Netflix (NFLX) Shares Fall as Verizon (VZ) May Be Planning Video Streaming Service
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Shares of Netflix (Nasdaq: NFLX) are dipping in mid-day trade following a Reuters headline which says Verizon (NYSE: VZ) may be planning a video streaming service to rival Netflix and cable. A source is saying the service will be outside of the Fios TV markets offering.
Netflix shares pushed below the $68 level as the rumor began making the rounds. The stock last traded at $67.70, down more than 3.5 percent from Monday's closing price. Verizon shares, while up more than 1 percent this afternoon, do not seem to be reacting much to the headline.
Netflix shares pushed below the $68 level as the rumor began making the rounds. The stock last traded at $67.70, down more than 3.5 percent from Monday's closing price. Verizon shares, while up more than 1 percent this afternoon, do not seem to be reacting much to the headline.
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