Disney's 'Up' continues to reach for box-office domination

I can tell you that Land of the Lost, from General Electric's (NYSE: GE) Universal, will not figure into this race at all. That's because the project completely failed at the box office. It couldn't even crack $20 million in early estimates. Maybe it'll do $20 million once final numbers are in, but that's a horrible figure for a summer tentpole production starring Will Ferrell!

The ads made Land look like fun, escapist comedy -- a theoretically perfect summer flick. I guess the market simply wasn't in the mood. It happens. I find it very odd, though, that Hangover actually topped this one. Wouldn't you think that Hangover would be the picture to have problems going beyond $20 million? Makes more sense to me.

I am really taken by Up's second weekend. Its gross only dropped about 35% compared to last weekend's tally. Up could prove to have decent legs.

And this should set the Pixar brand up nicely for the company's re-release of the first two Toy Story movies in theaters in the fall. That in turn should increase awareness for Toy Story 3, set to hit theaters next summer.

The biggest hope of all is that Pixar becomes a driver this year for Disney's ailing studio division, which has suffered from a not-so-great recent slate and slowing DVD sales. If Pixar can make some magic, then shareholders will certainly be pleased. Of course, whether or not that can take the stock to new heights is anybody's guess. Disney hasn't been the greatest investment in the last decade. As a long-term shareholder, I'd like to see that change.

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