Market Currents

• Tuesday, November 24, 2009

• 12:38 PM Netflix (NFLX) downgraded to underperform with a $50 target by Wedbush Morgan, as shares that have more than doubled this year reflect growth expectations "well above what can be reasonably expected." Shares -2% to $59.18, off from last week's all-time high of $61.65. 1 Comment

• Thursday, October 22, 2009

• 16:19 PM Netflix (NFLX): Q3 EPS of $0.52 beats by $0.06. Revenue of $423M (+3.6%) vs. $420M. Subscriber acquisition cost $26.86 per addition vs. $32.21 a year ago. Churn was 4.4% vs. 4.2% a year ago. Shares -3.8% AH. (PR) Comment!
• 00:10 AM Notable post-market earnings: AMZN, AXP, BNI, BRCM, BUCY, CA, CAKE, CB, COF, CPWR, DDR, ELX, EMN, INFA, JNPR, LEG, LSCC, NFLX, PMCS, RMBS, RVBD, SNV, SPWRA, SYNA, WDC, WFR Comment!

• Wednesday, September 16, 2009

• 07:57 AM Facing heavy competition from NetFlix (NFLX) and Redbox (CSTR), Blockbuster (BBI) plans to close up to 40% of its stores over the next two years in a move it says will boost profitability and save $26M in working capital. Comment!

• Thursday, July 23, 2009

• 16:33 PM Netflix (NFLX): Q2 EPS of $0.58 beats by $0.08. Revenue of $409M (+21%) vs. $410M. Sees Q3 EPS of $0.39-0.47 vs. $0.45. Sees Q3 revenue $416M-422M vs. $418M. Raises FY09 EPS guidance to $1.65-1.82 (from $1.56-1.72) vs. $1.72. Raises FY09 revenue view to $1.65B-1.67B (from $1.63B-1.67B) vs. $1.66B. Shares +3.1% AH. (PR) 1 Comment
• 00:10 AM Notable earnings after Thursday's close: AMP, AMZN, AXP, BIDU, BLUD, BNI, BRCM, BUCY, CA, CAKE, CB, CENX, CNW, COF, COG, CPWR, DDR, DDUP, EMN, FII, INFA, JNPR, KLAC, LEG, MSFT, NFLX, PMCS, RFMD, RMBS, RVBD, SNV, SPWRA, STAR, TCO, WFR, WRE Comment!

• Monday, July 13, 2009

• 15:43 PM Netflix (NFLX) now up 5.3% as talk about an Amazon (AMZN) buyout continues to swirl, though many are pointing out it's unlikely considering Amazon would have to pay sales taxes for Netflix distribution centers, and it's already got its hands full of tax battles. Comment!
• 10:21 AM Keeping an eye on Netflix (NFLX +2.4%), which has jumped on renewed rumors of a possible bid. Amazon.com (AMZN) mentioned as having a serious interest. Comment!

• Tuesday, June 23, 2009

• 15:42 PM Despite being one of the recession's few success stories, Netflix (NFLX) CEO Reed Hastings thinks his core business of mailing DVDs is doomed. He hopes to transition NFLX into growth areas like online video, but concedes the reinvention is fraught with risk: "Almost no companies succeed at what we're doing." 2 Comments

• Monday, June 22, 2009

• 08:47 AM Upstart movie-kiosk firm Redbox is giving Netflix (NFLX) a run for its money. (see also) Comment!

• Wednesday, June 17, 2009

• 14:56 PM Netflix (NFLX) up 7.5% after Wedbush upgrades to Buy and Citigroup reiterates its Buy. If monthly subscriber churn is as expected, Lazard sees NFLX leaving Q2 with 10.7 million subscribers, vs. expected 10.4 million to 10.6 million. Comment!

• Monday, May 18, 2009

• 15:45 PM Netflix (NFLX), with a rating of 85%, and Amazon.com (AMZN) at 84%, led all retailers in ForeSee's yearly Top 100 Online Retail Satisfaction Index. Apple (AAPL) slid 6% to 75%, and now trails Dell (DELL). Not surprisingly, price played a bigger role in overall satisfaction this time around. Comment!

• Sunday, May 17, 2009

• 09:40 AM A recent spat over surprisingly successful video kiosks could have negative implications for Netflix (NFLX), Eric Savitz says. Comment!

• Tuesday, April 28, 2009

• 13:18 PM The new kids on home-entertainment block continue to grow rapidly. Blu-Ray sales more than doubled in Q1, and digital downloads rose 19% - great news for Sony (SNE), Netflix (NFLX) and Blockbuster (BBI). Meanwhile traditional DVD sales fell 14%; Time Warner (TWX) and Viacom (VIA), which report this week, both rely heavily on DVD sales. Comment!

• Monday, April 27, 2009

• 10:32 AM DVD merchants say business is booming as more consumers opt for a more reasonable film by the fireplace. Could be bullish for Best Buy (BBY). More so for Netflix (NFLX) and Blockbuster (BBI). Comment!

• Friday, April 24, 2009

• 09:02 AM Premarket gainers: DDR +34%. F +24%. RVBD +13%. CAKE +13%. RAD +12%. INFA +11%. STAR +10%. AXP +9%. JNPR +8%. HMY +7%. TS +6%. GFI +6%. SLB +6%. LVS +5%. FIG +4%. FIG +4%. MSFT +4%. TOT +4%.
  Losers: UCBH -19%. IBKR -15%. CPN -9%. CYBS -8%. MAR -4%. ACI -4%. NFLX -3%. VOD -3%. SD -3%. Comment!