Stocks to watch: Netflix, AT&T

The movie streaming company said CEO Reed Hastings will receive fewer stock options in 2012. Regulators approve AT&T's plan to buy wireless spectrum from Qualcomm.

By TheStreet Staff Dec 23, 2011 9:22AM
By Joseph Woelfel TheStreet
Netflix's (NFLX) major blunders in 2011 may have cost CEO Reed Hastings money in 2012. According to a Securities and Exchange Commission filing, Hastings will receive an annual salary of $500,000 on top of stock option allowance of $1.5 million in the coming year. In 2011, Hastings earned $500,000 and received an annual stock option allowance of $3 million. 

AT&T's (T) $1.93 billion purchase of unused wireless spectrum from Qualcomm (QCOM) was approved by the Federal Communications Commission. AT&T bought the spectrum to add capacity to its fourth-generation, or 4G network.


Eastman Kodak (EK) named Laura Quatela president and agreed to divest of its Eastman Gelatine business. Quatela, who most recently served as general counsel, will serve as president alongside current president Philip Faraci. Both will report to CEO Antonio Perez. Eastman Gelatine has 95 employees and makes gelatin used in photographic movie film and paper emulsions. It is being sold to Rousselot, which is part of the Vion Food Group.


American International Group (AIG) CEO Robert Benmosche told the insurance company's board he would like to remain CEO longer than planned, The Wall Street Journal reported. Benmosche, 67, told the newspaper he plans to run AIG beyond next year, depending on his health. He was diagnosed with cancer in late 2010. He previously indicated he planned to retire sometime in 2012. AIG's board doesn't have to approve Benmosche's decision to stay, according to people familiar with the matter, the Journal said. Benmosche previously threatened to quit two years ago because of frustrations over government-imposed pay curbs. The Treasury Department owns 77% of AIG following its 2008 rescue of the insurer and a sale in the spring of some AIG stock.


Broadcom (BRCM) and Rambus (RMBS) reached a patent licensing agreement. The five-year deal covers the use of Rambus-patented technology in Broadcom chips, and resolves litigation between the two parties.


Shutterfly (SFLY), the photo sharing website, lowered its fourth-quarter revenue guidance. Shutterfly said Friday it expects revenue of $259 million to $264 million. The company previously forecast revenue of $270.5 million to $275.5 million. Analysts surveyed by Thomson Reuters expect Shutterfly to post fourth-quarter revenue of $267.76 million.


Related Articles:



Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.



Quotes delayed at least 15 min
Sponsored by:


There’s a problem getting this information right now. Please try again later.
There’s a problem getting this information right now. Please try again later.
Market index data delayed by 15 minutes

[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.

The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More


There’s a problem getting this information right now. Please try again later.
Sponsored by: