Time Warner Increases Converter Box Fee and 4 Media Titans Making Waves
Coinstar (NASDAQ:CSTR) shares are rebounding from year-to-date lows seen in the wake of an earnings letdown. At this point, the stock is on track to finish the week at the top of its 10-week moving average for the first time since mid-July. In addition, it seems that one options trader is betting on short-term support for the kiosk concern. Thus far, Coinstar has seen about 3,900 puts cross the tape, which exceeds by more than four times its average intraday put volume, and about nine times the number of Coinstar calls exchanged. The out-of-the-money December 45 put has been very active, which saw a block of 2,000 contracts transfer at the bid price of $1.95 each, which implies that they were sold. Additionally, with fewer than 400 puts open at the back-month strike, it may be assumed that the trader is writing the puts to open.
Time Warner Cable (NYSE:TWC) ups its monthly fee for subscribers for converter box rentals by $1.05 a pop to $10, but a spokeswoman for the firm said that rates will not change for standard and digital cable television services. The rate hike will take effect in November, and was included in a notice to Time Warner Cable subscribers in their latest bills. Actually, a $1.05 per month increase is small in the historical scheme of cable-rate increases, but any rate increase is being imposed in the context of cable entities facing rising competition for subscribers.
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CBS Corporation (NYSE:CBS) and Netflix (NASDAQ:NFLX) have reached an extension of their international licensing arrangements to stream select CBS shows in the United Kingdom and Ireland, Canada, and in Latin America. Figures for the deals were not reported. President and Chief Executive of the CBS Global Distribution Group Armando Nuez commented that, “Netflix is a great partner and this has been a mutually beneficial relationship that has helped grow our respective businesses.”
Comcast Corporation (NASDAQ:CMCSA) has grown hugely in size during David Cohen’s decade at the firm via a series of mergers that he has guided through government approvals. Currently enjoying $58 billion in annual revenue, the Philadelphia-based company is the nation’s largest supplier of broadband Internet and cable television and also the owner of a movie studio, network television programs, and nationwide broadcast stations. Any firm that conducts business in media or tech meets up with Comcast and typically arrives with hat in hand, keen on reaching the cable giant’s 22 million customers.