Consumer Biz Rewind: Netflix LOSES To Olympics, DirectTV LOSES US Subscribers

Walgreen Co. (NYSE:WAG) announces that it now owns 45 percent of Alliance Boots, subsequent to its initial investment of $4 billion, along with retaining the right to move to a full merger if it buys the remaining 55 percent of the European pharmacy business.

Netflix, Inc. (NASDAQ:NFLX) is now experiencing a big decrease in streaming usage since the start of the London 2012 Olympics last weekend. Chief Executive Reed Hastings warned that the Games would cut into the firm’s revenues, but the impact appears to be even more than first anticipated.

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DirecTV’s (NASDAQ:DTV) has suffered its first-ever decline in domestic subscribers. The decrease of 52,000 subscribers was not large in the context of the 19.91 million customers it still kept, but the firm more and more relies on Latin America to aid its results.

Historic retailer J.C. Penney & Co. (NYSE:JCP) just can not get a break. Fitch has downgraded its credit from from BB+ to BB- as the agency foresees top-line revenue as “materially negative” straight through the back-to-school and holiday seasons. As for Chief Executive Ron Johnson: “The recent revisions around the promotional stance and messaging could further exacerbate traffic trends.”

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