Netflix Climbs After Analyst Note and 4 Hot Stocks Turning Heads
Netflix, Inc. (NASDAQ:NFLX) has climbed following Citigroup analyst Mark Maheny’s statement in a note to investors that overall customer satisfaction with the company has shown improvement, for the first time since last summer. The amount of consumers who are very or extremely satisfied with the company has seen a rise, according to Citigroup’s proprietary survey, Maheny said. Also, the amount of respondents listing Netflix as a top destination also saw an increase. The analyst believes that Netflix’s valuation is “highly reasonable,” and it keeps its Buy rating and a price target of $120 on the stock. In early trading, Netflix saw an increase of $3.07, or 5.44 percent, to $59.55.
Monsanto Co. (NYSE:MON): Vegetable sales, which saw a rise during Q4 compared to the previous year’s period, fell year-over-year. The company believes that the vegetable business will return to growth during 2013 and still anticipates it reaching its third largest crop platform in terms of gross profit in the coming years. Cotton revenue saw a fall year-over-year partially to acre shifts to other crops.
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Family Dollar Stores Inc. (NYSE:FDO) sees its FY13 CapEx at $600 to $650 million, and it sees about 500 new store openings and 70-90 store closings. The company has a FY13 effective tax rate of 36 to 37 percent.
Ocwen Financial Corp. (NYSE:OCN) along with private equity firm WL Ross & Co. LLC have begun an agreement whereby Ocwen is to acquire Homeward Residential Holdings, which includes its various residential mortgage loan servicing and origination operating subsidiaries, for about $588 million in cash and $162 million in Ocwen convertible preferred stock. Homeward services nearly 422,000 mortgage loans with an aggregate unpaid principal balance totaling more than $77 billion. Its loan origination business includes correspondent and retail lending and has a focus only on high quality Agency-conforming mortgages. Homeward brings its global servicing platform along with a growing origination business operating at a $10 billion annual run-rate after its launch as recently as 2011. Subject to regulatory approvals, the transaction should close by the end of the year. It is not necessary for Ocwen to raise any additional equity capital to close the transaction.
Leap Wireless International Inc. (NASDAQ:LEAP) has fallen 14 percent following MetroPCS’ deal, and it has also been downgraded by JPMorgan.
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