Paramount was looking for bigger with Michael Bay's highly anticipated Transformers sequel and it looks like they've got it. Transformers: Revenge of the Fallen debuted to a record $16 million last night, the most ever for a Wednesday midnight run. (Warner Bros.' The Dark Knight scored $18 million for its midnight run last year, but that was on a Friday.)

So how high will Transformers 2's grosses go this weekend? Predictions have ranged anywhere from $125 million to $160 million for the five-day frame. Whatever the number, it will be good news for the box office, which is having trouble maintaining last summer's record draw. Check back here tomorrow for more detailed predictions in the Box Office Preview.