Box Office Report for Weekend of July 7th

Revived ‘Spider-Man’ wins weekend with $117M

Revived 'Spider-Man' wins weekend with $117M See https://www.stockwinners.com/ActiveTraders

Box Office Battle:

 Sony’s (SNE) second reboot of the Marvel superhero series “Spider-Man: Homecoming” led the North American box office in its weekend debut, with an estimated $117M in sales in the U.S. and Canada, according to ComScore. The film was part of a production deal with Walt Disney’s (DIS) Marvel unit and marked Sony’s first number 1 opening this year. Overseas, “Spider Man: Homecoming” took in $140M from 56 markets. The superhero reboot holds a critics rating of 93% on Rotten Tomatoes and received an A in audience polls from #CinemaScore.

BOX OFFICE RUNNERS-UP:

Comcast’s (CMCSA) “Despicable Me 3” came in second place, declining 53% to $34M for a 10-day domestic total of $149.2M and global tally well north of $300M. Sony’s “Baby Driver” followed at number 3 in North America with $12.8M. Behind Sony’s second summer win was Warner’s (TWX) “Wonder Woman” with $10.1M for a domestic tally of $368.8M and $745.8M worldwide.

Rounding out the top five, Viacom’s (VIAB; VIA) Paramount Pictures “Transformers: The Last Knight” ended its third weekend with $6.3M for a lackluster North American total of $118.9M.

Other publicly traded companies in filmmaking include Lionsgate (LGF.A) and 21st Century Fox (FOX).

Barron’s Is Bullish on Oil

Barron’s, the weekly publication owned by the Wall Street Journal, in its latest issue is bullish on several names. They include:

Barron's Logo on stockwinners

Autodesk, Alexion could have upside, Barron’s says – Elevated sales, marketing and staffing expenses could mean a company’s stock has upside, Jack Hough writes in this week’s edition of Barron’s, citing a paper published in The Review of Financial Studies that links high SG&A with future stock returns. Among the companies that look attractive on this basis that “you have to spend money to make money” are Autodesk (ADSK), Alexion (ALXN), Electronic Arts (EA) and Silicon Laboratories (SLAB), the publication argues.

Apache stock could double, Barron’s says – Apache’s (APA) stock could double after years of missteps, given its new gas discoveries and focus on costs, Leslie Norton writes in this week’s edition of Barron’s. Both Harris Associates and Davis Funds increased their stakes in the first quarter on the expectation that the shares of the driller could double from a recent $45, Barron’s adds.

Steel prices likely stable in the near-term, Barron’s says – China’s economic slowdown, a strong dollar and a U.S. bid to halt imports are likely to stabilize steel’s price in the near-term, Manuela Badawy writes in this week’s edition of Barron’s. After hitting multiyear lows back in late 2015, prices for the industrial metal rose some 45% in the past 18 months, the publication notes. Publicly traded companies in the space include U.S. Steel (X), Steel Dynamics (STLD), Nucor (NUE), ArcelorMittal (MT), and AK Steel Holding (AKS).

O’Reilly Automotive will overcome ‘disappointing’ sales figures, Barron’s says – In a follow-up story, Barron’s tells readers that while O’Reilly Automotive estimated that second quarter same-store sales growth will be 1.7%, well below previous guidance of 3% to 5%, the auto-parts supplier will overcome the “disappointing” sales figures and will get back on track.

Oil prices could rise 35% this year, Barron’s says – Crude oil, which has recently been volatile in price, could stabilize at about $60 a barrel by the end of this year as demand increases, lifting the shares of companies in the space, Barron’s says in an article citing Citigroup’s analyst Eric Lee. This forecast would mean a price jump of 35%, the publication notes. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), BHGE (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT).

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The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

ClubCorp Sold for $1.1 Billion

ClubCorp to be acquired by Apollo for $17.12 per share

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ClubCorp (MYCC) announced that it has entered into a definitive agreement with affiliates of certain investment funds managed by affiliates of Apollo Global (APO), pursuant to which the Apollo funds will acquire all of the outstanding shares of ClubCorp for $17.12 per share in cash, or approximately $1.1B.

ClubCorp Holdings, Inc. owns and operates private golf, country, business, sports, and alumni clubs in North America. It operates in two segments, Golf and Country Clubs.

The all-cash transaction represents a premium of approximately 30.7% over ClubCorp’s closing stock price on July 7, 2017.

The ClubCorp Board of Directors, acting with the recommendation of its Strategic Review Committee, unanimously approved the agreement with the Apollo funds.

The transaction is subject to customary closing conditions, including approval by ClubCorp shareholders, and is expected to close in the fourth quarter of this year.

The ClubCorp Board of Directors has declared a one-time quarterly dividend of 13c per share of common stock. The dividend is expected to be paid on July 28, 2017, to shareholders of record at the close of business on July 21, 2017.

Upon completion of the transaction, ClubCorp will be a privately held company, and ClubCorp’s common shares will no longer be listed on the New York Stock Exchange.

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The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.