Netflix, Inc.(NASDAQ:NFLX) shares gained 6.98% to $60.31 after after Citigroup analyst Mark Mahaney yesterday restated a buy rating on the stock citing "a highly reasonable valuation, a generally positive execution track record, and the still early market opportunity for Internet video streaming.
Has NFLX Found The Bottom and Ready To Move Higher? Find Out Here
Separately, Macquarie started covering NFLX with an "underperform" rating on Sept. 17. Macquarie research analyst Tim Nollen put a $50 price target on the stock because media companies hold the upper hand.
Additionally, the company announced it will post its third-quarter 2012 financial results and business outlook on October 23, 2012, at approximately 1:05 p.m. Pacific Time.
Telefonica S.A. (ADR)(NYSE:TEF) shares declined 0.37% to $13.48 after the company started the sale of up to 20% of its O2-branded German subsidiary on October 3, 2012, with the company set to raise up to EUR 1.5 billion (USD 2 billion) from the initial public share offer which is expected to go ahead later in October 2012 to help cut the Company’s debts.
Additionally, Standard & Poor's Ratings Services affirmed its long-term credit rating on Telefonica SA at BBB with negative perspective and it affirmed its short-term credit rating at A-2.
Moreover, the company announced that the Company is preparing a public offering of Telefónica Deutschland Holding AG (the company), that it is expected to take place during the fourth quarter of 2012. The Company aims to list its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
AEterna Zentaris Inc. (USA)(NASDAQ:AEZS) shares declined 18.63% to $0.559 in the morning hour after the company today has consolidated its shares on a six-to-one basis as the company attempts to regain compliance with Nasdaq's minimum bid price requirement. The consolidation, which reduces Aeterna's number of outstanding common shares to about 18.7 million from about 112.4 million, was effective yesterday.
Additionally, the company has received conditional approval from the Toronto Stock Exchange for the consolidation. It is awaiting confirmation from the exchange and Nasdaq. If received, it expects that shares, post-consolidation, will begin trading on these exchanges on Friday.
Rigel Pharmaceuticals, Inc.(NASDAQ:RIGL) stock dropped 8.79% to $9.44 after the company yesterday announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares to be sold in the offering are to be sold by Rigel, with the proceeds to be used to fund research and development activities and for general corporate purposes.