Netflix to Buy Back Up to $100 Million in Stock
Los Gatos, Calif. - Shares of Netflix (NASD: NFLX) rose sharply on
Thursday after the online DVD rental service said that it would buy back up to
$100 million of its stock through the end of 2008.
The company plans to
repurchase its shares from time to time on the open market and through privately
negotiated transactions.
The news sent shares of Netflix up nearly 10% in heavy
trading on the Nasdaq.
Related Links:
http://netflix.mediaroom.com/index.php?s=43&item=264
http://www.netflix.com
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