The Buzz
Netflix gets new rival, shares rally
December 12, 2012: 1:07 PM ET
Netflix has more competition, but investors seem to think that the streaming video market is big enough for both of them.
Coinstar, the parent of Redbox, and Verizon (VZ) said Tuesday that they had reached an agreement with movie studios and device makers to "bring thousands of popular movies to consumers at home and on the go."
The joint venture, called Redbox Instant, will cost $8 per month, which is what Netflix happens to charge users to watch movies and TV shows online. Verizon and Redbox first announced they were working on the service earlier this year. It will finally debut later this month.
Despite the news, shares of Netflix (NFLX) rose 4% in midday trading. Coinstar (CSTR) shares were up 3%. Netflix was also getting a boost from Morgan Stanley analysts, who raised their price target on the stock to $105. The analysts said Netflix's deal with Disney (DIS) would give it an edge with studios when it was time to renew its contracts.
Related: Netflix CEO Hastings deserves SEC scrutiny
The interesting timing was not lost on StockTwits traders.
sspencer:
shocked there isn't more chatter on $NFLX today. $CSTR entering space clearly viewed as a positive for them
ivanhoff:
$CSTR launching its streaming svs is not positive for $NFLX, but the market doesn't seem to think so. Other factors in play here.
Those other factors could include a short squeeze. It doesn't hurt to have Morgan Stanley touting Netflix's virtues.
traderstewie:
$NFLX, chugging higher on big volume. Angry and ready to bust up some shorts.
Or, it could be that the chairman of the Federal Reserve is feeling generous.
JATranfo:
Looks like Bernanke and the Fed are going to buy a $NFLX subscription for every American for Christmas
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Charge it! Visa stock hits new high
Most people don't think of credit card companies as being warm and fuzzy but that's not stopping investors from buying.
Visa's stock hit a new 52-week high Tuesday and MasterCard is just shy of that mark for its stock.
It's been a long road.
Back in 2005, a group of merchants sued Visa (V), MasterCard (MA) and other credit card processors for allegedly conspiring to fix so-called swipe fees at unfairly high levels. MORE
Catherine Tymkiw - Nov 20, 2012 12:46 PM ETPosted in: at&t, Jack Dorsey, mastercard, mobile processing, payment, square, stock, T-mobile, Verizon, visa -
Deutsche Telekom in talks to buy MetroPCS
Could MetroPCS finally be getting its knight in shining armor? Investors sure think so.
Deutsche Telekom confirmed Tuesday that it was in talks with MetroPCS to merge the beleaguered wireless carrier with its T-Mobile USA unit.
MetroPCS has been bleeding subscribers. But it has a nice cash cushion. At the end of the second quarter, MetroPCS had $2.3 billion of cash and cash equivalents, and short-term investments. That's nothing to sneeze MORE
Catherine Tymkiw - Oct 2, 2012 12:35 PM ET -
No iPhone 5 love for Verizon and Ma Bell
In a classic case of be careful what you wish for, shares of AT&T (T) and Verizon (VZ) both tumbled more than 2% Friday morning even though pre-orders for Apple's (AAPL) eagerly anticipated iPhone 5 sold out in under an hour. Meanwhile, Apple hit another all-time high and continued its march toward $700.
Why are investors dumping Big Red and Ma Bell? My colleague David Goldman has already explained how the MORE
Paul R. La Monica - Sep 14, 2012 11:27 AM ET -
RadioShack sinks to all time low
Investors have plenty of questions about the future of RadioShack following a dismal earnings report, but the electronics retail is still claiming to have the answers.
As it delivered a surprise $21 million loss for the second quarter, RadioShack (RSH) said it would also suspend its dividend program to help bolster its balance sheet. A balance sheet that's saddled with $679 million of debt, including an upcoming debt maturity of $375 MORE
Hibah Yousuf - Jul 25, 2012 12:25 PM ET -
Coinstar is kicking Netflix's butt
Shares of Netflix (NFLX) got off to a smoking start this year after a nightmarish 2011. But like the rest of the market (and especially momentum stocks), Netflix has come crashing back to Earth. The stock is now actually down almost 10% in 2012. Do investors think that the video market is dead?
Not necessarily.
Take a look at Coinstar (CSTR). The owner of the bargain DVD rental kiosk service Redbox is MORE
Paul R. La Monica - Jun 15, 2012 12:18 PM ET
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