Amazon: Our Web Video Project is Steamrolling

Knowledgeable sources reveal Amazon (NASDAQ:AMZN) may soon announce a partnership with Viacom Inc. (NYSE:VIA) (NYSE:VIAB) to source content for its Web-based video offering.

The announcement could come as soon as this week, and follows up on several similar deals Amazon has struck with major studios such as CBS (NYSE:CBS), Warner Bros. (NYSE:TWX), Fox (NASDAQ:NWS)(NASDAQ:NWSA), Sony (NYSE:SNE), NBC (NASDAQ:CMCSA) and Walt Disney (NYSE:DIS), for content to be streamed on its Prime Instant Video service.

Amazon is likely to extend the reach of the content to non-Prime customers, and also to give a fillip to its hit Kindle Fire tablet, which sold almost 5 million units in the fourth quarter. The deals would also significantly expand its content library.

Though competing with streaming video heavyweight Netflix (NASDAQ:NFLX), Amazon announced last month that both customers and videos rented doubled in the fourth quarter over the previous year, while its Prime Instant Video streaming ticked up nearly 300 percent in the quarter.

Here’s how these stocks are reacting to the news:

Amazon.com Inc. (NASDAQ:AMZN): AMZN shares recently traded at $185.65, up $1.46, or 0.79%. They have traded in a 52-week range of $160.59 to $246.71. Volume today was 1,270,474 shares versus a 3-month average volume of 6,346,020 shares. The company’s trailing P/E is 136.02, while trailing earnings are $1.37 per share.

Viacom Inc. Class A Common Stoc (NYSE:VIA): VIA shares recently traded at $54.68, up $0.4, or 0.74%. They have traded in a 52-week range of $44.10 to $60.90. Volume today was 2,360 shares versus a 3-month average volume of 25,802 shares. The company’s trailing P/E is 18.31, while trailing earnings are $2.99 per share.

Viacom, Inc. (NASDAQ:VIAB): VIAB shares recently traded at $49.41, up $0.61, or 1.25%. They have traded in a 52-week range of $35.13 to $52.67. Volume today was 510,449 shares versus a 3-month average volume of 4,465,250 shares. The company’s trailing P/E is 16.50, while trailing earnings are $2.99 per share.

CBS Corporation (NYSE:CBS): CBS shares recently traded at $30.01, up $0.11, or 0.37%. They have traded in a 52-week range of $17.99 to $29.93. Volume today was 681,824 shares versus a 3-month average volume of 6,864,320 shares. The company’s trailing P/E is 17.03, while trailing earnings are $1.76 per share.

Time Warner Inc. (NYSE:TWX): TWX shares recently traded at $38.97, up $0.87, or 2.28%. They have traded in a 52-week range of $27.62 to $38.62. Volume today was 3,747,208 shares versus a 3-month average volume of 6,406,130 shares. The company’s trailing P/E is 14.85, while trailing earnings are $2.63 per share.

News Corporation (NASDAQ:NWS): NWS shares recently traded at $20.23, up $0.04, or 0.2%. They have traded in a 52-week range of $13.83 to $20.31. Volume today was 323,327 shares versus a 3-month average volume of 2,891,250 shares. The company’s trailing P/E is 19.87, while trailing earnings are $1.02 per share.

News Corp. (NASDAQ:NWSA): NWSA shares recently traded at $19.62, up $0.12, or 0.62%. They have traded in a 52-week range of $13.38 to $19.79. Volume today was 3,308,310 shares versus a 3-month average volume of 16,541,500 shares. The company’s trailing P/E is 19.27, while trailing earnings are $1.02 per share.

Sony Corporation (NYSE:SNE): SNE shares recently traded at $19.95, up $0.27, or 1.37%. They have traded in a 52-week range of $16.16 to $36.97. Volume today was 189,634 shares versus a 3-month average volume of 1,352,160 shares. The company’s trailing earnings are $-7.68 per share.

Comcast Corporation (NASDAQ:CMCSA): CMCSA shares recently traded at $27.10, up $0.01, or 0.04%. They have traded in a 52-week range of $19.19 to $27.18. Volume today was 1,908,356 shares versus a 3-month average volume of 15,856,300 shares. The company’s trailing P/E is 19.55, while trailing earnings are $1.39 per share.

Walt Disney Co. (NYSE:DIS): DIS shares recently traded at $41.70, up $0.72, or 1.76%. They have traded in a 52-week range of $28.19 to $44.34. Volume today was 7,679,497 shares versus a 3-month average volume of 11,641,500 shares. The company’s trailing P/E is 16.46, while trailing earnings are $2.52 per share.

Netflix, Inc. (NASDAQ:NFLX): NFLX shares recently traded at $126.45, down $1.43, or 1.12%. They have traded in a 52-week range of $62.37 to $304.79. Volume today was 2,546,698 shares versus a 3-month average volume of 8,587,070 shares. The company’s trailing P/E is 29.55, while trailing earnings are $4.26 per share.

To contact the reporter on this story: Damien Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com