Smith & Wesson Holding Announces Repurchase and 3 Hot Stocks to Follow
SeaWorld Entertainment Inc, a leading theme park and entertainment company owned by the Blackstone Group (NYSE:BX), has filed Form S1 notifying its intention to make an IPO aggregating $100 million that includes shares being sold by the company as well as certain selling shareholders. The proceeds of the issue will be used by the company to redeem a portion of its Senior Notes debt as well as general corporate purposes.
Amazon.com’s (NASDAQ:AMZN) servers reported a technical glitch on Christmas Eve that affected video streaming firm Netflix (NASDAQ:NFLX) and other customers such as social media company Scope and software developers Heroku Inc. In the case of Netflix, the outage lasted for over half a day and affected millions of its customers across many countries. The problems occurred at Amazon’s Web Services (AWS) unit and its operations in Northern Virginia. No explanation for the glitch has yet been offered by Amazon, though details are expected in the next few days, according to a spokeswoman. Irate customers, complaining that this seems to be happening more often lately, are considering developing alternatives to AWS.
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Smith & Wesson Holding Corporation (NASDAQ:SWHC) announced its plans to repurchase an additional $15 million worth of common stock by June 30, 2013. The additional amount has been authorised by the board after the company exhausted the $20 million stock repurchase program that was announced on December 6, 2012. The company plans to fund the repurchases using cash on hand and working capital.
The Wall Street Journal reports that Nokia Corp’s (NYSE:NOK) Lumia smartphones are being sold at discounts post the holiday season. The high-end Lumia 920, originally offered at $99, can be bought on Amazon.com for $39, provided the buyer agrees to an AT&T contract. The Lumia 822, which also featured a pricetag of $99 originally, may now be had free with a Verizon contract. The Lumia 810 is also being offered free, though bundled with a contract by T Mobile USA Inc. The discounting, coming so quickly after their launch, may raise questions about the demand for these phones.
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