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April 29, 2019, 7:50 a.m. EDT

Disney's stock surges toward record high after 'Avengers' breaks box office records

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By Tomi Kilgore

Shares of Walt Disney Co. /zigman2/quotes/203410047/composite DIS -4.29% rallied 1.6% toward a record high in premarket trade Monday, after the media giant's "Avengers: Endgame" movie broke opening-weekend box office records by raking in $1.2 billion globally. Disney's stock is on track for a fifth-straight gain in anticipation of a strong showing by "Avengers," and has soared 20% since the company announced Disney Plus, a new streaming service, for $6.99 a month. "Not only did Endgame set a new all-time high for the biggest opening ever for a film,...it also broke the record for the largest grossing box office weekend all by itself (surpassing the prior high of $306 million set December 18-20 with the $248 million opening of "Star Wars: The Force Awakens)," analyst Eric Handler at MKM Partners wrote in a note to clients. "Star Wars" is also a Disney franchise. Disney's stock has soared 27.6% year to date through Friday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -3.56% has climbed 13.8%.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 133.01
-5.96 -4.29%
Volume: 19.34M
Feb. 24, 2020 6:30p
P/E Ratio
21.26
Dividend Yield
1.32%
Market Cap
$250.90 billion
Rev. per Employee
$295,532
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,960.80
-1,032 -3.56%
Volume: 458.71M
Feb. 24, 2020 5:04p
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