Shares of Netflix closed up 14.01% on Tuesday after the two companies announced the multi-year licensing agreement. Under the terms of the deal, Netflix becomes the exclusive U.S. subscription TV service for first-run Disney live-action and animated feature films.
Amazon (AMZN) shares gained 0.2% to $252.99 on Wednesday after rising 0.86% during Tuesday's trading.
Evercore Partners raised its Amazon price target to $290 from $270 on Wednesday, citing "favorable" intra-quarter trends. These include upbeat commentary on Amazon's holiday performance at Tuesday's Think Commerce Global Summit event, positive "Cyber" shopping holiday performance and encouraging takeaways from the recent Amazon Web Services conference, according to Evercore's Ken Sena.Apple (AAPL), however, was a loser before market open, slipping 0.9% to $570.65. The iPhone maker's shares closed down 1.76% on Tuesday. Investors will be closely watching Pandora (P) on Wednesday. Pandora's shares plunged in extended trading on Tuesday after the Internet media company delivered a downbeat fourth-quarter forecast. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
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