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  • Blockbuster Closing 282 Stores; Netflix Cuts Price of 2-DVD Plan [View article]
    Well, someone's already making a lot of money off this:
    <blockquote>
    <b>Blockbuster, Netflix Duel for Customers; Short Sellers Profit</b>

    ...About a third of Blockbuster's float, or shares available for trading, was borrowed and sold to profit from falling prices. Traders sold short 20 percent of Netflix...

    ``You're not going to have a winner and a loser -- you're going to have two subpar performers,'' said Alan Lancz, who helps manage about $100 million as president of Alan B. Lancz & Associates in Toledo, Ohio. Lancz has had a short position in Netflix since April 2006. ``It's harder and harder to maintain a customer base, let alone grow it at a reasonable level. I don't see that changing soon.''...
    </blockquote>

    Source:
    www.bloomberg.com/apps...;sid=arKUh3RuTKvM
    Jul 23 11:56 am |Rating: 0 0 |Link to Comment
  • Netflix Slides Ahead Of Earnings Report Monday After Cutting Subscription Prices [View article]
    Don't you love the sell side analysts? They're always so timely:
    <blockquote>
    <b>Jefferies &amp; Co downgrades Netflix (Nasdaq: NFLX) from Buy to Hold. Price target lowered from $26 to $16.
    </b>

    Jefferies analyst, Youssef H. Squali, says, "We are downgrading NFLX to Hold following the company's "quiet" announcement last night of a price cut for two of its most popular online DVD rental plans by $1. This implies to us that management's FY07 guidance and Street estimates are likely too high.
    </blockquote>

    Source:
    www.streetinsider.com/...;+Co+Downgrades+Netfli...
    Jul 23 11:46 am |Rating: 0 0 |Link to Comment
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