News from Google Could Provide Lift to Netflix (NFLX)
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Netflix (Nasdaq: NFLX) is indicated higher following relatively good news from a key rival issued earlier.
According to earlier reports, Google (Nasdaq: GOOG) is looking to stop its Google TV Ads in AdWords business. This might sound bad, but there is a sprouting flower here: Google said the reason is that more and more consumers are turning to digital content and watching across different devices.
What that means is more viewers are taking in their TV content via names like Netflix and Coinstar (Nasdaq: CSTR), not to mention Hulu and Amazon (Nasdaq: AMZN) Prime Instant Video.
Bears on the news might hint that Netflix is available on Google TV. But, Google TVs primary focus was to make watching regular TV more interactive. You could search for items like a long-lost TV or movie you've forgotten about, watch YouTube, use Google Play, and so on.
However, Google TV never really caught on. We've included a link to the remote control to one of its devices, which looks something like this. (It's actually on the "Related Articles" tab at the top.)
Who knows how much of a boost Netflix, et al, will get from the headline news. Shares are up about 0.2 percent at last check.
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According to earlier reports, Google (Nasdaq: GOOG) is looking to stop its Google TV Ads in AdWords business. This might sound bad, but there is a sprouting flower here: Google said the reason is that more and more consumers are turning to digital content and watching across different devices.
What that means is more viewers are taking in their TV content via names like Netflix and Coinstar (Nasdaq: CSTR), not to mention Hulu and Amazon (Nasdaq: AMZN) Prime Instant Video.
Bears on the news might hint that Netflix is available on Google TV. But, Google TVs primary focus was to make watching regular TV more interactive. You could search for items like a long-lost TV or movie you've forgotten about, watch YouTube, use Google Play, and so on.
However, Google TV never really caught on. We've included a link to the remote control to one of its devices, which looks something like this. (It's actually on the "Related Articles" tab at the top.)
Who knows how much of a boost Netflix, et al, will get from the headline news. Shares are up about 0.2 percent at last check.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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