AOL, Inc. (NYSE:AOL): Shares of AOL, Inc. have been pulled back to support their ten week moving average which has ushered the stock to roughly 140% higher over the past year. However, it looks like some option traders may be bracing for a short term breach of support or are establishing portfolio protection to lock in gains. In early trading, AOL has already seen more than 6,700 puts change hands, about 16 times its average intra-day put volume. For comparison, just over 100 AOL calls have crossed the tape thus far. Plus, most of the volume transpired in one fell swoop is at the ask price of $0.85.
Netflix, Inc. (NASDAQ:NFLX): Now that Microsoft has delivered their biggest product launch since Windows 95, the company is rumored to be exploring a merger with Netflix, Inc. This is not the first time that the two firms were expected to get together. Over the past 12 months, Microsoft, Apple, Google and a number of other companies have been tied to a possible merger with Netflix. For the time being, the DVD rental and streaming video company remains an independent entity.
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Time Warner Cable Inc. (NYSE:TWC): Town Board members were told that Time Warner Cable has agreed to turn over $208,000 in unused line extension funds once a new, ten year contract receives state Public Service Commission approval. The money was discussed during a board session, where officials said that the amount could grow larger because it will take about six months for the approval process to be completed. “The fund is still going to get $3,000 or $4,000 a month in it, so that is why you probably can put $230,000 (in the town budget) and say that’s what we’re going to get sometime next year,” town Public Access Commission member David Lent said. The fund was established in 1995 under a ten year franchise agreement and has continued in the past two years since that contract expired.
CBS Corporation (NYSE:CBS): According to the Wall Street Journal, Sumner Redstone said his daughter, Shari Redstone, could succeed him as the overseer of his controlling interests in Viacom (NYSE:VIAB) and CBS Corporation (NYSE:CBS). That would be counter to the conventional wisdom that Viacom’s Chief Executive Officer, Philippe Dauman, was assured of that role.
SIRIUS XM Radio Inc. (NASDAQ:SIRI): Sirius XM Radio Inc. continues to beat its own subscriber guidance, a trend that we have seen for the past few quarters. Earlier this month, Sirius XM reported a gain of 446,000 net subscribers in the third quarter of 2012 and raised their full year guidance to 1.8 million net additions.
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