UPDATE 1-"Up" retains altitude, tops box office again

* Comedy "The Hangover" a close runner-up

* Will Ferrell's "Land of the Lost" in third

(Adds detail including critic ratings, movie executive quote)

By Bernie Woodall

LOS ANGELES, June 7 (Reuters) - "Up," the story of a floating house, its grumpy 78-year-old owner and an inquisitive 8-year-old accidental stowaway, remained atop the weekend box office in North America, selling $44.2 million of tickets its second weekend in theaters.

The family-friendly Disney/Pixar animated release about a house lifted by colorful balloons and the odd couple's adventures showed surprising staying power. Its weekend gross was down 35 percent from its opening weekend but still made a strong showing for a film in its second week.

Movie industry analysts had predicted that "Up" would bring in less than $40 million.

"The Hangover," released by Warner Bros. Pictures, was a close second at $43.3 million. The film about a group of men trying to reconstruct what happened at a wild, Las Vegas bachelor party benefited from a good buzz and positive reviews. It also was the first big comedy released after a month dominated by action flicks.

Universal's "Land of the Lost," a new release starring Will Ferrell, finished a disappointing third at $19.5 million. It is a remake of a mid-1970s U.S. children's television series.