Zillow Tanks, AOL Surprises, Another Netflix Rival: Afternoon Buzzers
Dish Network (NASDAQ:DISH) After taking a beating on Monday, Dish shares are up over 2.47 percent Tuesday afternoon. Revenue fell 2.2 percent year over year to $3.52 billion, while earnings per share came in at a loss of $0.35. The company lost 19,000 subscribers while the cost to acquire new subscribers rose 15 percent. Dish’s difficulties are likely compounded by a number of ongoing lawsuits it is involved in regarding content licensing and it’s Hopper DVR.
Online real estate brokerage Zillow (NASDAQ:Z) is having a bad day. Shares dropped as much as 19 percent on news that the company lowered its fourth-quarter guidance. Third-quarter revenue increased 67 percent to $31.9 million year over year, and is expected to remain flat or even drop in the fourth quarter. The company also announced it will be acquiring a software firm called Mortech.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
AOL (NYSE:AOL) surprised investors with a third-quarter win, posting a 7 percent year-over-year increase in advertising revenue and climbing as much as 15.50 percent in afternoon. Search and contextual revenue is up 8 percent, while unique visits grew 4 percent for the quarter. EPS came in at $0.22, compared to a loss of $0.02 for the quarter a year ago. Revenue remained flat at $531.7 million. There might be a turn-around story for the company yet.
Amazon (NASDAQ:AMZN) seems to be gearing up to compete more directly with Hulu and Netflix (NASDAQ:NFLX) by testing a $7.99-per-month video streaming subscription service. Shares of Netflix are down about 1.98 percent Tuesday afternoon. Amazon was pegged as a possible buyer for Netflix.
Don’t Miss: Did the Roof Just Cave in on Zillow?