Wednesday's trading saw a couple of big-time stock pops and another chapter
in the slow death of a giant. Netflix (NASDAQ: NFLX ), 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 that even included a baffling drop 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 hadnt released its viewing hours metric.
High-end athletic apparel company Lululemon (NASDAQ: LULU ) 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 ) continued its march toward
zero after shares declined 30% to 47 cents on news of a possible Chapter 11
bankruptcy filing. The Wall Street Journal reported 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 , 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 Liz Claiborne (NYSE: LIZ ): Up
9.29% (80 cents) to $9.41. Cabot Oil & Gas (NYSE: COG ): Up 7.19% ($5.52) to
$82.32. Micron Technology (NASDAQ: MU ): Up 3.4% (23 cents) to $6.99. Three Down
Acme Packet (NASDAQ: APKT ): Down 19.21% ($6.11) to $25.70. Amarin (NASDAQ: AMRN
): Down 9.93% (70 cents) to $6.35. MetroPCS Communications (NYSE: PCS ): Down
6.39% (60 cents) to $8.79. 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 .
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