Redbox and Walmart Continue Their Partnership

Redbox (NASDAQ:CSTR) and Walmart (NYSE:WMT) announced today that they will extend their relationship until January 2015. It’s another move that will continue to impact DVD star Netflix (NASDAQ:NFLX).

Redbox, a unit of Coinstar, said Walmart will continue to display its budget-friendly DVD rental kiosks at more than 3,700 U.S. stores, which were first found at Walmart in 2006.

Maria Stipp, chief customer officer of Coinstar, said, “Redbox is proud to be located at America’s favorite retail destinations and to extend our relationship with Walmart.” She continued, “A key component to our success is our extensive retail footprint as it provides consumers greater access to movies and games at a low price.”

Redbox kiosks are found in more than 28,000 locations nationwide.

Here’s how these stocks are reacting to the deal:

Coinstar Inc. (NASDAQ:CSTR): CSTR shares recently traded at $50.16, up $0.28, or 0.56%. They have traded in a 52-week range of $37.43 to $60.71. Volume today was 489,532 shares versus a 3-month average volume of 1,034,010 shares. The company’s trailing P/E is 19.26, while trailing earnings are $2.60 per share.

Wal-Mart Stores Inc. (NYSE:WMT): WMT shares recently traded at $60.67, down $0.63, or 1.03%. They have traded in a 52-week range of $48.31 to $62.00. Volume today was 3,419,765 shares versus a 3-month average volume of 9,338,980 shares. The company’s trailing P/E is 12.84, while trailing earnings are $4.72 per share.

Netflix, Inc. (NASDAQ:NFLX): NFLX shares recently traded at $118.72, down $6.71, or 5.35%. They have traded in a 52-week range of $62.37 to $304.79. Volume today was 6,805,966 shares versus a 3-month average volume of 8,479,720 shares. The company’s trailing P/E is 27.87, while trailing earnings are $4.26 per share.