HBO Streaming Announcement Sends Netflix Stock Tumbling

On Wednesday, HBO announced it will offer a standalone streaming service that will let you watch the network’s programming without a cable subscription. The news sent Netflix stock tumbling […] Though the stock rallied a bit after an initial drop, it was still down 3 percent to $435.63 at around 12:30 p.m. Time Warner Inc., HBO’s parent, was up nearly 2.5 percent to $72.39. By 2:45 p.m., Netflix’s stock price had recovered somewhat, back up to $441.75. HBO’s announcement comes on the same day that Netflix is expected to announce its quarterly earnings and seems timed to poke at the streaming company. – Emily Cohn,HuffPost Tech
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