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After a lot of back and forth, Amazon.com (Nasdaq: AMZN ) has finally acquired Europe's leading DVD-rentals-by-mail service. Lovefilm has become Europe's Netflix (Nasdaq: NFLX ) , down to the rapidly growing streaming component.
This is good timing on Amazon's part, as Netflix has indicated that it will enter at least one new overseas market later this year after September's successful rollout of a streaming-only service in Canada.
So rather than chase Netflix, Amazon will be the one waiting for Netflix as it broadens its reach to Europe in the coming years.
Grab some popcorn and make yourself comfortable. This showdown is about to get exciting.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- Boeing's (NYSE: BA ) Dreamliner is becoming the equivalent of Guns N' Roses' Chinese Democracy album, as the company issued yet another delay on the mammoth carrier. This is the seventh time that Dreamliner's debut has been pushed out, but at least the new July target is just months away.
- Wendy's/Arby's (NYSE: WEN ) is looking to sell its Arby's chain, the roast-beef slicer that accounts for less than a third of Wendy's/Arby's revenue and has been a drag on the bottom line.
- Cree (Nasdaq: CREE ) didn't exactly light up the room when the LED-lighting specialist reported quarterly results that fell short of its own guidance.
- TD AMERITRADE (Nasdaq: AMTD ) posted a higher quarterly profit despite a slight decline in trading volume. The discounter has been buying back shares and recently initiated a quarterly dividend policy.
Until next week, I remain,
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