Marvel(ous) closed for +86%, +40%
5May2008 Filed under: Past Performance and Trade Ideas Author: OptionPunditMarvel Entertainment’s (MVL) Iron Man did set the box office on Fire. I mentioned about this in my earlier post, before earnings announcement. We at OPNewsletter (Member’s only) closed it for +86% for only 1 working day holding. We went in prior to the earnings and closed it soon after market opened for +86% gains. I also opened straight calls that I closed for nearly +40% (Bot June 35 calls for $0.75 and sold for $1.05).
According to RTT news-
Marvel beat the revenues, earnings and also raised guidance. It said net income for the first quarter ended March 31, 2008 amounted to $45.2 million or $0.58 per share. On average, 9 analysts polled by First Call/Thomson Financial expected the company to earn $0.43 per share for the quarter. It said were $112.6 million. Wall Street analysts had a sales consensus estimate of $111.65 million for the quarter.
Marvel said Iron Man, debuted this weekend, grossed $100.75 million over the three-day weekend. This represents the 10th best opening weekend ever and the 2nd best non-sequel feature film debut ever - second only to Spider-Man, also a Marvel character. On a worldwide basis, Iron Man has generated an estimated $201 million in global box office to date.Marvel said it plans to produce and release Iron Man 2 on April 30, 2010, followed by the launch of Thor on June 4, 2010. Additionally, Marvel is planting its feature film stakes for summer 2011 with an Avengers-themed summer - a two-picture project which will debut on May 6, 2011 with The First Avenger: Captain America followed by The Avengers in July 2011.
Looking ahead to 2008, Marvel revised up its net income forecast to $104 million - $122 million range or earnings of $1.35 - $1.55 per share on sales in the range of $370 million - $400 million. Earlier, the company expected earning to be between $100 million and $118 million or $1.30 to $1.50 per share on revenues in the range of $360 million - $00 million. Currently, Street analysts expect the company to earn $1.58 per share on revenues of $490.13 million for fiscal 2008.
A Marvel(ous) story and I love it, and so do the OPNewsletter subscribers.
Profitable trading, OP
3 Responses to “Marvel(ous) closed for +86%, +40%”
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Been There, Done That
mariegrobertson
May 5th, 2008 at 11:36 am
Beautiful trade! I’ve been watching, but read your post too late on Friday. So didn’t have a chance to trade. I’ll keep following the various posts.
Tony Chai
May 7th, 2008 at 4:20 am
Hi OP :
What a marvelous trade.
Priceline (PCLN) would be reporting 8/5/08 after market, how’s your take on it?
Yours Truly,
Tony Chai
OptionPundit
May 7th, 2008 at 10:19 pm
Thanks. I like PCLN as well, but play for PCLN is going to be different from MVL. MVL, I was very sure of the bullish direction, I am not sure of direction on PCLN, as of now. But I think I will be playing PCLN as well.