Coinstar Stock Rises as Redbox-Verizon Venture Details Unfold

An announcement that Redbox (NASDAQ:CSTR) and Verizon (NYSE:VZ) will be partnering to enter the Internet streaming business has Coinstar stock rising today. TechCrunch reports that the companies are joining forces to launch a TV and movie streaming and download service that will debut in May. The new service will compete directly with the likes of Hulu (NYSE:DIS)(NASDAQ:CMCSA), Netflix (NASDAQ:NFLX), Amazon.com (NASDAQ:AMZN) and iTunes (NASDAQ:AAPL). Coinstar is the parent company of RedBox.

The project is being called Project Zoetrope by those within the companies, and TechCrunch reports that the service will offer various subscription levels beginning at just $6 per month. Project Zoetrope also aims to reach subscribers on a variety of platforms including  iOS, Android, Google TV (NASDAQ:GOOG), Xbox (NASDAQ:MSFT), Roku and other streaming boxes and browsers. Streaming will not be available via cables boxes, as the service is Internet-based and not broadcast.

TechCrunch reports that the partnership makes sense on several levels. Verizon has no current media delivery offerings, while Redbox is well-branded in that arena and known for affordability and simplicity. Meanwhile, Redbox has a very small TV show offering, so TechCrunch suspects that Verizon may be tackling that category. Verizon will obviously be responsible for the delivery-infrastructure.

Here’s how these stocks closed the week:

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $393.62, up $2.96, or 0.76%. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 10,612,255 shares versus a 3-month average volume of 18,886,600 shares. The company’s trailing P/E is 14.22, while trailing earnings are $27.68 per share.

Amazon.com Inc. (NASDAQ:AMZN): AMZN shares recently traded at $193.03, up $2.55, or 1.34%. They have traded in a 52-week range of $160.59 to $246.71. Volume today was 5,159,276 shares versus a 3-month average volume of 7,052,670 shares. The company’s trailing P/E is 101.76, while trailing earnings are $1.90 per share.

Comcast Corporation (NASDAQ:CMCSA): CMCSA shares recently traded at $22.68, up $0.21, or 0.93%. They have traded in a 52-week range of $19.19 to $27.16. Volume today was 13,960,804 shares versus a 3-month average volume of 19,505,700 shares. The company’s trailing P/E is 16.32, while trailing earnings are $1.39 per share.

Coinstar Inc. (NASDAQ:CSTR): CSTR shares recently traded at $46.04, down $1.41, or 2.97%. They have traded in a 52-week range of $37.43 to $66.79. Volume today was 880,371 shares versus a 3-month average volume of 1,351,170 shares. The company’s trailing P/E is 17.68, while trailing earnings are $2.60 per share.

Verizon Communications Inc. (NYSE:VZ): VZ shares recently traded at $38.43, up $0.62, or 1.64%. They have traded in a 52-week range of $32.28 to $38.95. Volume today was 12,405,874 shares versus a 3-month average volume of 15,583,100 shares. The company’s trailing P/E is 15.45, while trailing earnings are $2.49 per share.

Walt Disney Co. (NYSE:DIS): DIS shares recently traded at $36.56, up $0.64, or 1.78%. They have traded in a 52-week range of $30.72 to $44.34. Volume today was 7,323,389 shares versus a 3-month average volume of 9,583,640 shares. The company’s trailing P/E is 14.51, while trailing earnings are $2.52 per share.

Netflix, Inc. (NASDAQ:NFLX): NFLX shares recently traded at $70.89, up $1.47, or 2.12%. They have traded in a 52-week range of $62.37 to $304.79. Volume today was 4,703,040 shares versus a 3-month average volume of 10,240,500 shares. The company’s trailing P/E is 16.11, while trailing earnings are $4.40 per share.

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $627.42, up $11.37, or 1.85%. They have traded in a 52-week range of $473.02 to $642.96. Volume today was 2,768,503 shares versus a 3-month average volume of 3,138,670 shares. The company’s trailing P/E is 21.39, while trailing earnings are $29.34 per share.

Microsoft Corporation (NASDAQ:MSFT): MSFT shares recently traded at $25.70, up $0.3, or 1.18%. They have traded in a 52-week range of $23.65 to $29.46. Volume today was 53,790,403 shares versus a 3-month average volume of 56,147,600 shares. The company’s trailing P/E is 9.34, while trailing earnings are $2.75 per share.