FT4000, which marks Power Systems’ next-generation industrial gas turbine. Through the long term agreement, P&W will provide GG8 turbines to MHI.
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