Netflix Inc. lost as much as $8 billion in market capitalization in a few minutes of trading on Walt Disney Co.’s news of its upcoming -- and cheaper -- rival streaming service.
Disney unveiled details of the service on Thursday after the close, saying it would launch Nov. 12 at a price of $7 a month or $70 a year. That undercuts Netflix, whose most popular U.S. plan costs about $11 a month.
