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Tim Cook's Big Week: Tech Weekly

Stocks in this article: AAPL RIMM FB ORCL

Netflix (NFLX) made headlines, both good and bad, this week.

The Securities and Exchange Commission sent CEO Reed Hastings and Netflix a Wells notice, claiming he violated the Regulation Fair Disclosure, Section 13(a) of the Securities Exchange Act and Rules 13a-11 and 13a-15 by making comments about usage figures on his Facebook (FB) account.

Hastings then took to his Facebook account, saying he believes the company and himself will be vindicated. "We remain optimistic this can be cleared up quickly through the SEC's review process," Hastings wrote on his page.

The Wells notice calls into question the role of social media in finance, and how it relates to disclosure. Companies like Facebook and Twitter play an increasingly important role when it comes to information and disclosure to investors.

On a more positive note, Netflix signed a major movie licensing deal with Disney (DIS). The deal makes Netflix the exclusive provider of Disney Studios' animated and live-action feature films in the U.S.

Shares of Netflix enjoyed a strong week, buoyed by the Disney deal, gaining 5.24% to close at $85.98.


Facebook (FB) had a newsy week, as speculation swirled that the social network would acquire a popular SMS messaging app. The Menlo Park, Calif.-based firm will also be joining the Nasdaq 100.

There was speculation Facebook would buy Whatsapp, though Whatsapp later described the chatter as "a rumor and not factually accurate."

On Wednesday, Nasdaq (NDAQ) announced that Facebook will be joining several of its indices, just seven months after it went public.

In a press release, Nasdaq OMX Group announced that Facebook will become a component of three indices prior to the market opening on Dec. 12. Facebook will join the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index, and the NASDAQ-100 Technology Sector Index. Facebook is set to replace Infosys (INFY).

Shares of Facebook fell this week, losing 1.84% to close at $27.49.


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