Consumer Biz Recap: Netflix and Hulu THREATEN Cable, Wendy’s Goes MODERN
Here are Wednesday’s top consumer business stock stories:
Xerox (NYSE:XRX) acquires the United Kingdom firm WDS, in a merger that should bring a cloud-based platform for the wireless industry into its fold. Financials of the transactions have not been disclosed.
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Internet content suppliers such as Netflix (NASDAQ:NFLX) and Hulu (NASDAQ:CMCSA) should have the popcorn and beer out, as they enjoy the ongoing bitter battle between satellite companies, cable outlets, and broadcast networks over fees, which now has escalated to the point at which major networks actually go dark. The cannibalization of pay-TV companies is an unambiguous boon to Internet entertainment providers, and NFLX’s shares are proving it.
Wendy’s (NYSE:WEN) is going high tech, after the years of a Mom and Pop image. A major remake is underway, with lounge seating, flat-screen TVs, Wi-Fi, and digital menu boards contributing to the new look. A possible rationale, other than keeping up with the tech times, is that data suggest that dine-in customers might spend more than at the drive-through.
Delta Air Lines (NYSE:DAL) shares moved noticeably up on Wednesday, even though the FAA proposes hitting the carrier with a $987,500 civil penalty over allegations that it operated jets that weren’t in compliance with regs. The incidents in question occurred in 2011 and 2012.
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