Ah, an upgrade of an old favorite of mine. Marvel Entertainment (NYSE: MVL). I've owned this one in the past. Never lost money on it. I'd like to be back in Marvel. Only one problem.

Yesterday, Marvel, a company whose comic library competes with Time Warner (NYSE: TWX) and its own stable of superheroes, received an upgrade from JPMorgan. It now is in the Overweight camp. Before, it was merely Neutral. As you might expect, the stock reacted. There was no way the market was going to ignore this because, really, Marvel is one of those stocks that does show a lot of promise considering that the sequel to Iron Man is due out next summer. Shares closed over 5% higher on Wednesday in reaction to the headline. The professional traders must loved the action.

Well, Viacom's (NYSE: VIA) Transformers: Revenge of the Fallen took command of the domestic box-office weekend. No surprise after observing what the film did last Wednesday when it opened. According to Boxofficemojo, Fallen, as of early estimates, grossed $112 million during the three-day period starting Friday. The film has taken in over $200 million so far once the days leading up to the weekend are added in. Excellent business. Especially considering that the sequel is doing better than its predecessor at this point, according to a comparison chart (this chart includes a comparison with Iron Man as well, so just focus on the Transformers franchise).

Growth. You've got to love it. I'm sure Viacom does. Disney (NYSE: DIS) isn't doing badly, either. Although not a huge hit, The Proposal did respectable business. It came in second with $18 million. It should eventually reach $100 million.

So, earlier in the week, I discussed Michael Bay and his freak-out with Viacom, Inc. (NYSE: VIA) over the marketing quality on his latest film, Transformers: Revenge of the Fallen. Turns out Mike had nothing to worry about.

This film is doing great. At the time of this writing, the film was estimated to have grossed over $60 million on its opening day, which was this past Wednesday. Now, I hate talking about the breaking of this record and that record. Hollywood loves to point out that Movie X achieved the highest gross for a film released on a cloudy day in late September when the moon was full and a new supernova was spotted in the constellation of Cygnus. I'd rather talk about how much profit was achieved, and how much return on capital was recorded (too bad media companies don't have to reveal such data). Nevertheless, I'll give Viacom and Fallen credit. It apparently scored the biggest Wednesday opening ever, and it should theoretically have a great weekend, assuming word of mouth is good. So far, I've only heard superlative things about this particular piece of celluloid, and I know of one person who immediately consulted her cell phone to schedule a time to see the picture with her friends when she heard how awesome it was.

Now, here is an interesting little spat. Michael Bay, according to The Hollywood Reporter, is upset with Viacom (NYSE: VIA). Why? Well, there's a movie coming out this week called Transformers: Revenge of the Fallen. It's the sequel to the big summer hit from a couple years back that brought the Transformers brand into the multiplex culture. Bay directed both projects. And he apparently has taken a tantrum, a little baby-like tantrum, over the marketing of the new film.

The Reporter article, which talks about the TMZ.com post that brought an email Bay wrote in May to the world's attention, says that Bay believes the quality of the marketing support so far on the second Transformers is way below par. He feels no buzz equity surrounding the movie. He doesn't think that an appropriate zeitgeist of support has been synthetically manufactured by the powers that be at Paramount. And he wonders if it might have to do with money: "I cannot figure if this is a cash issue with your company?" Further, he proffers: "Right now we are not an event. We are just a sequel, which is different."

Looks like Disney's (NYSE: DIS) The Proposal, starring Sandra Bullock, was sober enough to beat Time Warner's (NYSE: TWX) The Hangover.

According to early estimates at Boxofficemojo, the movie grossed $34 million at domestic theaters, making it the top film of the past three days. Proposal was expected to earn $26 million during its first weekend out in the marketplace.

Lions Gate Entertainment (NYSE: LGF) is a stock I've been looking at for a long time. It often looked like a great trade. It actually was recently. On Monday, the stock closed at $6.26. That represented a great short-term rise.

I wish I had gone with my instincts and bought shares when they were below the $5 mark. But something always kept me from doing it. I was worried about the fundamental risk involved.

Disney (NYSE: DIS) soared to the number-one spot this past weekend with its new Pixar project, Up. The computer cartoon grossed roughly $68 million at domestic theaters as of early estimates, according to Boxofficemojo.

Disney took a lot of thunder away from News Corp. (NYSE: NWS) and its Ben Stiller comedy/fantasy Night at the Museum: Battle of the Smithsonian. That movie dropped to second place, taking in about $25 million.

