Orlando, FL -- (SBWIRE) -- 08/15/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Netflix, Inc. (NASDAQ:NFLX), KeyCorp (NYSE:KEY).
Netflix, Inc. (NASDAQ:NFLX) shares decreased 1.04% to $259.10. TheStreet reissued their hold rating on shares of Netflix in a research report released on August 10.
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Additionally, the company on July 23 said it signed up fewer-than-expected new customers for its streaming service in the second quarter, despite a higher-than-expected profit.
Netflix beat analysts' forecasts with $29 million in second-quarter profit and earnings per share of 49 cents, but said it added 630,000 new streaming customers in the United States, in the middle of a forecast the company issued in April.
KeyCorp (NYSE:KEY) stock dropped 0.98% to $12.17. The company on August 1 announced that it has closed on its agreement to sell Victory Capital Management and its broker dealer affiliate Victory Capital Advisers to the employees of Victory and Crestview Partners, a leading private equity firm based in New York. KeyCorp's net after-tax realized gain from the sale is expected to be in the range of $100 million to $115 million. The cash portion of this gain will be between $75 million and $90 million, and Key intends to use these cash proceeds for common share repurchases.
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Addiitonally, the company on July 18 said its second-quarter profit fell 14% as the lender saw higher noninterest expense and loan-loss provisions mask a small improvement in revenue. The company reported a profit of $204 million, versus $236 million a year earlier. Per-share earnings, reflecting the payment of preferred dividends, were 22 cents, down from 24 cents. Total revenue was up 1.4% at $1.02 billion. Analysts expected a per-share profit of 20 cents on $1.02 billion in revenue.
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