Imax Ends Day Up 4.4%, After Hitting 52-Week High On Takeover Rumors (IMAX, SNE, DIS)

Shares of Imax Corporation IMAX ended the Friday trading session up 4.4% at $28.05 per share. Imax Corporation's stock surged to a 52-week high at the beginning of trading on Friday, fueled by rumors that both Sony Corporation SNE and The Walt Disney Company DIS were interested in acquiring the company. However, the stock began decline after trading started and wasn't able to maintain most of its early gains. The day's range for shares of Imax Corporation (IMAX) was between $27.65 and $32.30 per share. The average price target of analysts who cover Imax Corporation is $25.05 per share. Volume of 25 million shares was far above the daily average volume of 1 million shares. IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. As of September 30, 2010, there were 470 IMAX theatres (348 commercial, 122 institutional) operating in 45 countries. Read more from Benzinga's Company news.