Lawsuits, Airlines, and a New Cup of Coffee: Afternoon Buzzers
Stock futures are edging up before the bell on Thursday, after closing down over 2 percent across the board on Wednesday.
Initial jobless claims for the week ending November 3 were 355,000, a drop of 8,000 from the week before. The four-week moving average came in at 370,500, an increase of 3,250 from the week before.
Fox Broadcasting (NASDAQ:NWSA) was reportedly denied its preliminary bid to block the AutoHop ad-skipping feature on Dish Network’s (NASDAQ:DISH) Hopper DVR. Fox will appeal the decision. With other major content providers engaged in separate lawsuits claiming that the technology will destroy the current television ecosystem, the issue is far from resolved.
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A judge in Argentina has reportedly ordered the seizure of Chevron (NYSE:CVX) assets in the country. Chevron lost an appeal to the United States Supreme Court to block a $19 billion judgement against the company levied by the Argentine court for environmental damages.
United Continental (NYSE:UAL) is calculating the cost of hurricane Sandy, just as the first winter storm of the season blows through the East Coast. Preliminary results put revenue loss at $90 million on 5,300 cancelled flights.
Green Mountain Coffee Roasters (NASDAQ:GMCR) is getting some much-needed love in the market, coming up as much as 4 percent on news that it will be developing an at-home espresso machine called the Keurig Rivo. The machine puts pressure on the company’s relationship with Starbucks (NASDAQ:SBUX), which recently launched its Verismo espresso machine. The launch of the Verismo and the expiration of coffee-pod patents took a sizable bite out of GMCR’s stock price.
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