Netflix (NFLX) struck what could be a landmark deal with Comcast (CMCSA) to end a months-long standoff over video-streaming delivery and speeds. Netflix agreed to pay Comcast to ensure Netflix content is streamed smoothly. In exchange for the payment, Netflix will have direct access to Comcast's broadband network. The deal comes as debate heats up over who should pay for upgrades to Internet infrastructure.
HSBC (HSBC) shares were down as much as 5% after the after the bank reported disappointing profits. HSBC said profits rose 9%, but came in below analysts' expectations of $24.5 billion. The company has slashed 40,000 jobs and sold or closed 60 businesses over three years. The cost of those cuts hit revenue. It's been a volatile year for shares of HSBC, but over the last 13 months, the stock is basically flat.
BlackBerry (BBRY) said it would make its BBM messaging service available to the Windows Phone and Nokia X platforms. The Windows download will be available this summer. The Nokia X platform hasn't yet launched. BlackBerry shares have recovered some ground so far this year, after a rough 2013.
Chinese Internet company Sina (SINA) is preparing a U.S. IPO for its Twitter-like social media platform, Weibo. Sina hopes to raise $500 million from the offering, which is expected in the second quarter, according to the Wall Street Journal. Like U.S. social media companies, Weibo, is facing increased competition from other social media companies. It has also faced a government crackdown on political content on the site. Sina shares have seen a nice run in the last year, up about 40%.
And, WWE Network is here! World Wrestling Entertainment (WWE) is launching its new WWE Network today. For a subscription fee of $9.99 a month, subscribers can view the network via app on devices including the Xbox 360, Playstation 3 and 4 and Amazon Kindle Fire. A second phase of the rollout later this year will include smart TVs and Blu-Ray players. Shares of WWE hit a 14-year high last week after the company posted mixed earnings ahead of the new network rollout.
- Technology & Electronics