Tags: EP ,KMI ,MFG ,SIRI ,SMFG ,Stock Analysis Recap - Here’s Why These Stocks Trended This Week
Coinstar said it would hike prices for the first time in eight years and offered mixed fourth quarter guidance that sent the stock lower after hours despite a healthy third-quarter profit report.
Shares of both Netflix (NFLX) and Coinstar (CSTR), whose main businesses are redbox self-service DVD rentals and self-service coin counters,? were under pressure Thursday. Seems film studios, looking to boost DVD and higher-margin streaming revenue, are once again mulling a lengthening of? the 28-day delay on movie releases to rental outfits. Bloomberg reported that studios are studying a 60-day delay.
Coinstar shares fell 2.3% Thursday before sinking another 9.6%, or $5.08, to $47.87 after hours. Netflix stock rose nearly 2% Thursday and rose slightly after the bell.
Coinstar raised prices for DVD rentals to $1.20 daily from $1.00 effective October 31.? While blu-ray and video game daily rates remain the same, the company said it needed to cover rising operating expenses, including higher debit card fees.
Third quarter earnings were $1.18 per share, 34 cents better than the 84 cents analysts expected. While revenue rose 20% to $456.6 million year over year, analysts were looking for $493.3 million
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