Netflix (NASDAQ:NFLX) is surging 10% in early trading. The entertainment company announced it will cancel plans to spin of its dvd business and name it Qwikster. The company will keep the controversial price hike, though. Netflix faces increased competition from Dish Network (NASDAQ:DISH) and Amazon (NASDAQ:AMZN).
Shares of Apple (NASDAQ:AAPL) are more than 2% higher as the company reports strong pre-order sales on its new iPhone 4S. According to a statement, Apple received a record one million iPhone 4S pre-orders in the first day. The head of marketing, Phil Schiller said, “The first day pre-orders for iPhone 4S have been the most for any new product that Apple has ever launched and we are thrilled that customers love iPhone 4S as much as we do.” Apple competes with Google (NASDAQ:GOOG), Hewlett-Packard (NYSE:HPQ), and Research in Motion (NASDAQ:RIMM).
Super Hot Feature: Apple Cheat Sheet: iPhone Event Recap.
Shares of Scotts Miracle-Gro (NYSE:SMG) are getting whacked 10.50% before the opening bell. The company reduced its earnings view for the year, pointing to an unexpected decline from last year. “While we were counting on another strong fall lawn care season, the weather issues that plagued us throughout fiscal 2011 remained problematic during the fourth quarter,” said Chief Executive Jim Hagedorn.
Starbucks (NASDAQ:SBUX) is trading nearly 2% higher as the company plans a joint India venture with Tata Coffee. The venture is a move to increase global sales in the growing economy of India. The company also competes with Green Mountain Coffee Roasters (NASDAQ:GMCR), McDonald’s (NYSE:MCD), and Dunkin’ Brands (NASDAQ:DNKN).