If you're feeling good about the market, you're not alone. Take my hand as we go over some of this week's more uplifting headlines.
1. Amazon streams on
One of Amazon.com's
Amazon's selection of available freebies may be limited to just 5,000 movies and television shows, but it's the best way to scale quickly in order to compete against Netflix
Amazon claims that it already has millions of Prime members, and it's a safe bet that many of them have never ordered premium digital rentals and purchases through Amazon Instant Video. Amazon will have some legwork to do in getting its streams into the video game consoles, smartphones, and tablets as Netflix has done, but this should be a sticky offering that will increase a la carte digital video purchases. Attracting movie buffs to Prime memberships should also help increase overall sales.
2. The NetEase professor
NetEase.com
Earnings climbed a better-than-expected 25%. The bottom-line showing would've kept up with the top-line spurt if NetEase didn't have to account for a currency hit for parking most of its $1.2 billion in time deposits in euro-denominated banks.
Nobody's perfect, but if the biggest knock on you is that you have too much money collecting interest in the wrong bank you know you're doing things right.
3. Love is the drug
A good way to buck this week's general malaise was to bet on biotechs putting out positive pipeline news.
Shares of Exelixis
Later this year, Exelixis will begin testing its prostate cancer drug cabozantinib as a possible treatment for other types of cancer. Vertex's VX-770 received positive data from a drug trial, showing improved lung function in some patients with cystic fibrosis.
Patience will be required to see either of these catalysts fully play out, but the welcome news from both camps was enough to deliver healthy pops on otherwise dreary trading days.
4. This is what brown can do for you
The surge in oil prices is bad news for more than just you at the gas pump. Higher prices will increase food costs, pinch airline margins, and even sting homebuilders looking to fill vacant homes out in the suburbs. However, there will be a few beneficiaries.
Clean Energy Fuels
5. Drove my Chevy to the levy
General Motors
Mr. Market doesn't see it that way. The stock hit a new post-IPO low yesterday. However, this is ultimately validation of the bankruptcy reorganization process that created a leaner debt structure to transform GM into the profitable automaker that it is now today.
The spike in oil prices may also be hurting, but I don't necessarily see that as a roadblock. Higher prices at the pump may actually encourage drivers to trade their gas hogs for the more fuel-efficient cars rolling off the assembly lines these days.
Don't let us down, Chevy Volt!