Netflix Shares Fall as Disney Shares Rise After Streaming Service Announced
April 12 2019 - 11:49AM
Dow Jones News
By Stephen Nakrosis
Shares of Netflix Inc. (NFLX) are trading lower in Friday's
market, just a few days before their next earnings release and a
day after Walt Disney Co. (DIS) unveiled plans for its own
streaming service.
At 11:10 a.m. ET, the company's shares had fallen 3.67% to trade
at $354.14. Trading was brisk, with over 8.3 million shares already
trading. The stock's 65-day average volume is around 8.5
million.
On Thursday, Disney announced it would inaugurate its own
streaming service in November, drawing on its massive archives of
films and television programs, its Marvel and Star Wars franchises
and other properties. That company's shares have risen 8.95% to
trade at $127.01, with very heavy trading taking place.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 12, 2019 11:34 ET (15:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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