Market Minute: NetFlix Extends Kids' Programming Pact with Hasbro

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Netflix - Paul Sakuma, AP
Paul Sakuma, AP
Netflix is set to jump for a second day in a row, and Washington's budget showdown weighs on defense stocks.

The Dow Industrials rose another 62 points yesterday to their 14th record high this year. The Dow has jumped nearly 300 points over the past four sessions. The S&P 500 rose five, also closing at a new high, and the Nasdaq added three.

Netflix (NFLX) is set to add to yesterday's big gain. The company expanded its agreement with toymaker Hasbro (HAS) for more kids' programming. Goldman Sachs (GS) also raised its target price on the stock.

JPMorgan's (JPM) quarterly net jumped 33 percent, topping expectations, but there's concern about two key measures: Revenue fell and so did income from net interest.

Bank stocks have been on a tear since the middle of last year, but a number of analysts worry that could end if earnings reveal that growth is slowing.

Defense contractor Harris Corp. (HRS) slashed its earnings outlook for the current quarter and the next one. It said key orders from the government will probably be delayed because of budget wrangling in Washington, including the sequestration. That could put pressure on other defense stocks too.

And trucking company J.B. Hunt (JBHT) failed to deliver. Its net fell short of expectations. That could put pressure on the Dow Transportation average.

J.C. Penney (JCP) is facing a potential cash crunch because its sales have fallen so sharply. So the company has reportedly retained an investment banker to help it sort through some unsolicited offers from private equity groups.

Chevron's (CVX) board of directors has voted to give itself a raise, and a pretty hefty one: Pay for the 11 directors will go up by 25 percent to 375,000 dollars a year.

And Eli Lilly (LLY) is restructuring its sales force after the expiration of some key drug patents. 30 percent of the sales force, about 1,000 jobs, will be eliminated.

–Produced by Drew Trachtenberg


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zapdog4

You dont need Netflix.. All you need are these links:
http://www.ultra-vid.com/
http://www.solarmovie.so/

April 12 2013 at 10:22 AM Report abuse rate up rate down Reply