Netflix (NFLX +8.5%) extends Tuesday's rally as bulls go long and bears cover following positive...

Netflix (NFLX +8.5%) extends Tuesday's rally as bulls go long and bears cover following positive sell-side commentary, and a Facebook post from Reed Hastings claiming Netflix's monthly viewing topped 1B hours in June. BTIG's Richard Greenfield estimates this translates into 80 minutes of viewing per subscriber, a level that puts Netflix on par with leading cable networks.