AOL Faces Motion from Vringo and 4 Media Titans Making Waves
AOL, Inc. (NYSE:AOL): Vringo shares have traded up after the company gave a summary of three motions that were filed with the court last night in its wholly-owned subsidiary I/P Engine against AOL, Google (NASDAQ:GOOG), IAC Search & Media (NASDAQ:IACI), Gannett Company (NYSE:GCI), and Target Corporation (NYSE:TGT). During mid-day trading, Vringo shares saw a 5.5 percent rise, or 17c, to $3.25.
Netflix, Inc. (NASDAQ:NFLX): A bill that would allowing video rental history to be shares is backed by Netflix, and yesterday, it passed the U.S. House of Representatives in a vote, according to AllThingsD. The publication adds that Netflix went through the same exercise the year before, and the bill was unable to make it out of Congress.
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Time Warner Cable Inc. (NYSE:TWC) will remove the Ovation arts TV channel from its lineup, beginning on December 31, according to the Wall Street Journal. CEO Glenn Britt stated earlier in the month that the cable operator will begin to drop channels that “cost too much relative to the value of the service.” According to the company, Ovation is “among the poorest performing networks” carried by the operator.
Dish Network Corp. (NASDAQ:DISH) has stated that its subsidiary, DISH DBS Corporation, has intentions to continue its offering, subject to market and other conditions, of its senior notes. The offering’s net proceeds will likely be used for general corporate purposes, possibly including spectrum-related strategic transactions.
SIRIUS XM Radio Inc. (NASDAQ:SIRI): James Meyer is to succeed Mel Karmazin. Karmazin informed the board that he has not intention of renewing his current employment agreement. Meyer has been President of Sales and Operations since May 2004.
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