Schaeffer's Trading Floor Blog

Buzz Stocks: Netflix, Google, Sirius XM Radio, and AIG

Today's hot stocks to watch in the news include NFLX, GOOG, SIRI, AIG, and WMT

by 12/7/2012 8:58 AM
Stocks quoted in this article:

A better-than-expected nonfarm payrolls report has stock futures pointed north ahead of today's opening bell. Turning to stocks, Google is exploring new avenues for revenue, and Sirius XM is sharing the wealth with its shareholders. Here are some other stocks in the news today:

  • Earnings news: Smith & Wesson Holding Corporation (NASDAQ:SWHC) posted second-quarter earnings of 24 cents per share (excluding items), which was in line with analysts' per-share expectations. Meanwhile, revenue rose 48% to $136.56 million, above the consensus view of $134.78 billion. The firearms maker also lifted its fiscal 2013 guidance, saying earnings will range between $1.00 and $1.05 per share, on $550 million to $560 million in sales. This outlook easily tops Wall Street's view of 91 cents per share on $537.94 million in revenue. (Nasdaq)

  • Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings has grabbed the attention of the Securities and Exchange Commission (SEC) with a post to Facebook Inc (NASDAQ:FB). In July, Hastings wrote that NFLX had seen its highest level in monthly viewing, when subscribers logged more than 1 billion hours for the first time ever the previous month. The SEC contends that this post may have violated public disclosure rules and influenced trading just weeks before the company's second-quarter earnings report. (FOXBusiness)

  • The free ride is over for small businesses using Google Inc (NASDAQ:GOOG) Apps, as the web giant will now charges businesses with 10 or fewer people $50 per user, per year. This is still a pretty good deal, however, as the enterprise business software includes email, word processing, and spreadsheet functionality. (Reuters)

  • Joining the group of companies paying out special dividends before the close of 2012 is Sirius XM Radio Inc (NASDAQ:SIRI), which will take a $325 million hit as a result. The broadcasting concern will pay five cents per share on Dec. 28 for shareholders of record as of Dec. 18. Additionally, SIRI plans to repurchase up to $2 billion of its shares. (USA Today)

  • In a surprise move, the Indian parliament okayed government plans to allow big-box retailers such as Wal-Mart Stores, Inc. (NYSE:WMT) into the country. This decision comes on the heels of a heated debate in the country: Proponents claim these retailers would improve supply chains and help local famers, while opponents say small retailers would suffer a deadly blow from unfair competition brought on by these corporate giants. (Houston Chronicle)

  • American International Group, Inc. (NYSE:AIG) may be unloading a controlling stake in its aircraft-leasing unit (International Lease Finance Corp.) to a consortium of Chinese investors. The deal, led by New China Trust Co., may be worth up to $5.5 billion, making it the largest-ever acquisition of a U.S. entity by Chinese investors. (Bloomberg)

  • And lastly, Metallica, whose drummer Lars Ulrich was the anti-Napster poster boy, has signed up with music-sharing service Spotify. Ulrich said the band now understands Napster's point of view and the original discord was "about control, not money." The Spotify service currently boasts 20 million active users, one-quarter of whom pay a subscription fee. (CNNMoney)

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