Charles Schwab Acquires Thomas Partners and 2 Hot Stocks Seeing Action
Netflix (NASDAQ:NFLX) is unfazed by the European debt crisis, with CEO Reed Hastings claiming that it is unlikely to adversely affect its launch of online video streaming services in the Nordic regions. The company has just launched its low-priced offering in Sweden.
Charles Schwab (NYSE:SCHW) announces its acquisition of ThomasPartners, a dividend income-focused asset management firm with $2.3 billion in assets under management. An amount of $85 million would be paid upfront as consideration with additional payments in the future dependent on growth in assets.
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Shares in Millennial Media (NYSE:MM) are under pressure following its announcement of Q3 revenues expected in the range of $46.5M-$47M and a net loss in the range $1.9M-$2.5M; the company also announces a stock offering of 10 million shares of which 9 million would be sold be insiders and 1 million would be newly issued shares, post the expiration of a lock-up period.