Disney’s Chicken Little is out, and while the reviews aren’t great, the returns are quite nice. TheStreet.com‘s Johnathan Berr writes:
The sky wasn’t falling at Disney (DIS:NYSE) Monday after Chicken Little posted a strong opening weekend at the box office.
The tale of the scrawny chicken who thinks the world is coming to an end took in $40 million, according to Boxofficemojo.com. That made it the weekend’s top movie and the second-biggest opening in terms of unadjusted grosses for a Disney-made feature, behind The Lion King.
Chicken Little’s performance, which came despite lukewarm reviews, may ease concerns on the part of some investors that the Burbank, Calif.-based media giant is too dependent on its partner Pixar for hit animated films.
"Forty million isn’t bad," says Dennis McAlpine, an independent media analyst based in Scarsdale, N.Y., who rates Disney buy and Pixar hold. He doesn’t own shares of either company. "It certainly isn’t a flop."