AMC Entertainment jumps 20% after APE conversion denied, ‘Barbenheimer’ scores

Shares of AMC Entertainment (AMC) are up 86c, or 20%, to $5.26 in early Monday trading after Vice Chancellor Morgan Zurn reportedly rejected a nine-figure settlement that would have let the company convert its APE preferred units into common stock while handing out extra stock to mitigate the dilution of ordinary shareholders. In addition, Warner Bros.’ (WBD) “Barbie” won this weekend at the North American box office with a historic $155M debut while another hot debut took number 2, with Comcast (CMCSA) subsidiary Universal’s “Oppenheimer” earning $80.5M. Following the strong opening for “Barbie,” shares of doll maker Mattel are also up about 1% to $21.47 on Monday morning.