I honestly thought Time Warner's (NYSE: TWX) Speed Racer would take the top spot over the Mother's Day weekend at the domestic box-office marketplace. Thankfully, I was wrong, since I own shares in Marvel Entertainment (NYSE: MVL).
Instead, Marvel's blockbuster Iron Man, which is distributed by Viacom (NYSE: VIA), grabbed the honors. According to estimates at Boxofficemojo.com, Iron Man grossed more than $50 million while Speed Racer drove away with about $20 million, good for second place. Yes, these are estimates, but I'll tell you what, my friends any changes to them later on won't alter the tale of Marvel beating the bigger studio. News Corp.'s (NYSE: NWS) new film, What Happens in Vegas, took in a similar amount to Racer and is currently pegged in third place. While first place is a lock, it's possible that second and third positions will be changed. Sony's (NYSE: SNE) Made of Honor and General Electric's (NYSE: GE) NBC Universal comedy Baby Mama were fourth and fifth, respectively.
This was Iron Man's second weekend, and I couldn't be more pleased by its performance. Hopefully, the picture is on its way to grossing at least $250 million domestically; subsequent weekends will get tougher for Marvel as more summer flicks open and gobble up screens and mindshare. For now, though, the company is a superhero. I just hope that the new Hulk, which will be opening soon, is a lot better than the one put out a few years back. For coverage on Marvel's latest earnings report, check out Sheldon Liber's recent piece.
Disclosure: I own shares in General Electric and Marvel; positions can change at any time.
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