AMC spikes after “Captain America” avoids face-plant to debut at No. 1

The US men’s hockey team weren’t the only ones in stars and stripes dominating and commanding eyeballs this weekend.

“Captain America: Brave New World,” the latest edition to the Marvel Cinematic Universe, booked a healthy $100 million domestically from Friday through Monday, slightly besting forecasts, with international gates coming in at about $92 million.

The movie was roundly panned by viewers, but Marvel movies open at No. 1 as surely as the sun rises in the east and sets in the west. That said, fears around “superhero fatigue” have weighed on expectations not just for Marvel but for the exhibition business as well, and so Captain America is the hero cinemas needed.

Movie theater chain AMC is up about 5%, while Disney, which owns Marvel’s intellectual property, is modestly lower on the day.

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J. Edward Moreno2h

Gene-editing stocks rally on Bloomberg report that FDA plans to fast-track approval process

Shares of biotechs working with gene-editing treatments rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.

FDA Clears Way for Faster Personalized Gene Editing Treatments

Jon Keegan

Amazon pulled off its monster quarter despite being left out of OpenAI’s tangle of deals

Amazon’s AWS revenue grew 20% year on year, and will hit $125 billion in capex for the year. CEO Andy Jassy said the 14,000 jobs cut weren’t about money, but about “culture.”

Matt Phillips2h

Getty Images shares moon on licensing deal with Perplexity

Getty Images soared Friday after announcing a multiyear licensing deal with AI search company Perplexity AI. Reuters reports:

“Under the agreement, Perplexity will integrate Getty’s API technology into its AI platform workflows, enabling users to access premium visuals while improving image attribution. The collaboration is part of a wider trend of digital platforms signing licensing deals with AI content providers to expand content access while respecting intellectual property rights and generating revenue.”

Getty was up as much as 85% in the premarket trading session, but those gains are quickly dropping as holders rush to dump the stock, which has been a truly disastrous long-term trade.

In fact, Getty has had a pretty bizarre ride since it returned to the public markets on July 25, 2022, as part of a SPAC deal — in a previous life it had been publicly traded before being taken private in 2008. Within days of its return, Getty became a minor meme stock, spiking more than 250% before crashing a couple months later.

Since then, the stock’s trajectory has been abysmal. Prior to the announcement of the Perplexity AI deal on Friday, it was down 80% from its trading debut. No wonder people are trying to get out fast.

At last glance, those 85% gains in the premarket have been swamped by sellers, shrinking today’s gain for Getty down to 17%.

J. Edward Moreno2h

AbbVie earnings beat estimates but sag on decline in oncology and aesthetics biz

AbbVie slipped after it reported earnings results that beat Wall Street estimates, but also showed a slowdown in its oncology and aesthetics business.

The company reported adjusted quarterly earnings per share of $1.86, compared to the $1.77 analysts polled by FactSet were expecting, and raised its full-year profit guidance. It also reported revenue at $15.7 billion, higher than the $15.5 billion the Street was penciling in.

But the pharmaceutical giant’s oncology and aesthetics business (sales of Botox and Juvederm) slowed down and missed the Street’s estimates. The latter is sometimes seen as a pulse for consumer sentiment.

J. Edward Moreno2h

Hims & Hers rises after JPMorgan ups position

Hims & Hers rose on Friday after JPMorgan disclosed that it substantially increased its position in the telehealth company.

As of September 30, JPMorgan owned 17,796,759 shares — or about 8.1% of the company — up from the 2,740,375 it owned on June 30. Hims, a heavily shorted, volatile stock, reports earnings on Monday.

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