Disney and Other Owners Hang Onto Hulu and 2 More Dow Movers to Watch
Walt Disney Co. (NYSE:DIS): Current price $66.82
Walt Disney Co., 21st Century Fox, and NBCUniversal on Friday jointly announced they will keep their respective ownership positions in Hulu and will together provide a cash infusion amounting to $750 million so as to boost future growth. Introduced in 2008, Hulu is currently a top aggregator of premium online television content from more than 400 content partners and has drawn more than 30 million monthly unique visitors. Disney Chairman and CEO Robert A. Iger said: “Hulu has emerged as one of the most consumer-friendly, technologically innovative viewing platforms in the digital era. As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential.”
Hewlett-Packard Co. (NYSE:HPQ): Current price $26.22
The market researcher Gartner reports that personal computer shipments have fallen for a fifth consecutive quarter, making for the longest losing streak on record while consumers continued to prefer touch-screen tablets and smartphones for getting online. On Thursday, the researcher said in a statement that second-quarter global unit shipments fell by 10.9 percent to 76 million. Hewlett-Packard’s world shipments declined by 4.8 percent, making up 16.3 percent of the market, while Dell Inc. reported a 3.9 percent drop, leaving it with a share of 11.8 percent. Gartner also said that Lenovo’s unit sales fell by 0.6 percent, providing it with a market share of 16.7 percent versus 14.9 percent in year-over-year from 2012.
JPMorgan Chase & Co. (NYSE:JPM): Current price $45.82
Fresh from JPMorgan’s impressive second-quarter results announcement, CEO Jamie Dimon had good words for his traders’ handling of a plummet in emerging market assets in June, and warned that other banks might not have fared as well. On a conference call with analysts Friday morning, Dimon said: “Our folks in emerging markets also did a spectacularly good job, because I think you might see some real differentiation there from some other folks on how their numbers come out. Obviously, when spreads widen out, certain businesses are more at risk than others. In emerging markets, we probably saw the most volatility.” Risk premiums on emerging market debt widened subsequent to Federal Reserve Chairman Ben Bernanke indicating the central bank might taper off its $85 billion in monthly bond purchases, which have reinforced demand for higher yielding assets.
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