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Here’s Why IMAX Stock is Soaring Today

NEW YORK (TheStreet) -- IMAX Corp. (IMAX - Get Report) stock is rising 4.13% to $31.75 in late morning trading Monday as the movie production and distribution company continues to see strong sales in the 2016 first quarter.

The company's box office revenue is expected to increase 27% year-over-year to $210 million for the first quarter of the year, driven by new movies such as Deadpool, which has generated about $46 million in sales for IMAX since its release, MKM Partners said in an analysts note this morning.

First quarter revenue growth will also be helped by new movies in March, including The Divergent Series: Allegiant and Batman v...