Netflix Analyst Sees $105 Ahead and 4 Media Titans Making Waves
AOL, Inc. (NYSE:AOL): According to Reuters, a three-judge panel of the 2nd United States Circuit Court of Appeals in New York have rejected unpaid bloggers’ bids to restore a lawsuit claiming that AOL, Inc. owes them $105 million of the $315 million that the company paid last year to buy The Huffington Post. The bloggers contend that they were tricked into supplying free content to the newspaper.
Netflix, Inc. (NASDAQ:NFLX): Morgan Stanley raised their price target on Netflix Inc. from $80 to $105 on Wednesday morning. In a note before the opening bell, analyst Scott Devitt kept his overweight, or buy, rating on the stock and noted his belief that the online movie provider is, “on course to potentially disrupt the long-standing premium cable ecosystem.”
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Coinstar, Inc. (NASDAQ:CSTR) has appointed Tad Larsen as Chief Accounting Officer, effective Dec. 16. Larsen succeeds Saul Gates who has left Coinstar to serve as Chief Financial Officer at another company effective Dec. 14.
Viacom, Inc. (NYSE:VIA): According to Bloomberg, Viacom, Inc. was ordered by a judge to turn over $12 million in payment to former investors in Harmonix Music Systems, the makers of the video game Rock Band that was acquired by Viacom back in 2006.
SIRIUS XM Radio Inc. (NASDAQ:SIRI) and Hyundai Motor America announced a collaboration that extends SiriusXM’s relationship with Hyundai for three years. This includes a provision for further extension through August of 2017. All Hyundai customers will receive a 3-month SiriusXM subscription with the purchase of any new Hyundai vehicle that has a factory-equipped satellite radio.