Netflix Is Driving the S&P 500 Up, Despite News of a New Rival
By Anthony Shields Dec 12, 2012 3:12 pm
Plus, Seagate Technology is down after a downgrade from JPMorgan
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) is up .41% to 1,433.71 as of 2:45 p.m. today. Leading the rise is Netflix (NASDAQ:NFLX) which gained 7.98% to $92.95 a share, despite the recent announcement that Verizon (NYSE:VZ) and Coinstar (NASDAQ:CSTR) are teaming up to enter the streaming business. Joy Global (NYSE:JOY) is also in the green today, rising 5.01% to $60.77 a share after reporting positive earnings for the quarter. On the other hand, Seagate Technology PLC (NASDAQ:STX) is down 3.55% to $28.00 a share after JPMorgan (NYSE:JPM) downgraded the company to underweight.
No positions in stocks mentioned.
Everything you need to know for the next trading day.
Trading Radar (weekly)
Your road map to all the events that will effect financial markets in the week ahead.