Netflix Board Formulates Dividend Plan and 3 Hot Stocks Trading Today
Transocean Ltd. (NYSE:RIG): The company’s backlog from its ongoing operations was $29.7 billion on Oct. 17, which is a net increase of $8.3 billion, and this information was obtained from the Fleet Status Report periods for July 18 to Oct. 17.
Time Warner Cable Inc. (NYSE:TWC) claims that it does not believe that the amount of damage from Sandy will show much significance. These comments were made on the Q3 earnings conference call.
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Sysco Corp. (NYSE:SYY) claims that its SBS is ‘functioning well’. The company also says that it is making progress initiatives for lowering cost structure and reduced product costs. These comments were taken from slides to be presented on the Q1 earnings conference call.
Netflix, Inc. (NASDAQ:NFLX) board adopted a stockholder rights plan along with its declaration of a dividend distribution of one right for each outstanding share of Netflix common stock. The Rights Plan should protect Netflix and its stockholders from efforts to obtain control of Netflix via actions that the board determines are not in the best interests of Netflix and its stockholders, and it is intended to allow all stockholders to realize the long-term value of their investment in Netflix. The Rights Plan is not meant to interfere with any merger, tender, or exchange offer or other business combination that has been approved by the board. Pursuant to the Plan, Netflix will issue one Right for each current share of common stock outstanding at the close of business on November 2. More details regarding the Rights Plan will be contained in a Form 8-K that will be filed by Netflix with the SEC.
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