Wunderlich’s Entertainment Review (SNE, GE, CMCSA)

Wunderlich Securities is out with their weekly entertainment review this morning, where they review several movies currently at the box office. • Inception: Warner Bros. and Legendary sci-fi project fell only 36% in its third weekend to gross $27.5 mm. This comes after generating the highest opening ever for Leonardo DiCaprio, opening at $60.4 mm versus the WS analysts’ expectations of in the mid-40s. • Dinner for Schmucks's: $23.3 mm opening, which is another good showing for Universal Pictures. Steve Carell continues to deliver across the board for NBC Universal in a summer that has been more geared toward action and animation than comedies. • Salt: predictably fell 47% to $19.3 mm for #3 spot. Defying Newtonian physics in the film's special effects, Angelina Jolie did better than expected for Sony Pictures SNE in a film that should have significant foreign box office upside • Despicable Me: generates another $15.5 mm, falling 34%, for Universal Pictures. The movie cost less than $70 mm to produce, and with domestic cumulative gross now at $190.3 mm, it has evident potential to reach $225 mm. It is also a mild positive in at least improving sentiment for the non-cable network valuation component within Comcast's CMCSA proposed NBC Universal venture with General Electric GE. The release is already the highest grossing Universal film in three years. • 3-D Cats & Dogs: The Revenge of Kitty Galore: a rare disappointment for Warner Bros. Wunderlich remains convinced of the importance of 3-D for both the exhibition business and in the home, particularly as the quality of 3-D movies is now somewhat murky but will inevitably improve with technology.