Netflix (NASDAQ:NFLX): Netflix has announced the launch of Netflix Families in the United Kingdom, with family summer entertainment as its target. The new service will fill the Netflix queues with trusted recommendations of popular family TV shows and movies, information on the best ways to stream, and videos about how other families use Netflix.
Tesla Motors (NASDAQ:TSLA): Following a disappointing loss in its legal fight with Texas, North Carolina is the next state in line to challenge Tesla’s unique direct sales model, that bypasses the traditional dealer channel. Despite a broad show of public support for Tesla’s direct sales model, dealer associations have entrenched their model within state legislation that would force the electric carmaker to adhere to the dealership model.
Rio Tinto (NYSE:RIO): Minmetals, a state-owned Chinese mining firm, has taken an interest in Rio Tinto’s 59 percent stake in Iron Ore Co. of Canada. Active pursuit of a deal would depend on various factors such as partners, President Wang Jionghui told The Wall Street Journal. “We have invested in the neighborhood before,” he said. The stake could be worth as much as $4 billion.
Hormel Foods Corporation (NYSE:HRL): Shares are down over 4.5 percent after the company adjusted its projections for profitability this year, dropping its EPS outlook range to $1.88-$1.96 from the previous guidance of $1.93-$2.03. Higher input costs, soft retail sales, and slower than expected pork production results were factors cited for the changes.
Royal Dutch Shell (NYSE:RDSA): Shell is leading a consortium of companies to develop Iraq’s Majnoon oilfields, with first production expected in July. Total output is projected to be 175,000 barrels per day by the end of the year, according to the top energy advisor to Iraq’s Prime Minister.