In The News:
The National Football League and Twitter Inc. have reached an agreement to make available football highlights and other content on the social media service. As part of the deal, the NFL will have a dedicated team to produce programming for Twitter users seven days a week. Programming will include in-game highlights from the NFL Network’s Thursday night games and games aired on CBS and Fox. Additional content will include news, analysis and fantasy football advice.
What’s in it for both companies? Ad revenue. The new initiative is part of Twitter’s revenue-generating program Amplify that allows TV content owners to distribute programming via Twitter feeds with short embedded ads.
Bottom line: Twitter seemingly makes off like a bandit with these partnerships (NFL, CBS, A+E, The Weather Channel, and BBC America), securing a small foothold in the $70 billion TV advertising market and bolstering its valuation position prior to its highly anticipated initial public offering, a valuation estimated at nearly $15 billion.
Amazon ( AMZN) unveiled two new versions of its Kindle Fire on Wednesday: the Kindle Fire HDX available in either 7-inch or 8.9-inch screens. In addition to the improved screen, the new Kindle Fire also includes:
- Total integration of book recommendation and sales site Goodreads.
- Access to Amazon’s Prime instant video service, which allows free, unlimited access to thousands of TV shows and movies offline with subscription membership and unencumbered by Wi-Fi.
- X-Ray for Music, which allows users to identify by name songs they see in TV shows and movies; once the song is identified, the user will have the option to buy a digital version from Amazon.
The Kindle Fire HDX starts at $229 for the 7-inch and $379 for the 8.9 inch. Models with 4G wireless connectivity will add an additional $100.
Top executives sold small blocks of their company stock ( BBRY) on the same day that the smartphone maker warned of their huge quarterly operating loss and job cuts. Filings showed that Chief Executive Officer Thorsten Heins and Cheif Financial Officer Brian Bidulka sold about 51.1% of their newly vested shares on Sept. 20, netting $117,600 and $39,200, respectively. The shares were automatically sold by the trustee of BlackBerry’s restricted stock unit (RSU) plan to pay taxes owed by the two executives as a result of the vested RSUs, BlackBerry spokesman Adam Emery said by email.There is no indication of any wrongdoing by the executives or the company.
In The Markets:
Asian markets were mixed Thursday. The Nikkei went green as investors hope a corporate tax cut is in the near future. Investor took profits before the next week’s holiday for the market causing both markets to close in the red.
European stock markets closed lower Wednesday, as the US debt ceiling and budget woes became front and center in investors’ minds.
US markets headed lower on Wednesday bring the count of down days for the DJIA and S&P to 5. Tepid economic data and growing concern offer the soap opera in Washington had investors walking to the sidelines to watch. DJIA: – 59.21 15275.38 NASDAQ: -7.16 3761.10 S&P: -4.49 1692.93
In Dinner or Drink:
Apple Pie-Infused Bourbon
- 3/4 cup sweetened tea
- 3 tablespoons Apple Pie-Infused Bourbon
- 1 tablespoon fresh lemon juice
- Club soda
- Garnishes: apple slice, cinnamon stick
Combine sweetened tea, Apple Pie-Infused Bourbon, and fresh lemon juice in a cocktail shaker filled with ice. Cover with lid; shake vigorously until thoroughly chilled. Strain into a 10-oz. glass filled with ice. Top with club soda. Garnish, if desired.
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