Netflix BILLION HOURS and 4 Media Stocks Creating Market Waves
News Corp.’s (NASDAQ:NWSA) third largest shareholder, Kevin Holt, a senior fund manager at Invesco, stated that in a “perfect world,” Rupert Murdoch would allow Chase Carey to ascend to CEO of the company’s new media and entertainment wing and himself move up to the chairman’s seat, according to the Telegraph. What will happen is Carey will become COO of the media and entertainment business, with Murdoch staying in his roles of chairman and CEO. Shares of NewsCorp traded down $0.12 (0.53%) recently at $22.73.
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SIRIUS XM Radio Inc. (NASDAQ:SIRI): Maxim predicts June American auto sales will turn in a SAAR of more than 14M, and that the number will be a boon to Sirius’ stock. More than that, Maxim believes the stock saw a technical bottom and “breakout” on Monday, and it reiterates a Buy rating on the shares. Sirius shares traded up $0.05 (2.77%) recently at $2.04.
AOL, Inc. (NYSE:AOL) promoted CFO Arthur Minson to Chief Operating Officer, a new role in which he will restructure AOL’s operations into three units. Shares of AOL traded up $0.30 (1.06%) recently at $28.71.
Netflix, Inc. (NASDAQ:NFLX) reports that members viewed over 1B hours of movies and TV shows online in June, a new record for the subscription video service company. Shares of Netflix were up 6.18 percent.
Coinstar, Inc. (NASDAQ:CSTR), which owns the Redbox movie retail kiosks, ascended to an all-time closing height thanks to eagerness for a coming DVD expansion plan and streaming agreement with Verizon Communications (NYSE:VZ). Coinstar rose 2.6 percent to $70.46 at the close in New York, its highest point seen since the company started trading in 1997. Its stock has risen 54 percent in 2012. Shares traded up $1.81 (2.64%) recently at $70.46.
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