Can satellite TV broadcaster Dish Network reinvent itself like Netflix, the one-time DVD renter that became a streaming-video giant? Dish (DISH) founder and CEO Charlie Ergen was careful making comparisons on the satellite broadcaster’s Q1 earnings conference call Monday, but Ergen said he expects Dish’s fledgling Internet over-the-top video service Sling TV to one day provide significant revenue. “We’re excited about where it’s going to go,” he
Rising biotech star Medivation started losing altitude in after-hours trading Thursday after its Q1 report missed estimates, in a day when several high-rated drug stocks reported. Medivation’s (MDVN) earnings excluding one-time items totaled 17 cents a share, reversing a year-earlier loss but missing analysts’ consensus by 10 cents, according to Thomson Reuters. Revenue climbed 48% to $129.2 million, about $20 million short of consensus.
Alibaba Group stock jumped 7.5% Thursday after China’s e-commerce leader reported quarterly earnings that alleviated worries about the company, which is fighting battles on multiple fronts. Alibaba (BABA) said that it processed $97 billion in gross merchandise volume, up 40% from the year-earlier quarter. Its platforms, including Taobao and Tmall, handle about 80% of China’s e-commerce. Overall, Alibaba reported revenue of $2.81 billion, up 45%