TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Netflix upgraded by analyst; stock up

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By Cliff Edwards C.2012 Bloomberg News
Tuesday, Oct. 9, 2012, 12:01 a.m.
 

Netflix Inc. advanced to the highest price in more than two months after Morgan Stanley upgraded the stock, saying competition from Amazon.com Inc.'s Prime Instant service is “overblown.”

Netflix gained 10 percent during the day on Monday, reaching its highest price since July 24. Scott Devitt, a New York analyst for Morgan Stanley, upgraded the stock to the equivalent of a buy.

Because Amazon.com also uses its Prime Instant Video to promote rentals and purchases, it's unlikely the online retailer will offer a standalone product that competes directly with Netflix, Devitt said.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Pennsylvania shale gas producers received hundreds of environmental citations in 4 years, PennEnvironment says
  2. SEC alleges BNY Mellon bribed foreign investors by handing internships to their relatives
  3. Obamacare enrollment up in Pennsylvania
  4. U.S. Steel has 1st profitable year since 2008
  5. MSA Safety products in demand to protect workers in dangerous jobs
  6. Emergency room visits decline as navigators steer patients to proper medical care
  7. Energy companies vie for experienced workers with skills in high demand
  8. U.S. company outlooks worry investors, sending stocks lower
  9. India nuke deals still thorny for U.S. despite ‘breakthrough’
  10. U.S. Steel warns it may lay off almost 2,000 workers in Alabama, Texas
  11. Shale sector won’t gut area workforce