Services Sector Review: Netflix Settlement, TiVo and AT&T Agreement
R.R. Donnelley & Sons Co. (NASDAQ:RRD) announced that it has been awarded a multi-year multi-million dollar agreement by Office Depot (NYSE:ODP). Under the terms of the agreement, which renews and expands the companies’ relationship, RR Donnelley will provide a range of production and related services for catalogs and direct mail.
The shares closed at $21.33, up $6.87, or 47.51%, on the day. Its market capitalization is $4.38 billion.
Netflix, Inc. (NASDAQ:NFLX): On February 10, Netflix filed its 2011 Form 10-K, which includes an update to the financial results for the year ended December 31, 2011 reported on the Company’s Form 8-K dated January 25, 2012. This update resulted from a legal settlement agreed to subsequent to reporting the Company’s 2011 results. Subsequent to January 25, 2012, the Company engaged in mediation of a legal claim pending in the Northern District of California made in January 2011 related to our compliance with the Video Privacy Protection Act. This mediation resulted in a settlement of the matter which includes payment of $9M recognized as an expense in the Consolidated Statement of Operations for the year ended December 31, 2011, and which is anticipated to be paid in 2012. The settlement is subject to court approval.
The shares closed at $118.30, down $5.63, or 4.54%, on the day. Its market capitalization is $6.55 billion.
Amazon.com, Inc. (NASDAQ:AMZN): Barnes & Nobles (NYSE:BKS) and Indigo Books & Music, a large Canadian chain, are refusing to sell books from Amazon’s (NASDAQ:AMZN) publishing division in their stores, the Financial Times reports. The chains object to Amazon’s push to sign exclusive deals with authors that prevent other retailers from selling digital versions of their books.
The shares closed at $191.59, up $6.05, or 3.26%, on the day. Its market capitalization is $87.19 billion.
Google Inc (NASDAQ:GOOG): In India, the government is investigating whether the local units of Google (NASDAQ:GOOG) and Yahoo (NASDAQ:YHOO) may have violated its foreign exchange laws, reports the Wall Street Journal.
The shares closed at $612.20, up $6.29, or 1.04%, on the day. Its market capitalization is $199.05 billion.
AT&T Inc. (NYSE:T): TiVo Inc. (NASDAQ:TIVO) announced it has entered into a licensing agreement with AT&T AdWorks, a digital media company within AT&T (NYSE:T), which will enable TiVo to improve elements of their research and advertising inventory offerings by incorporating anonymous and aggregate AT&T U-Verse and TiVo households viewing data.
The shares closed at $30.04, up $0.2, or 0.67%, on the day. Its market capitalization is $178.05 billion.
Verizon Communications (NYSE:VZ): Cablevision (NYSE:CVC) ran a limited time promotion under which it offered a triple-play bundle of phone, TV and high-speed Internet service to new customers for just $69.95 a month, as the company tries to stem subscriber losses and undercut rival Verizon’s (NYSE:VZ) FiOS TV service, according to The New York Post.
The shares closed at $38.13, up $0.44, or 1.17%, on the day. Its market capitalization is $108.06 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.