Tech Biz Cheat Sheet: Netflix and Amazon Marry Disney, Sohu Tanks Internet Stocks
Netflix, Inc. (NASDAQ:NFLX) shares some positive news for its subscribers through an extended licensing agreement with The Walt Disney Company (NYSE:DIS) . The company will continue streaming TV shows on the web and expand content from popular Disney-ABC shows and TV movies including Switched at Birth and Alias.
Amazon.com Inc. (NASDAQ:AMZN) had their own dose of Disney (NYSE:DIS) love today when it signed a deal to add 800 titles to its Prime Video. Amazon will have access to numerous popular TV shows from ABC Studios, Disney Channel, ABC Family and Marvel.
The deal comes at a good time as Amazon prepares to launch its Kindle Fire tablet in two weeks, which will feature a free 30-day Prime Video trial.
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Sohu.com (NASDAQ:SOHU) reported its third quarter earnings per share missed analysts estimates by $0.01 with a $1.26 number. Revenue jumped 41.9 percent to $233 million from the previous year. This beat estimates by $5 million. Investors are focused on the missed earnings per share number; however, Sohu has a good fourth quarter guidance with expected revenue between $241 million to $246 million (a forecast of $235.8 million). Earnings per share is looking at $1.30 to $1.35 (a forecast of $1.25).
Changyou.com (NASDAQ:CYOU) tanked on news for its in-line fourth quarter guidance. The company projects revenue between $122 million and $125 million ($123 million consensus) with earnings per share from $1.09 to $1.12 ($1.10 consensus). It wasn’t all gloom and doom for the third quarter earnings report with a 39 percent revenue jump from the previous year to $119 million (beating estimates by $1.5 million) and earnings per share of $1.01 (beating estimates by $0.02).
AT&T (NYSE:T) customers will have a chance to enjoy 4G LTE speeds beginning on Sunday, Nov. 6. The company will launch two new 4G phones, available in stores and online. The 4G LTE network will initially hit nine markets including Atlanta, Chicago, Dallas-Fort Worth, Houston and San Antonio with further expansion to 15 markets and 70 million Americans by the end of the year.
Named HTC Vivid and Samsung Galaxy S II Skyrocket, the phones will enable the company to catch up to rival Verizon (NYSE:VZ), which started offering LTE phones earlier in the year.
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