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Shares in Americas publicly traded movie theater chains surged yesterday, the first day of trading after the Memorial Day holiday. Its a holiday weekend that saw moviegoers flock to theaters in droves, snapping up tickets and leading to the best Memorial Day weekend box office in history. Heres what you need to know about the Memorial Day box office and its impact on shares in movie theater companies. Memorial Day box office was the best on record Movies generated a record $326 million at the Memorial Day box office this weekend, a period that ran from Friday, May 23, to Monday, May 26. That four-day haul record was largely fueled by two films. The first was the live-action remake of Disneys Lilo & Stitch, which took in a staggering $192.7 million domestically during the four-day period, according to The Hollywood Reporter. Thats a historic recordthe most any film has ever made over the Memorial Day period. Coming in second place was Tom Cruises latest installment of the Mission: Impossible franchise. Paramounts Mission: Impossible The Final Reckoning took in $79 million domestically over the four-day period, a record for the franchise. In total, Lilo & Stitch made $361.3 million globally during the four-day period, and Mission: Impossible The Final Reckoning took in $191 million globally. But while executives at Disney and Paramount are no doubt lauding the record box office haul for the holiday weekend, executives at Americas publicly traded movie theater chains are also celebratingand so are investors. AMC, Cinemark, and Marcus shares surge Thanks to the record-breaking box office haul over the Memorial Day weekend, shares in movie theater chains in the United States surged on Tuesday, the first trading day after the holiday. Iconic meme stock AMC Entertainment Holdings, Inc. (NYSE: AMC), as well as Cinemark Holdings, Inc. (NYSE: CNK), and The Marcus Corporation (NYSE: MCS) all saw their shares jump yesterday. AMC: up over 23% to $4.01 CNK: up over 3.8% to $33.69 MCS: up over 10% to $18.71 Given how theater attendance has struggled since the pandemic, its little wonder that the stellar Memorial Day weekend period at the box office is giving investors cause for celebration. Many in the industry have worried in recent years that the pandemic triggered a shift in audience habits away from movie theaters and toward their large televisions at home, particularly as streaming has become the de facto king of entertainment. Yet, the weekend box office suggests that if you give audiences movies that resonate with them, they will show up with their wallets at the theater instead of waiting to watch the films at home. This record-setting Memorial Day weekend underscores the long-standing truth that when exceptional films meet unmatched theatrical experiences, audiences respond in a big way, AMC Adam Aron said in a press release. The release also noted that AMC didn’t just see a record-breaking box office. The chain said it also generated record food and beverage revenue this weekend. Concessions, such as popcorn and soda, are a major driver of profits at theaters. Cinemark CEO Sean Gamble also reported records at the chain, noting in a press release, “Cinemark delivered a remarkable over-performance, breaking numerous records across box office and concession revenues. And Greg Marcus, CEO of Marcus Corporation, said the company has high hopes for the rest of 2025, too. “Once again, huge audiences came out for the experience of enjoying these films on the big screen in theatres, Marcus noted. We expect the momentum to continue throughout the summer with an exciting slate of films ahead. That slate of films includes the highly anticipated Superman reboot from Warner Bros; the latest Marvel movie, The Fantastic Four: First Steps, from Disney; and Universals newest installment of the Jurassic Park franchise, Jurassic World Rebirth.
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E-Commerce
Chris Rogers, Instacart’s current chief business officer, is taking over as the delivery giant’s next CEO, the company announced on Wednesday. Rogers, who has worked at Instacart since 2019, will take the helm from Fidji Simo on August 15. Simo, who ushered the company through a successful market debut (stock prices are up 53% since its 2023 IPO) after taking the top spot in 2021, will become CEO of applications at OpenAI. “We chose Chris because the company needs a leader who understands all our partners deeply, has immense operational experience, and can mobilize teams around our vision,” Simo wrote in a note to employees. “Chris knows this company. He helped shape it. And I know Chris will carry our mission forward with conviction, care, and ambition.” Simo previously told employees the top role would be filled by a member of Instacart’s management team. In his current role, Instacart said Rogers “oversees all aspects of the companys commercial operationsincluding retailer relationships and expansions, ad sales and R&D, partnerships, mergers and acquisitions, Instacart Business, and Instacart Healthwith a focus on driving growth at the intersection of brands, retailers, and technology.” Prior to joining Instacart, Rogers spent nearly 11 years at Apple as the managing director for Apple Canada. He also led Apples carrier channel business and the consumer retail business in Canada. Rogers will be tasked with continuing to grow orders despite ongoing macroeconomic concerns. The company reported first quarter financial results earlier this month, posting strong order growth and total revenue. However, its burgeoning advertising segment where food companies pay for placement in the app could see problems as new tariffs and regulations impact the ad spend. Rogers said in a blog post that the company’s strategy and vision wouldn’t change. “Our opportunity is massive, and Im excited to lead this team as we build on our momentum and take Instacart forward,” Rogers said.
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E-Commerce
After back-to-back explosions, SpaceX launched its mega rocket Starship again on Tuesday evening, but fell short of the main objectives when the spacecraft tumbled out of control and broke apart.The 403-foot (123-meter) rocket blasted off on its ninth demo from Starbase, SpaceX’s launch site at the southern tip of Texas. Residents voted this month to organize as an official city.CEO Elon Musk’s SpaceX hoped to release a series of mock satellites following liftoff, but that got nixed because the door failed to open all the way. Then the spacecraft began spinning as it skimmed space toward an uncontrolled landing in the Indian Ocean.SpaceX later confirmed that the spacecraft experienced “a rapid unscheduled disassembly,” or burst apart. “Teams will continue to review data and work toward our next flight test,” the company said in an online statement.Musk noted in a post on X it was a “big improvement” from the two previous demos, which ended in flaming debris over the Atlantic. Despite the latest setback, he promised a faster launch pace moving forward, with a Starship soaring every three to four weeks for the next three flights.It was the first time one of Musk’s Starships intended for moon and Mars travel flew with a recycled booster. There were no plans to catch the booster with giant chopsticks back at the launch pad, with the company instead pushing it to its limits. Contact with the booster was lost at one point, and it slammed into the Gulf of Mexico in pieces as the spacecraft continued toward the Indian Ocean.Then the spacecraft went out of control, apparently due to fuel leaks.“Not looking great with a lot of our on-orbit objectives for today,” said SpaceX flight commentator Dan Huot. The company had been looking to test the spacecraft’s heat shield during a controlled reentry.Communication ceased before the spacecraft came down, and SpaceX ended its webcast soon afterward.The previous two Starships never made it past the Caribbean. The demos earlier this year ended just minutes after liftoff, raining wreckage into the ocean. No injuries or serious damage were reported, although airline travel was disrupted. The Federal Aviation Administration last week cleared Starship for another flight, expanding the hazard area and pushing the liftoff outside peak air travel times.Besides taking corrective action and making upgrades, SpaceX modified the latest spacecraft’s thermal tiles and installed special catch fittings. This one was meant to sink in the Indian Ocean, but the company wanted to test the add-ons for capturing future versions back at the pad, just like the boosters.NASA needs SpaceX to make major strides over the next year with Starship the biggest and most powerful rocket ever built in order to land astronauts back on the moon. Next year’s moonshot with four astronauts will fly around the moon, but will not land. That will happen in 2027 at the earliest and require a Starship to get two astronauts from lunar orbit to the surface and back off again. The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group and the Robert Wood Johnson Foundation. The AP is solely responsible for all content. Marcia Dunn, AP Aerospace Writer
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E-Commerce
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