Schaeffer's Trading Floor Blog

Buzz Stocks: Time Warner,, Verizon Communications, and Pfizer

Today's hot stocks to watch in the news include TWX, AMZN, VZ, and PFE

by 11/7/2012 8:49 AM
Stocks quoted in this article:

Well, it's official - President Barack Obama has earned four more years in the White House. Futures have moved far south of breakeven this morning as the cloud of uncertainty is lifted, but the fear of gridlock and the "fiscal cliff" persists. While company-specific reports will likely be overshadowed by various upshots from yesterday's elections, here are some stocks making news:

  • Earnings news: News Corp (NASDAQ:NWS) announced quarterly results of 43 cents per share, topping analysts' estimates for 37 cents per share. Operating income surged by 23%, thanks in large part to strength at regional sports networks and Fox News (Reuters); Fellow communications concern Time Warner Inc. (NYSE:TWX) said third-quarter earnings edged up 2% to 86 cents per share, topping analysts' consensus view by a four-cent margin. Revenue fell 3% to $6.84 billion, however, falling short of estimates. (The Associated Press)

  •, Inc. (NASDAQ:AMZN) is testing a new price point for its Prime service -- $7.99 per month. That's more expensive than the current annual fee of $79 (by $16.88, specifically) but is equal to monthly service fees charged by Netflix, Inc. (NASDAQ:NFLX) and Hulu. Prime offers both streaming video and free two-day shipping on many of its products. (CNN Money)

  • Verizon Communications Inc. (NYSE:VZ) is closing its app store in January by removing it from all Android and BlackBerry devices. The process will be completed within two months, around the three-year anniversary of the store's launch. Most existing Verizon Apps are available through other portals, including AMZN and BlackBerry App World. (PC Magazine)

  • Pfizer Inc. (NYSE:PFE) has won the FDA's approval for use of its Xeljanz medication as a treatment for rheumatoid arthritis in adults. This could generate $2.3 billion in annual sales by 2018, according to analysts. (Bloomberg)

  • Finally, NBC (and MSNBC) were the first networks to take a leap of faith and announce re-election for President Obama, declaring the incumbent the winner at 11:12 p.m. ET. CBS followed at 11:15, and ABC checked in at 11:23, slightly lagging The Daily Show on Comedy Central. (Entertainment Weekly)

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