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General Electric speeds up the box office

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General Electric (NYSE: GE) shareholders have a little something to celebrate today. Fast & Furious, distributed by GE's Universal asset and starring Vin Diesel, came in first place over the weekend at domestic theaters according to Boxofficemojo.

The racing movie scored about $72 million as of early estimates, more than enough to secure the top spot. I know that such success won't do much for GE in terms of stock movement, but hey, as a GE shareholder myself, it's personally been a tough year with all the financial awfulness at GE Capital, so if one of GE's latest movies is a hit, I'll take it.

Coming in second was DreamWorks Animation's (NYSE: DWA) Monsters Vs. Aliens. The cartoon, which was distributed by Viacom (NYSE: VIA), made around $33 million and has now gone past the important $100 million mark.

Shares of DreamWorks Animation performed well over the last month, but now that the latest celluloid catalyst has come and gone, those who may have bought in before the recent minor run-up may want to consider taking profits. Obviously it's possible that the stock will continue higher, but traders who have found success with this one probably shouldn't overstay their welcome.

In third place was Lions Gate Entertainment's (NYSE: LGF) latest horror exercise, The Haunting in Connecticut. Yes, it's one of those spooky films that's supposed to be based on true events. You've got to love that shtick. The film took in a little under $10 million and has scored roughly $37 million at this point in its release. I continue to watch Lions Gate with an eye toward buying, but have yet to pull the trigger. Something always keeps me from doing it. An investing guardian angel perhaps? I don't know, but I've written before about the drama between Lions Gate and me.

Fast & Furious really scored, way more than I thought it would. I didn't see any of the films in the series, and I have no intention of seeing this one. No interest whatsoever. Apparently a lot of people do have interest in it, though, and if it retains enough of its debut-weekend energy in the coming weeks, it should cross $200 million with no problem. As always, the second weekend will tell.

GE shareholders should hope that this performance bodes well for Universal's upcoming slate. It'll be nice to see the conglomerate's media division strengthen during these recessionary times.

Disclosure: I own GE; positions can change without notice.

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Last updated: November 26, 2009: 01:18 PM

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