Stock Market Actives: Netflix, Estee Lauder, Trimble Navigation, BEAM

Netflix (NASDAQ:NFLX): According to sources close to the matter, Viacom (NYSE:VIA) Chairman Sumner Redstone is expected to approve a subscription revenue agreement with Amazon (NASDAQ:AMZN), and say the companies are putting “the final touches” on a deal, the New York Post reports. Viacom already has streaming agreements with Hulu and Netflix (NASDAQ:NFLX). Talk of the deal is not getting in the way of Netflix shares rising 2% to $126 per share today.

The Estee Lauder Companies Inc. (NYSE:EL): Sees Q3 net sales up 4%-5% in constant currency. Consensus is $2.27B. Including items, EPS is expected tobe 27c-31c. The Company expects to take charges associated with restructuring activities in Q3 of about $7M, equal to approximately 1c per diluted common share. In connection with its long-term strategic plan, as well as certain ongoing initiatives, the Company expects to realize savings of between $25M-$35M in Q3. Shares of The Estee Lauder Companies Inc. are trading 3.93% lower today.

Trimble Navigation Limited (NASDAQ:TRMB): Trimble Navigation (NASDAQ:TRMB), which markets advanced positioning products, reported Q4 EPS of 54c, versus analysts’ consensus estimate of 48c. The company’s revenue also came in higher than expected. Trimble provided Q1 EPS guidance of 61c-63c, versus the consensus estimate of 58c. The company’s Q1 revenue guidance was also higher than expected. Trimble believes that its positive momentum will continue into 2012 and the company expects to post strong results in 2012, subject to worldwide economic conditions. “We enter 2012 with a strong portfolio that is dynamic and capable of producing significant growth over the next few years,” added Trimble CEO Willa McManmon. In early trading, Trimble jumped $3.17, or 6.57%, to $51.31. Shares of Trimble Navigation Limited are trading 5.9% higher today.

BEAM Inc (NYSE:BEAM): Says earnings target for 2012 is to grow diluted EPS before charges/gains at a high-single-digit rate against 2011 base of $2.12. Consensus is $2.32. Shares of BEAM Inc are trading 1.54% higher today.

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

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