Netflix (Nasdaq: NFLX) should have a fondness for Microsoft's (Nasdaq: MSFT) Xbox 360. Digital video took off for Netflix after it became available on Microsoft's Xbox Live marketplace.
Now a rival is taking the same shot, as Hulu Plus began streaming on Friday. Hulu Plus will set Xbox Live Gold subscribers back $8 a month, the same as Netflix's streaming subscription, although Hulu Plus will be free for all during the next few days.
Has Mr. Softy betrayed Netflix CEO Reed Hastings, who sits on Microsoft's board? I don't think so. Hulu Plus is making itself available across other consoles, just as Netflix is playing the field.
Things continue to get interesting in the digital-streaming space.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- Commercial real estate marketplace LoopNet (Nasdaq: LOOP) won't have to lock horns with CoStar Group (Nasdaq: CSGP) anymore. They're tying the knot, with CoStar making LoopNet its co-star in a roughly $860 million deal.
- Do you still think Crocs (Nasdaq: CROX) is a fad? The maker of resin shoes saw its profitability more than triple on a 36% spike in revenue.
- Lazard Capital put the "boo" in "ba-ba-booey" by downgrading shares of Sirius XM Radio (Nasdaq: SIRI) just days before the satellite-radio operator's set to post quarterly results.
- Benchmark Co. upgraded shares of Travelzoo (Nasdaq: TZOO), tagging it with a whimsical price target of $123. Longs can certainly do some counting. The travel-deal publisher's stock was trading in the teens this past summer.
Until next week, I remain,
Rick Munarriz
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