LOS ANGELES (Reuters) ? Shares in Dreamworks Animation leapt more than 10 percent after "Puss in Boots" nabbed its second weekly box office crown with a surprisingly strong $48 million in global ticket sales.
Dreamworks' latest animated feature, a spinoff from the "Shrek" franchise starring Antonio Banderas as the titular feline fencing maestro, underperformed on its debut two weeks ago, but made up for it on its second weekend by relegating Eddie Murphy's "Tower Heist" to second place.
The animation studio's stock pounced to a high of $19.16, and was up 8.4 percent at $18.86 at midday.
"'Puss' could have substantially longer legs than expected," Hudson Square Research analyst Maria Backer wrote in a client note on Monday. "It is closing the gap between its performance and that of other recent Dreamworks Animation titles relative to opening metrics."
The movie's $34 million domestic take the previous weekend had disappointed Wall Street, triggering about an 8 percent slide in the studio's shares.
But the second weekend's domestic haul of $33 million marked a mere 3 percent drop from the first, vastly outperforming an average second-weekend box-office drop of close to 50 percent, Backer said.
The movie, which also features Salma Hayek, has now raked in $114.5 million, worldwide.
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