Members of the 501st Legion Spanish Garrison dressed as Stormtroopers from the movie saga Star Wars. Photo: Jesus Merida/SOPA Images/LightRocket via Getty Images

The latest Star Wars movie “Solo,” which tells the story of Han Solo, is estimated to gross $101 million over Memorial Day Weekend — a record low for Star Wars movies, CNBC reports.

The big picture: Star Wars films have historically been knock out successes for Disney, but “Solo: A Star Wars Story” has performed far below expectations in the U.S. and overseas. Last week, Disney estimated the film would gross as much as $150 million over the holiday weekend.

  • Internationally, Solo grossed $65 million, with just $10.1 million from China, one of the world's largest film audiences.
  • The budget for the film ended up well past $250 million with a director switch-up in the middle of production.
  • Despite failing to meet expectations, ”Solo” is still leading ticket sales in North America this weekend at $83.3 million CNBC adds, followed by “Deadpool 2“ at $42.7 million and “Avengers: Infinity War“ at $16.5 million.
  • Star Wars: The Last Jedi, the last film of the series before Solo, has grossed over $1.31 billion to date, per Forbes.

Go deeper

Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.