EmptyAN Imax intermission
Imax sat out a nice rally Monday as its shares dropped 4% despite a 4% rise on the Nasdaq. Wall Street firm Merriman Curhan Ford on Monday reiterated its "buy" recommendation on the stock and said it could rise to $10.50 in the next year; shares closed at $2.70 on Monday. The analysts said that the rollout of digital projectors at traditional theaters will be delayed because of a weak economy, which should increase consumer demand for the Imax format.
A NETFLIX FLICKER
Shares of Netflix were up fractionally Monday after the company said during the weekend that it would cut 50 technology jobs. "This action doesn't affect our main customer service group, which has more than 300 people and continues to expand with the growth of our customer base," spokesman Steve Swasey wrote on a company blog. Netflix shares advanced 24 cents Monday to $25.51.
Video game devices dominated eBay's list of the best-selling gadgets sold in 2008, with Nintendo's Wii gaming console topping the list at more than 2 million sold. Next was Microsoft Xbox (1.3 million) followed the Sony PlayStation Portable (351,000), the iPod Touch (281,000) and Wii Fit (267,000).