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.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Stocks slammed as manufacturing slows in U.S., abroad
  2. Consol Energy cutting retiree health benefits, phasing out pension
  3. LNG exports get federal approval from Dominion’s Cove Point terminal
  4. Retirement planning is about more than just money
  5. Hospitals, doctors in Pa. received $32M in 5 months from drug, medical device companies
  6. EPA says greenhouse gas releases from wells, pipelines decline
  7. Google Pittsburgh instrumental in fight against hackers, co-directors say
  8. Western Pa. unemployment rate holds steady in August
  9. Study: Wellness programs don't save money, but employee health improves
  10. Cranberry-based Prodigo Solutions: Hospitals can reduce high supply costs
  11. Trib 30 index of Pittsburgh-area stocks falls in September
Subscribe today! Click here for our subscription offers.