Consumer Business Recap: FedEx and UPS Fall, Netflix Pushes Disney and Viacom
Shares of Strayer Education (NASDAQ:STRA) move higher following its in-line first quarter report, featuring an announcement that its student enrollment increased for the first time in more than a year.
FedEx (NYSE:FDX) stocks slump in reaction to its rival UPS’ (NYSE:UPS) disappointing first quarter release. A disturbing factor for both firms is the reduction of international shipments, due to relocation of factories closer to their home bases.
Safeway (NYSE:SWY) puts a damper on rumors that it wants to sell itself, and shares fall in response. CEO Steve Burd, via a conference call, explained that recent repurchases of shares and modifications in executive options contracts were not tied to any remake of the company to attract buyers.
Investing Insights: OUCH! Starbucks Earnings Miss the Mark.
Netflix’s (NASDAQ:NFLX) streaming service reduced first quarter ratings for Disney’s (NYSE:DIS) and Viacom’s (NYSE:VIA) children’s programming, says analyst Sanford Bernstein. Subsequently, the firms must now decide whether to pull the kids’ shows, or to cash in on the extra 75 million annually that the current arrangement yields.
More woes for Avon Products (NYSE:AVP) on Thursday, as it confirms that, Kerry Carr, its vice president of global supply chain finance has departed, said to be because of a bribery scandal that has focused on the company’s business in China.