MCS - AMC gains 7% as bulls seek good earnings news after close; other cinemas struggling

AMC Entertainment (NYSE:AMC) is jumping to a session high, up 6.5% and bucking a down sector just ahead of its highly anticipated earnings coming after the closing bell. It's a report where the company is widely expected to lose nearly a dollar per share while actually recording some substantial revenue, vs. a trickle in the second quarter last year. And it's moving up despite the uninspiring results from the box office this weekend, where a combination of COVID-19 fears and online release may have sent The Suicide Squad (the weekend's only wide release) to disappointing receipts. Easy comparisons to last year's lockdowns haven't necessarily made this earnings season a cakewalk for movie theaters. Two that have reported so far, Cinemark (CNK -3.3%) and IMAX (IMAX -3.9%), showed some strong year-over-year gains but are still at less than half of revenues from the same period in 2019, pointing the way to

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AMC gains 7% as bulls seek good earnings news after close; other cinemas struggling