Netflix Bombs 2.6% with These 2 Media Titans Making Waves Now
Netflix, Inc. (NASDAQ:NFLX) is facing new competition, as Amazon.com (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) are launching a new Amazon Instant Video app for Gold subscribers to Xbox LIVE that provides customers with access to TV episodes and movies on their Xbox 360 consoles. Additionally, the app includes access to Prime Instant Video, a feature with over 17,000 movies and TV episodes for Prime members for no additional fee. Gold subscribers can locate the app in the Xbox LIVE Marketplace for Xbox 360. Shares of Netflix traded down 2.68% ($1.88) recently at $68.34.
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Walt Disney Co. (NYSE:DIS): Thanks to the success of The Avengers and increased margins for ABC, Morgan Stanley enhanced Disney estimates. Shares are Overweight.
DIRECTV, Inc. (NASDAQ:DTV): Derek Chang is out as executive VP of Content Strategy and Development at DirecTV, and being succeeded by York in early July. Most recently, York served as former president of Content and Advertising Sales for AT&T. DirecTV shares traded recently at $46.32, down $0.08 (0.17%).
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