Netflix Falls as Warner Bros. Offers Facebook Movies
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Netflix Inc., the mail-order and online movie-rental service, dropped 5.8 percent in Nasdaq trading after Warner Bros. said it will offer films for purchase or rental through Facebook Inc.
Netflix fell $11.95 to $195.45 at 4 p.m. New York time. Before today, the stock had gained 11 percent this year and more than tripled in 2010. Time Warner Inc., Warner Bros.’ parent, lost 35 cents to $36.43 on the New York Stock Exchange.