Taylor Swift continues to break records - this time at the box office
TheStreet’s J.D. Durkin brings you the biggest news of the day, including Rite Aide filing for bankruptcy and Taylor Swift continuing to break records.
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00:00 I'm JD Dirken reporting from the New York Stock Exchange and here's a look at what we are watching
00:04 on the street today. Wall Street is bracing for a busy week of third quarter reports as earnings
00:09 season officially heats up. Some of the biggest names to report this week include Bank of America,
00:14 Johnson & Johnson, Netflix, as well as Tesla. And these reports come after solid reports from some
00:19 of the biggest banks we saw at the end of last week. Investors are also reacting to a bankruptcy
00:25 filing from Rite Aid, the pharmacy giant filing for Chapter 11 bankruptcy on Sunday as it continues
00:31 to struggle with slowing sales. The company has seen its stock drop over 80% in 2023 alone.
00:38 Meanwhile, it's just really good to be Taylor Swift right now. On top of her mega concert tour
00:43 and taking over the screens of NFL fans everywhere, Taylor Swift can now call herself a box office
00:49 superstar. That's right. Her Taylor Swift the Eros Tour concert film brought in 96 million dollars
00:55 in the US and Canada, making it the highest grossing concert film on record according to AMC.
01:01 It was also number one at the box office in the UK, Mexico, Australia, Germany and the Philippines.
01:08 But according to AMC CEO Adam Aaron, the film has potential to be even bigger, saying quote,
01:14 "With more reviews out and millions watching the movie, people are raving about Taylor Swift,
01:19 the Eros Tour. We won't know exactly until Sunday, but likely to be one of the biggest
01:23 grossing movies of all time released during the month of October." And while AMC is surely
01:29 reveling in the good fortune, it probably doesn't come as much of a surprise. The company revealed
01:34 it took less than 24 hours for Swift's film to shatter companies US record for the highest
01:40 ticket sales revenue during a single day. AMC has been around for 103 years.
01:46 That'll do it for your daily briefing from the floor of the New York Stock Exchange.
01:49 I'm JD Durkin with the street.
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