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Imax Corp. Chief Executive Richard Gelfond — who provides cinemas with some of the biggest screens out there — hasn’t been to the movies since the COVID-19 pandemic shuttered the film business nearly a year ago. But now that he’s vaccinated, the New York-based executive is planning his return as theaters there reopen.
“I’m starting to dream of re-experiencing movies very quickly,” he said by phone last week while on vacation in Puerto Rico.
New York City movie theaters can open Friday, with California counties expected to begin loosening their restrictions during the coming weeks as vaccination efforts pay dividends.
Though only 25% capacity is allowed at first, the development has increased confidence that cinemas will be more broadly open by or near the planned release dates of Walt Disney Studios’ ”Black Widow” (May 7) and Universal Pictures’ “F9" (May 28).
USA cine just hit £1.07, sign of things to come tomorrow let's hope!!! Volume is awful so def not a given
Speaking of which shorts reduced further today...
Upwards pressure is clear! Fantastic week all LTH's. With positive news due between now and Monday let's hope for more of the same next week! Off to enjoy the sun! Have a great weekend all!
Cinemark flying 7%+ upon opening, come on cine back to £1+
Cinemark Holdings Inc. CNK, -5.47% posted a wider-than-expected loss for the fourth quarter, as many of its theaters operated at limited capacity during the coronavirus pandemic, but revenue beat consensus estimates. The Plano, Texas-based cinema chain posted a loss of $239.3 million, or $2.03 a share, in the quarter, after earnings of $26.3 million, or 22 cents a share, in the year-earlier period. Revenue fell to $98.2 million from $788.8 million. The FactSet consensus was for a loss per share of $1.46 and revenue of $79.8 million. "It is almost unfathomable that one year ago, we were reporting Cinemark's fifth consecutive year of record results with the North American industry touting the second-highest grossing box office of all-time," Chief Executive Mark Zoradi said in a statement. The company's financial results continue to be "significantly impacted" by COVID, which led to its theaters being closed for an extended period starting last March. The company reopened domestic cinemas in June and international ones in August, after enhanced cleaning. As of Dec. 31, it had 217 domestic and 129 international theaters open at limited hours. Zoradi said the company is confident business will return once the virus is contained and noted the strong performance of Chinese cinemas during the recent Lunar holiday. Shares were up 1.5% premarket, but have fallen 11% in the last 12 months, while the S&P 500 SPX, -2.45% has gained 23%.
Bodes well for cine results day considering their reported loss and the sp ticking upwards this morning
GME up 500% from open. Here we go again
Could the social media hype spike us over £1 tomorrow morning over FOMO! Will be interesting to watch.
AMC taking off.....
One shot has been proved to be effective and safe, expected to be approved over the weekend!
No hospitalizations from anyone after 4 weeks from receiving vaccine during trials
The COVID-19 restrictions in England could be lifted sooner than June 21 if real-world data on the effect of vaccines is better than expected, The Telegraph reported on Tuesday, citing government sources.
If the positive results from an early Public Health Scotland study on vaccines is replicated in England, "that would change the calculations" on the timings, the newspaper said citing a senior government source.
Reported shorts also slightly reduced by 0.1%
Prime Minister Boris Johnson is "very optimistic" that he will be able to remove all coronavirus restrictions in England by 21 June under his four-stage plan for lifting lockdown.
We are trading on wider market sentiment! Look at graphs for any airline, leisure or hospitality stock. We are identical. £1 will come closer to opening
No chance this tool had 44000 shares if he expects an rns with no confirmed open date. Absolute fool! Name 1 other hospitality or leisure business who released an rns today? Idiot!
Was found by ShareFlyer! Usa movie stocks have responded extremely well
Wondered what the huge spike was in AMC and Cinemark!!! 90p+ tomorrow!