Trending Stocks Feb 6th: Coinstar, Netflix, Sohu.com, Lazard, HCA, O’Charley’s
Coinstar, Inc. (NASDAQ:CSTR): Netflix (NASDAQ:NFLX) is retreating after Verizon (NYSE:VZ) and Coinstar (NASDAQ:CSTR) announced that they would form a movie rental joint venture. Expected to launch in the second half of 2012, the joint venture will combine the kiosks of Coinstar unit Redbox with a new video on-demand streaming and download service from Verizon. The joint venture will also sell subscriptions, the company said. In December, there was speculation that Verizon would look to acquire Netflix. Verizon subsequently denied that it had any interest in buying Netflix, but there may have still been some speculation that such a deal could take place in the future. In addition to creating more competition for Netflix, Verizon’s deal with Coinstar may have dampened speculation about an acquisition of Netflix by the telecom company. However, Yahoo executives discussed acquiring Netflix before the latter company’s stock price rallied over the last several weeks, All Things D reported today. In early trading, Netflix declined $3.81, or 3.01%, to $122.62. Meanwhile, Coinstar (NASDAQ:CSTR) added 1.10% to $50.20. Shares of Coinstar, Inc. are trading 0.13% higher today.
Sohu.com Inc. (NASDAQ:SOHU): Sees Q1 total revenue $219M-$225M vs. consensus $238.15M. Assuming no new grants of share-based awards, Sohu estimates that compensation expenses and income tax expenses relating to share-based awards to be around $3M-$4M. The estimated impact of this expense is expected to reduce Sohu’s fully diluted EPS for Q1 of 2012 under US GAAP by 8c-10c. Shares of Sohu.com Inc. are trading 13.94% lower today.
Lazard Ltd (NYSE:LAZ): Lazard’s financial position remains strong and low risk with approximately $1B in cash and cash equivalents at December 31, 2011, the majority of which is invested in U.S. Government and agency money market funds. Shares of Lazard Ltd are trading 5.23% lower today.
HCA Holdings Inc (NYSE:HCA): Reports Q4 revenue $7.77B vs. consensus $8.42B. EPS includes a pretax gain on the acquisition of a controlling interest in an equity investment of $1.522B or $3.13 per diluted share, and pretax gains on sales of facilities of $145M, or 18c per diluted share Shares of HCA Holdings Inc are trading 5.33% higher today.
O’Charley’s Inc. (NASDAQ:CHUX): Fidelity National Financial (NYSE:FNF), a leading provider of title insurance, mortgage services and diversified services, today announced the signing of a definitive agreement to acquire all of the outstanding common stock of O’Charley’s (NASDAQ:CHUX) that it does not currently own for $9.85 per share in cash. FNF currently owns 2,079,542, or 9.5%, of the outstanding shares of common stock of O’Charley’s, which operates more than 340 full-service restaurants under the O’Charley’s, Ninety Nine and Stoney River concepts. Under the terms of the definitive agreement, FNF intends to commence a tender offer for all of the outstanding shares of common stock of O’Charley’s that it does not currently own on or about Feb. 24. The initial tender is expected to expire on April 2, and to close shortly thereafter, assuming that shares that, combined with FNF’s existing 9.5% ownership stake, represent more than a majority of the outstanding shares of O’Charley’s are properly tendered and not withdrawn. Closing of the tender is also contingent on customary closing conditions, including the expiration of the HSR waiting period. The back-end, cash-out merger under Tennessee law is expected to take place no earlier than May 2, and is also subject to customary closing conditions, including the successful completion of the tender offer. Shares of O’Charley’s Inc. are trading 42.12% higher today.
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