Now you can add Coinstar (NASDAQ: CSTR), deployers of the ubiquitious Redbox DVD vending kiosks, to the list with its newly announced partnership with Verizon Communications (NYSE: VZ) to begin streaming media online.
Whether or not this is a game-changer christian louboutin for Netflix remains to be seen. As of Monday’s close, shares of both Netflix and Coinstar were moving strongly higher, with NFLX up more than 2% and CSTR gaining more than 1% (even Verizon, which has sold off sharply since the beginning of the year, edged higher by three-quarters of a percent), the consensus opinion on the deal is somewhere between “this won’t hurt Netflix” to “this won’t hurt Netflix, yet.”
Technically speaking, Netflix continues to trade in overbought territory below the 200-day moving average. The stock has closed higher for four days in a row – seven out of the past eight – earning NFLX our lowest “consider avoiding” rating of 1 out of 10 late in trading on Monday. Netflix also has a negative, short-term edge of just over 1%.
For its part, Coinstar lost much of its early momentum on Monday. The stock opened up by well over 6%, but reversed over the course of the trading day to close well off the session’s highest levels. Finishing lower for three out of the four days leading into Monday’s volatile session, CSTR is set to open Tuesday morning in neutral territory, with a small bias toward the overbought. With a modest positive edge of half a percent, Coinstar has earned neutral, 6 out of 10 ratings ahead of trading on Tuesday.
Shares of Verizon Communications have been stronger in recent days, closing higher for five out of the past six sessions, and edging toward both new, short-term highs and overbought territory above the 200-day moving average. Two rounds of selling at the beginning and end of January have kept the stock under significant selling pressure in 2012, with VZ down more than 5% for the year.
Heading into trading on Tuesday, Verizon is in neutral territory with a bias toward the overbought.
Want more stocks? Read our latest from 7 Stocks You Need to Know: “The Intel Pullback as Pitstop: Three Down, Six Up”.
The country’s vice president, Mohammed Hassan, was sworn in as president on Tuesday afternoon.
The Maldives, an archipelago in the Indian Ocean known for its luxury tourist resorts, has been in the throes of nighttime protests for the past three weeks since the detention of the judge. Police officers in Male, the capital, revolted overnight against orders to break up the protests and then marched to the headquarters of the military to demand the president’s resignation.
“I believe if I continue as the president of the Christian Louboutin Sandals Maldives, the people of the country would suffer more,” Mr. Nasheed said in a resignation statement published on his Web site on Tuesday. “I wish the Maldives would have a consolidated democracy. I wish for justice to be established. My wish is for the progress and prosperity of the people.”
Mr. Nasheed was elected in 2008 and is credited with bringing full democracy to the Maldives after the 30-year rule of former President Maumoon Abdul Gayoom. Last month, Mr. Nasheed ordered the military to arrest a criminal court judge, Abduallah Mohammed, on the grounds that he was acting on behalf of the former president. Protesters began to take to the streets in Male and on Monday night police officers decided to join them.
“The real catalyst, last night, was that the police decided that they wouldn’t disperse the protesters,” said Mohamed Hussain Shareef, spokesman for the Progressive Party of Maldives, the opposition party of Mr. Gayoom, the former president.
Mr. Shareef contended that the military refused to follow orders to crack down on the protesters. “We were told that the army was also asked to disperse the protesters using live rounds,” Mr. Shareef said.
S. Ahmed Shiyam, a police official in Male said clashes took place between police officers and soldiers on Monday evening and early Tuesday morning, with some of the protesters joining on the police side. Then, some soldiers switched sides, and by Tuesday morning the police and army were united.
An official close to Mr. Nasheed denied that the president had ordered soldiers to fire on the protesters and had resigned to avoid such violence. “He faced the choice of seeing a lot of blood by asking the military to crack down,” said the official, who asked not to be identified given the political volatility of the moment. “But he wasn’t prepared to do that.”
The official close to Mr. Nasheed accused Christian Louboutin Studded Louis Sneaker Red supporters of former President Gayoom of engineering the protests, as well as the mutiny by police officers. “This hasn’t been a popular revolt,” the official said in a telephone interview. “Make no mistake, it is a coup.”