NETFLIX EARNINGS PLUNGE — AS DOES ITS STOCK

Netflix, which continues to show ambivalence in support of its original DVD-by-mail operation, reported an 88-percent drop in third-quarter net income Tuesday, triggering another sell-off of shares by investors. At mid-morning Netflix shares were down nearly 15 percent to 58.55 on the Nasdaq but regained some of its losses after it was reported that its […]

NETFLIX SHARES NOSEDIVE

Netflix shares plunged 36 percent today (Tuesday), trading at about $75.00 — their lowest level in 18 months. Since the company announced just three months ago that it was instituting a major price increase for subscribers wishing to continue receiving DVDs by mail as well as stream them, $12 billion of its market value has […]

SUBSCRIBERS FLEEING CABLE

Cable companies lost 711,000 customers during the second quarter — the worst “churn” rate in history, according to figures released by SNL Kagan on Monday. While many of them — 414,000 — moved to telephone companies that are increasingly offering fiber-optic connections to compete with pay-TV services of their own, at lower prices, the overall […]