Netflix, Lululemon Take Off — Wednesday’s IP Market Recap

by Kyle Woodley | January 4, 2012 5:04 pm

Netflix, Lululemon Take Off — Wednesday’s IP Market Recap

IPMarketRecap Netflix, Lululemon Take Off    Wednesdays IP Market Recap[1]Wednesday’s trading saw a couple of big-time stock pops and another chapter in the slow death of a giant.

Netflix (NASDAQ:NFLX[2]), the darling of 2011’s first half that became a goat by year-end, rocketed to an 11% gain today as the company offered up an attention-grabbing headline metric: Netflix users took in more than 2 billion hours of streaming video content from October to December.

Netflix spent the last half of 2011 in a nosedive caused by the fallout of changes in its subscription plan[3] that even included a baffling drop[4] at the start of December when the markets were in full-on bull mode. However, since then, NFLX shares have been slowly rebounding, clawing back about 9% even before Wednesday’s gains. Netflix previously hadn’t released its viewing hours metric.

High-end athletic apparel company Lululemon (NASDAQ:LULU[5]) gained almost 9% on Wednesday after getting Goldman Sachs’s seal of approval. The stock was added to the firm’s “Conviction List” — a group of highly recommended stocks — with an analyst predicting a price target of $64. Lululemon shares opened Tuesday trading under $50.

Eastman Kodak (NYSE:EK[6]) continued its march toward zero[7] after shares declined 30% to 47 cents on news of a possible Chapter 11 bankruptcy filing. The Wall Street Journal reported[8] that EK might have to resort to bankruptcy should it fail in its attempt to sell its nearly 1,100 patents. This comes a couple months after Kodak announced it was trying to sell off one of its more modern businesses[9], the online Kodak Gallery.

EK stock has sold off more than 90% in the past 52 weeks. On Tuesday, the company was given an automatic warning from the New York Stock Exchange — after its 30thconsecutive day trading below $1 per share — that it had six months to improve its stock price or face delisting on the NYSE.

Three Up

Three Down

As of this writing, Kyle Woodley did not hold a position in any of the aforementioned stocks. Check out our list of previous IP Market Recaps[16].

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. NFLX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NFLX
  3. fallout of changes in its subscription plan: http://investorplace.com/2011/09/netflix-stock-nflx-subscription-plan/
  4. baffling drop: http://investorplace.com/2011/12/netflix-nflx-stock-horror-show/
  5. LULU: http://studio-5.financialcontent.com/investplace/quote?Symbol=LULU
  6. EK: http://studio-5.financialcontent.com/investplace/quote?Symbol=EK
  7. march toward zero: http://investorplace.com/2011/09/eastman-kodak-credit-ek-shares/
  8. reported: http://online.wsj.com/article/SB10001424052970203471004577140841495542810.html?mod=WSJ_hp_LEFTTopStories
  9. trying to sell off one of its more modern businesses: http://investorplace.com/2011/11/eastman-kodak-bankruptcy-ek-stock-kodak-gallery/
  10. LIZ: http://studio-5.financialcontent.com/investplace/quote?Symbol=LIZ
  11. COG: http://studio-5.financialcontent.com/investplace/quote?Symbol=COG
  12. MU: http://studio-5.financialcontent.com/investplace/quote?Symbol=MU
  13. APKT: http://studio-5.financialcontent.com/investplace/quote?Symbol=APKT
  14. AMRN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMRN
  15. PCS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PCS
  16. IP Market Recaps: http://investorplace.com/hot-topics/investorplace-market-recap/

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