Netflix Faces Negative Decision from Senate, EA Weakness Overdone, Halliburton Boosted by Ruling
Netflix, Inc. (NASDAQ:NFLX): Pacific Crest said the H.R. 2471 bill that would allow Netflix integration with Facebook was discussed in the Senate Judiciary Committee and did not pass the Senate. The firm said the Committee will discuss the bill further next week but its less likely to be passed in its current form and is a slight negative for Netflix.
Electronic Arts Inc. (NASDAQ:EA): Pacific Crest said recent weakness in Electronic Arts is overdone and that the Street is underestimating StarWars sales and subscriber numbers.
Halliburton Company (NYSE:HAL): FBR Capital said, as expected, Judge Barbier ruled that BP (NYSE:BP) must indemnify Halliburton (NYSE:HAL) for compensatory damages for the subsurface discharge during the Macondo oil spill. Halliburton is still liable for punitive damages and government fines but the firm notes Halliburton is not an owner or operator of a vessel or facility and that appears fines will be limited to discharges from their equipment on the rig. The firm said the ruling removes an overhang and reiterates its Outperform rating.
CEVA Inc. (NASDAQ:CEVA): Benchmark Co. attributes CEVA’s weaker than expected Q1 guidance to soft industry conditions, but believes the company CEVA and its licensees remain well positioned to take cellular baseband market share over the next two years. The firm reiterates a Buy rating on CEVA with a $36 price target following the company’s Q4 results. After CEVA reported stronger than expected Q4 results but provided lower than expected 2012 revenue guidance, Cantor believes that the company’s 2012 and 2013 outlook continues to improve. The firm recommends buying the stock on weakness.
Polypore International Inc. (NYSE:PPO): Capstone said LG Chem will not have a plant up until mid-2013. JP Morgan recommends staying on the sidelines on Polypore until there is further clarity of the LG Chem integration of their battery separator to their regular business.
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