Netflix (NFLX -2%) gives back some of yesterday's big gains after Citi starts coverage at...

|By:, SA News Editor

Netflix (NFLX -2%) gives back some of yesterday's big gains after Citi starts coverage at Neutral: analyst Mark May thinks shares will be range-bound until a price hike (not expected for at least 12 months) is announced. He estimates every 5% gain in domestic streaming ARPU will yield $65M in incremental contribution profit. Meanwhile, Netflix's decision to host a moderated live video talk following its Q2 report is fueling speculation strong numbers will be delivered. Janney's Tony Wilbe: "It’s an unprecedented format, and not one you’d do if you had bad news."