On Friday, Shares of Netflix, Inc. (NASDAQ:NFLX), gained 0.04% to $101.12.
Shares of Netflix (NFLX) were down Thursday, after reporting weaker than predictable Q3 earnings yesterday. The streaming giant is blaming slow U.S. user growth on the payment system’s switch to chip and pin credit cards. Netflix claims that it was unable to process cards of some users, which led to, “involuntary churn.”
Netflix, Inc., an Internet television network, engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally.
On other hand, Shares of Staples, Inc. (NASDAQ:SPLS), declined -0.16% to $12.52.
The most recent price of Staples, is now at a discount to the 12-month high of $19.40 hit on Feb 3, 2015. The last price is at a premium to the 52-week low of $11.61 suffered on Oct 1, 2015. The stock, as of previous close, has shown weekly downbeat performance of -0.63% which was maintained at 6.52% in this year.
Staples, declared that the company’s Board of Directors has adopted a policy that limits severance benefits for senior executives. Based on the terms of the new policy, the company will not pay any severance benefits under any existing or future employment agreement or severance agreement with an executive officer that exceeds 2.99 times the sum of the executive’s base salary plus target annual cash incentive award, without seeking shareholder approval. In addition, Ron Sargent, Chairman and Chief Executive Officer, has elected to amend his severance agreement to align with the terms of the new policy.
“Our Board is committed to responding to shareholder feedback and ensuring that the company’s executive compensation program aligns with best practices,” said Paul Walsh, Chair of the Compensation Committee. “This new policy is in the best interests of Staples’ shareholders.”
At the company’s Meeting of Shareholders in June 2015, a shareholder proposal regarding future senior executive severance agreements received support from a majority of votes cast. The Board carefully considered the results of the vote, in addition to various perspectives conveyed directly by shareholders as part of ongoing engagement. As a result, the Board adopted a policy that is applicable to existing and future agreements.
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations.
