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December 4, 2012
16:21 EDTNFLX, GERN, TEVA, CAKE, LMCA, UEPS, GALE, EAT, DIS, BIG, DIN, DRIOn The Fly: Closing Wrap
Stocks on Wall Street were slightly lower after a day marked by a light flow of news and economic data. Fiscal cliff headlines continued to come out of Washington, with President Obama speaking to Bloomberg TV in his first interview since the election, though the market had a limited reaction to the President's comments... ECONOMIC EVENTS: No major economic data was released in the U.S. Internationally, the Reserve Bank of Australia cut its key benchmark interest rate to 3.00% from 3.25%, as expected, and the Bank of Canada maintained its target for its overnight rate at 1%... COMPANY NEWS: Netflix (NFLX) announced a distribution agreement that gives it exclusive U.S. subscription rights to Disney (DIS) films beginning in 2016. Shares of Netflix jumped following the news, advancing $10.65, or 14.01%, to $86.65. Shares of Disney, which had been lower during much of the session, eventually pared losses to close up 1c, or 0.02%, to $49.30. Meanwhile, Liberty Media (LMCA), whose Starz unit currently holds the rights to Disney movies under a deal that expires in 2015, declined $5.42, or 4.88%, to $105.63... Darden Restaurants (DRI) warned its profit for the current quarter and the year may fall well short of analyst expectations and shares plunged following the guidance, finishing the day down $5.02, or 9.58%, to $47.40. Shares of peers in the casual restaurant industry, including Brinker (EAT), Cheesecake Factory (CAKE) and DineEquity (DIN), moved lower as well... MAJOR MOVERS: Among the notable gainers were Galena Biopharma (GALE), up 20c, or 9.80%, to $2.24 after signing a commercialization partnership for its NeuVax drug with Teva (TEVA), and Big Lots (BIG), up $3.23, or 11.52%, to $31.27 after its quarterly losses were not as steep as expected. Among the noteworthy losers was Net 1 UEPS (UEPS), which plunged $4.62, or 58.93%, to $3.22 after disclosing the DOJ and FBI are investigating the company for potential violations of the Foreign Corrupt Practices Act. Also lower were shares of Geron (GERN), down 34c, or 22.97%, to $1.14 after it discontinued development of a treatment for brain cancer, announced job cuts and said its CFO is leaving the company to pursue other opportunities... INDICES: The Dow was down 13.82, or 0.11%, to 12,951.78; the Nasdaq was down 5.51, or 0.18%, to 2,996.69; and the S&P 500 was down 2.41, or 0.17%, to 1,407.05.
News For NFLX;DIS;LMCA;DRI;EAT;CAKE;DIN;GALE;TEVA;BIG;UEPS;GERN From The Last 14 Days
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May 27, 2015
06:02 EDTDISCMGE enters into cooperation with Disney to publish Star Wars: Commander
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May 26, 2015
10:13 EDTEATHigh option volume stocks
High option volume stocks: GFI EAT DSKY CHTR BID ADTN BLMN EXPR YCS NUVA
09:22 EDTNFLXRovi gets 'de facto renewal' with TWC buyout, says JPMorgan
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07:07 EDTDISDisney price target raised to $115-$129 from $113-$118 at Wells Fargo
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06:10 EDTNFLXStocks with implied volatility below IV index mean; NFLX LNKD
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May 25, 2015
12:50 EDTDISDisney's 'Tomorrowland' leads U.S. weekend box office with $32.2M
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May 22, 2015
07:36 EDTNFLXNetflix price target raised to $700 at RBC Capital following customer surveys
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May 21, 2015
14:54 EDTNFLXCiti ups Netflix target on international potential as company eyes China
Citigroup raised its price target for Netflix (NFLX) to $722 and maintained a Buy rating on the stock, citing the company's underappreciated international expansion and declining churn trends. WHAT'S NEW: In a research note, Citigroup analyst Mark May raised his price target on Netflix to $722 from $584, saying that despite the stock's 31% jump since reporting first quarter earnings on April 15, Netflix shares still have room to advance as the company extends its service globally. May believes the U.S. only accounts for 18% of Netflix's total addressable market based on broadband household metrics. Additionally, he thinks subscribership should trend positively as original content grows and churn declines, resulting in a potential 20% U.S. streaming revenue growth in 2016. The firm stated that Netflix's financial model should generate similar operating profits from "most" of the markets it chooses to enter, and that non-English speaking Netflix markets are being significantly undervalued when taking into account their size. Based on Citi's analysis, Japan, Australia, and New Zealand have a $25 implied enterprise value per broadband household, which, at roughly 10% of the U.S. metric, implies "very conservative" assumptions. Citi highlighted that Netflix's current stock price does not account for any additional value from further international launches, which could include Spain, Italy, Portugal, China, Russia, and India. The firm also remains optimistic on subscriber numbers for coming quarters, saying both churn and content offerings are improving at the company. WHAT'S NOTABLE: On May 14, Bloomberg reported that Netflix has held talks with several Chinese media companies, including Wasu Media, backed by Alibaba (BABA) chairman Jack Ma. In response to the report, a Netflix spokesperson remarked that the company plans to be "nearly global" by the end of 2016. PRICE ACTION: Netflix is trading near flat on the day to $622.47.
12:52 EDTDISESPN and StubHub agree to content distribution deal, Variety reports
Disney's (DIS) ESPN has agreed to a content distribution deal with eBay's (EBAY) StubHub, reports Variet. Terms of the deal were not disclosed. ESPN plans to feed scores, team stats and articles to StubHub's app, a feature that will be available in the U.S., the U.K. and Canada. Reference Link
09:36 EDTNFLXActive equity options trading on open
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06:23 EDTNFLXNetflix price target raised to $722 from $584 at Citigroup
Citigroup analyst Mark May raised his price target for shares of Netflix to $722 with the stock up 31% since reporting earnings on April 14. After revisiting his valuation analysis, May continues to believe Netflix's international opportunity is underappreciated. The analyst also expects the streaming service's subscriber trends to continue benefiting from lower churn and better content. May maintains a Buy rating on Netflix. The stock closed yesterday up $5.05 to $621.53.
May 20, 2015
12:11 EDTNFLXNetflix to introduce new web interface in June, TechCrunch reports
Netflix is testing a new user interface that does away with its carousels, reports TechCrunch. The company is expected to rollout the new interface on the web to all users worldwide beginning next month. Reference Link
May 19, 2015
16:01 EDTNFLXOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
11:04 EDTNFLXNetflix hits pattern price target
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09:37 EDTNFLXActive equity options trading on open
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08:11 EDTDISVerizon CFO says customers 'tired of paying for 300 channels'
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06:29 EDTDIS21st Century Fox expects to continue investing in TV, Deadline reports
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06:08 EDTTEVAPerrigo CEO says would talk with Mylan, but at a higher price, Globes reports
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May 18, 2015
06:04 EDTUEPSNet 1 UEPS elects to withdraw from SASSA RFP
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May 17, 2015
15:37 EDTDISUniversal's 'Pitch Perfect 2' leads U.S. weekend box office with $70.3M
For the weekend of May 17, Comcast (CMCSA, CMCSK) subsidiary Universal's "Pitch Perfect 2" topped domestic box office charts at $70.3M. Time Warner (TWX) subsidiary Warner Bros.' "Mad Max: Fury Road" landed in second place with $44.4M, while Disney's (DIS) "Avengers: Age Of Ultron" came in third with $38.8M. Warner Bros.' "Hot Pursuit" and Universal's "Furious 7" took fourth and fifth place at $5.8M and $3.6M, respectively. Data gathered by Rentrak.
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