Netflix SLIPS After Amazon’s Announcement and 4 Media Titans Making Waves
Netflix, Inc. (NASDAQ:NFLX) falls following Amazon.com’s (NASDAQ:AMZN) announcement that it signed a deal for the addition of thousands of EPIX movies to its Amazon Prime streaming service. Beneath the deal, Amazon, who competes with Netflix, will allow Prime users to access movies from Viacom’s (NYSE:VIA) Paramount Pictures, Metro-Goldwyn-Mayer Pictures, and Lionsgate (NYSE:LGF), Amazon stated. Previously, Netflix had an exclusive deal to receive content from EPIX, but the agreement has expired. Netflix users will continue to possess the ability to access EPIX movies, and Amazon’s deal was not unexpected, states CNET. In early trading, Netflix sank $5.56, or 9.31%, to $54.16. Amazon, meanwhile, added 0.80% to $250.25. The shares traded down $3.76 (6.29%) recently at $55.96.
Walt Disney Co. (NYSE:DIS): Although there are hits like “Avengers” and “The Dark Knight Rises,” the summer box office saw a drop of almost 3 percent to $4.3 billion versus the same period from May to Labor Day in 2011, with attendance falling nearly 4 percent to 533 million, according to The Los Angeles Times, citing figures from Hollywood.com. The shares traded up $0.31 (0.63%) recently at $49.78.
Comcast Corporation (NASDAQ:CMCSA): Families with a minimum of one child receiving free or reduced price school lunch are now eligible for a Comcast program offering broadband Internet access for lower than $10 a month. The Comcast program, named Internet Essentials, is in its second year and has become part of a larger, industry-wide effort to increase high-speed Internet access among low-income families. The monthly rate has been locked in and participants will not need to pay activation or equipment rental fees. Also, Comcast also offers digital literacy training materials. The shares traded up $0.03 (0.09%) recently at $33.56.
Viacom, Inc. (NYSE:VIA): Pivotal Research Group has begun coverage of cable programmers Viacom and Discovery, stating that the former stock is undervalued and the latter is about right. Additionally, the financial adviser upgraded its target price for CBS stock, suggesting that the government will keep valuing over-the-air service. Pivotal senior research analyst Brian Wieser gives Viacom a “buy” rating, and gives its stock a per-share target price in 2013 of $73, a huge 46 percent above last week’s close. The shares traded down $0.40 (0.79%) recently at $50.00.
SIRIUS XM Radio Inc. (NASDAQ:SIRI): Investors like recent announcements by Sirius XM Radio about redeeming debt. In September, the redemptions are $186.1 million of its 9.75 percent debt on September 1st and $681.5 million of its 13 percent debt on September 20th. The shares traded unchanged recently at $2.53.
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