Netflix Talks Next ‘Arrested Development,’ Edwards Wins German Patent Dispute, and 3 More Hot Stocks
Netflix (NASDAQ:NFLX): As the streaming service continues to pack on share gains, producer Brian Grazer says that talks have commenced regarding another season of Arrested Development. Though the show was about as warmly received as House of Cards, it has been beneficial for the company, revealed by a Cowen survey that found 28 percent of Arrested Development’s viewers saying they’re less likely to cancel their Netflix subscriptions because of it.
Edwards Lifesciences Corp. (NYSE:EW): Shares are lifting over 3 percent after the company won in a German patent infringement case. A Mannheim court says Medtronic’s (NYSE:MDT) CoreValve System infringes upon an Edwards-owned patent, removing a potential overhang for the shares. Medtronic plans to appeal the decision, and says that it won’t ”be material to…fiscal 2014 financial results.”
RadioShack Corp. (NYSE:RSH): While emphasizing its “strong” balance sheet, RadioShack acknowledged that it is in talks with investment banks. The company says it had $820 million in liquidity at the end of the first quarter, though it’s the second quarter figures that investors are after. Shares are making back some of the ground they lost yesterday, when news that the firm was seeking a bank to help with its balance sheets first broke.
ExxonMobil (NYSE:XOM): The company is planning to spend $735 million to drill two wells in the Black Sea, where the company is certain it will strike oil just off the Ukraine coast. Under the deal, Exxon will award a $335-million signing bonus for Ukraine’s government with a promise to spend a further $400 million on seismic surveys and drilling two wells.
US Airways Group (NYSE:LCC): Shareholders have officially approved the merger of the company with AMR this morning at the company’s meeting in New York. Regulators still have to weigh in about the merger, with the Department of Justice expected to rule before the end of the year over the triggered antitrust concerns.