'Karate Kid' opens at No. 1 with $56 million kick (AP)

20th Century Fox release opening in second place with $26 million.

Visit http://allstateinsuranceproducts.wordpress.com/

Shrek Forever After " slipped to No. 3 with $15.8 million. The animated hit raised its domestic haul to $210.1 million, becoming the fourth movie released this year to top $200 million.

for more information about Allstate insurance products News / Reviews

With a relatively modest production budget of $40 million, "The Karate Kid" far exceeded the studio's expectations. Early on, Sony executives would have been happy if the movie opened to half its $56 million debut weekend, said Rory Bruer, the studio's head of distribution.

Full Story: 'Karate Kid' opens at No. 1 with $56 million kick (AP)