According to Boxofficemojo, Tyler Perry's Madea Goes to Jail came out on top over the weekend at domestic theaters. As of early estimates, the film brought in over $40 million, proving that Tyler Perry's name can still sell tickets. This is great news for Lions Gate Entertainment (NYSE: LGF), which was looking to score a big hit after experiencing some weak performances at the box office.
Tyler Perry beat out News Corp.'s (NYSE: NWS) successful thriller Taken, which landed in the second spot. Coming in third was Coraline from General Electric Company's (NYSE: GE) Focus Features, although those two films could change positions once final numbers are in. Both of them scored around the $11 million mark. Time Warner Inc's (NYSE: TWX) He's Just Not That Into You was fourth and News Corp.'s Slumdog Millionaire, the toast of the Oscars telecast last night, was fifth. Both of those features scored similar amounts, about $8 million each, so we'll see what happens with their respective rankings. Poor Jason Voorhees. Last week, his movie, Friday the 13th, killed at the box office. This week, the slasher dropped 80% in terms of gross and landed in sixth place after debuting in the top slot. Talk about a bloody decline for Time Warner. Horror movies do tend to go down fast after the opening weekend, but I thought this particular feature might exhibit more strength.
You know, seeing Tyler Perry score this weekend once again has made me think about Lions Gate's stock. No, you can't say the stock is a definite buy considering how the latest earnings report turned out, but at the same time, it's dropped so low that I have to wonder if there might be a short-term trade here. Even Carl Icahn can't resist. He added to his position back in October, and reports are that he still loves the company's business model. Lions Gate is very, very risky. Yet, it seems to be stabilizing, and is in fact up 7% as I write this. On the next pullback, I may take a serious look at the stock for trading purposes.
Disclosure: I own GE; positions can change without notice.
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
Reader Comments (Page 1 of 1)
2-24-2009 @ 1:42AM
howshouse.com said...
wow! amazing... i am surprised tyler perry's pipped taken. of the four movies mentioned above, to me, tyler perry's was the least entertaining and had little depth.
howshouse.com
2-24-2009 @ 11:08PM
gerlinsek said...
Tyler Perry's Madea Goes to Jail (2009) it Is a movie filled with laughter if you have problems with anger you better see this movie because by this comedy movie Tyler Perry's Madea Goes to Jail (2009) http://www.80millionmoviesfree.com tyler is trying some thing different as a stage play to give a good massage to society I think it was a better effort from him
4-03-2009 @ 3:05PM
toocuteisN8and9A said...
im a kid but i can honestly say this, i loved all of tyler's perry's movie's and plays and the actor's he choose his movie's are sad,happy,funny, and obvious it's amazing that he could put all of these emotions into a it only takes one pen one piece of paper and one brillient mind when i saw my first movie from tyler perry some times i think that tyler's movie that maybe i would be able to find my self yes im at that age that im trying to find myself sometimes i fill like i did sometimes i fill like i dont but im ok ^^ i 'll just .....continue to watch his movie's ;)