Tuesday, September 4, 2012

Netflix, Inc. (NASDAQ:NFLX) Slumps 10% - GME, NFLX, BPAX, HOS, LDK

GameStop Corp. (NYSE:GME) shares climbed 4.93% to $20.03 in the early hour after Goldman Sachs upgraded GameStop shares from Neutral to Buy with a price target of $25.00 (from $20.00). Separately, GME‘s stock had its “buy” rating reaffirmed by Sterne Agee in a research note issued last week. They currently have a $30.00 price target on the stock.

Should Investors Buy GME Now? Find Out Here

Additionally, GameStop customers can purchase digital, web-access Prima eGuides at GameStop retail locations. The new program, “Buy In-Store, Redeem Online,” launches with an exclusive Madden NFL 13 tournament bundle. This exclusive GameStop eGuide bundle includes two tournament-level eGuides (offense and defense). Regularly priced at $39.99, GameStop customers can get the bundle for only $19.99.

Netflix, Inc. (NASDAQ:NFLX) shares declined 9.70% to $53.93 in the morning hour on news of Amazon's (AMZN) deal with Epix. Since the expiration of the Starz deal, Epix has been Netflix's top source for popular movies. And while the loss of Epix exclusivity was expected, the fact Netflix's top rival now has access to Epix's library is stoking fears the company won't be able to stand out. At $79/year (bundled with Prime shipping), Amazon's Prime Instant Video is cheaper than Netflix on an annual basis, but doesn't offer a monthly option.

Can NFLX Bounce Back After Today’s Slump? Find Out Here

Biosante Pharmaceuticals Inc (NASDAQ:BPAX) stock climbed 6.76% to $1.58 after the company announced that the independent Data Monitoring Committee (DMC) has completed the ninth unblinded review of the LibiGel Phase III cardiovascular events and breast cancer safety study. The independent DMC has recommended that the LibiGel safety study should continue as per the FDA-agreed protocol, without modifications.

Hornbeck Offshore Services, Inc. (NYSE:HOS) stock fell 1.06% to $38.43 after the company announced that it has expanded its OSV Newbuild Program #5 and has commenced a new 200 Class OSV Retrofit Program, among other recent developments. The company has exercised the first four of its 48 options to build additional HOSMAX vessels at an aggregate incremental cost of approximately $180 million, excluding construction period interest, for vessel deliveries in the fourth quarter of 2014 and first quarter of 2015.

LDK Solar Co., Ltd (ADR) (NYSE:LDK) shares decreased 7.48% to $1.21 in the early hour after the company’s credit rating was cut one level to A by Shanghai Brilliance Credit Rating & Investors Service Co., on the company’s operating losses and souring export outlook. Shanghai Brilliance lowered the credit grade of Jiangxi LDK Solar Hi-Tech Co., the manufacturer’s principal operating subsidiary, to its sixth-highest level and kept the rating on negative outlook after production and sales fell in 2012.

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