Company News: Netflix, Wal-Mart, FedEx, MF Global, Huawei
Netflix: Tuning out the skeptics
Netflix’s shares rose 24 percent on April 23 after it reported signing up more than 2 million new U.S. customers in the first quarter, exceeding analysts’ estimates. The video-streaming service, which now counts 29.2 million U.S. customers, is the best-performing stock in the Standard & Poor’s 500-stock index this year, with a rise of 134 percent since January. The strong results come two years after Netflix angered customers by raising prices and trying to split its online streaming business from the DVD-by-mail service. Netflix, which has been signing exclusive studio deals and original shows such as the drama House of Cards, also added 1 million subscribers internationally.
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