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Netflix seven-for-one stock split

Tuesday, June 23, 2015 - 02:24

Netflix says, it will issue a seven-for-one stock split. Stocks move higher in Tuesday's session, despite tensions regarding the Greek debt situation. Bobbi Rebell reports.

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U.S. stocks managed to move a bit higher on Tuesday, with the Nasdaq hitting another record high, as investors waited on whether a deal would be reached to prevent Greece from defaulting on loans. After the closing bell, Netflix announced a seven for one stock split. Share of the streaming media company were higher on Tuesday. The number of U.S. businesses no longer selling confederate flag merchandise is growing, and now includes Amazon as well as Etsy and eBay. Wal-Mart and Sears said Monday they would prohibit the sale of confederate flags and related merchandise from their stores and websites. The battle flag of the pro-slavery Confederacy has become a lightning rod for the outrage after last week's racially-motivated massacre at a black South Carolina church. Investors got more bullish news on housing. New home sales rose to a seven-year high in May. Durable goods orders fell much more than expected, down 1.8 percent last month. Decision Economics' chief global economist, Alan Sinai: SOUNDBITE: ALAN SINAI, CHIEF GLOBAL ECONOMIST, DECISION ECONOMICS (ENGLISH) SAYING: "They're disappointing. Durable goods outlays by businesses have been on the soft side. Capital spending, particularly for traditional goods, is soft. That's a sign that businesses are hesitating in spending." On Wall Street, Darden Restaurants shares spurted higher. The owner of the Olive Garden and Capital Grille chains is spinning off some of its restaurants into a real estate investment trust so it can pay down debt. Three brokerages lifted their price target on shares of Green Dot. The moves come one day after the card issuer said, it renewed its deal to issue Wal-Mart's prepaid reloadable cards for five more years. Fitbit shares can't stop running uphill. As if its 50 percent pop on its Thursday debut wasn't enough, the wearable device maker's stock has roughly doubled its IPO price. BlackBerry's shares fell. Quarterly revenue rocketed higher, but investors were unnerved by the uncertainty over the terms of two licensing deals that boosted sales. Rougher seas for Carnival. The cruise operator warned a stronger dollar and rising fuel costs would bite into earnings in the current quarter. Shares fell. European investors still in rally mode amid brightening expectations for a Greek debt deal. Shares climbed to three-week highs.

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Netflix seven-for-one stock split

Tuesday, June 23, 2015 - 02:24