It was a busy weekend at the box office. The Memorial Day holiday period is a time when studios try to set a good financial tone for their summer slates.

And it looks like News Corp. (NASDAQ: NWS) is the winner. The media company's Night at the Museum: Battle of the Smithsonian project, starring Ben Stiller, grossed an estimated $53 million at domestic multiplexes over the past three days according to Boxofficemojo. That was a good performance. The first Night at the Museum took in $30 million in its first three days of release back in Christmas 2006.

I was surprised that News Corp. came out on top. Did anyone out there think that Terminator Salvation, from Time Warner (NYSE: TWX), wouldn't be number one?

Last week's number-one picture, Star Trek, had to yield to a newcomer this week. Angels & Demons, distributed by Sony (NYSE: SNE), took the top spot this past weekend at domestic theaters, according to Boxofficemojo. The movie is credited with $48 million as of early estimates.

Trek, distributed by Viacom (NYSE: VIA), came in second with $43 million. And I have to say, although I wasn't impressed with the movie's box-office debut, I thought that the second weekend was relatively strong. I expected a better than 50% drop for its sophomore frame. As of current data, Trek only shed roughly 40% of its opening gross. Good job (I still think the opening was weak, though). The film is close to the $150 million mark.

Viacom (NYSE: VIA) came out on top this past weekend with its new Star Trek film. According to early estimates from Boxofficemojo, the picture made roughly $72 million over the three-day period at domestic theaters.

If you include some early screenings, the total is closer to $76 million. Trek beat out such projects as Marvel's (NYSE: MVL) and News Corp.'s (NASDAQ: NWS) X-Men Origins: Wolverine, which came in second place, and Time Warner's (NYSE: TWX) Ghosts of Girlfriends Past, which took spot number three.

Marvel Entertainment (NYSE: MVL), whose colleagues include Sony (NYSE: SNE), News Corp. (NASDAQ: NWS), and Viacom (NYSE: VIA), issued its first-quarter report on Tuesday.

The market liked what it saw. That's because the comic-book concern beat analyst estimates by a pretty significant margin. Hey, what else would you expect from the company that brought you Iron Man?

Marvel delivered 57 cents per share in income. According to analysts, Wall Street was hoping for 37 cents per share. Quite a surprise.

It was a great weekend for comic book fans. First, Saturday was Free Comic Book Day. I hope you were able to celebrate (I did!). Second, Marvel's (NYSE: MVL) X-Men Origins: Wolverine, licensed to and distributed by News Corp. (NASDAQ: NWS), opened on Friday.

As expected, it completely annihilated the competition (I would have said clawed the competition, but I'm sure that pun has already been done to death by now) at the domestic box office over the weekend.

DreamWorks Animation (NYSE: DWA), whose cartoons compete with similar products from Disney (NYSE: DIS), News Corp. (NASDAQ: NWS), Viacom (NYSE: VIA), Time Warner (NYSE: TWX), and Sony (NYSE: SNE), issued its Q1 stats after the bell on Tuesday afternoon.

Now, I'm just about 100% certain that I've used this goofy pun before, so let me apologize upfront for dragging it out yet again (you'll soon see that I had no choice): DreamWorks Animation had a quarter that dreams are made of!

Disney (NYSE: DIS) did its best to act like a good corporate citizen when it released a "green" film on Earth Day. The title? Appropriately, it's Earth. I didn't see the movie, I'm sure it was decent enough.

Over the three-day weekend, Boxofficemojo says that Earth grossed $8.5 million as of early estimates. If you include the Wednesday and Thursday showings, Earth has so far banked about $14 million for itself.

In terms of ranking, though, that $8.5 million statistic places the project in fifth place, behind such multiplex entries as Sony's (NYSE: SNE) thriller Obsessed, starring Beyonce, Time Warner's (NYSE: TWX) 17 Again, and Viacom's (NYSE: VIA) The Soloist.

Well, my friends, last week I discussed the better-than-expected box office results of Disney's (NYSE: DIS) Hannah Montana: The Movie. The project grossed well over $30 million in its opening weekend and ranked in first place. Looks like the half-life was short on this one.

According to Boxofficemojo, the early estimates for this past weekend place Montana in fourth place with roughly $12 million. This represents a huge dive of 60%. The film does not have any legs, let me tell you. Disney shareholders should be disappointed (I'm one, and I'm very disappointed).