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Business Minute: Block-Busted, Twitter Shock & Dow Bounce Back

It's time for your business minute on this Thursday morning, November 7.
It's time for your business minute on this Thursday morning, November 7.

Blockbuster is ending its retail and mail order services and closing all of its remaining stores and distribution centers. Dish network bought the movie rental chain in 2011 in a bankruptcy auction. The brand had been struggling to compete with other d-v-d rental and digital streaming services.

Blockbuster by mail, a service launched to counter Netflix, will end in mid-December. It will continue to serve customers until that time. The streaming Blockbuster On Demand service will continue. Dish also is maintaining its licensing agreements with Blockbuster, which includes 15 movie channels and thousands of movies. so Dish customers will still have access to Blockbuster at Home services.

The move will affect 300 U.S. stores.


Twitter priced its initial public offering at $26 a share late Wednesday, a move that clears the way for the stock to start trading today. That's an increase from the initial $17-$20 range. The announcement came via -- what else? -- a company tweet.

The $26 ipo price values Twitter at $14.2 billion.


The Dow lost a bit Tuesday, but it bounced back in a big way Wednesday jumping a whopping 128 to close at 15,746.

That wasn't the case for the Nasdaq, which fell which nearly 8 points to end the day at 3,931.

Finally the S&P 500 gained 7.52 points to settle in at 1,770.


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