Los Gatos, Calif. - Online DVD rental service Netflix (NASD: NFLX) announced this week that its board has authorized a $150 million stock repurchase program, which will run through the end of 2008.

The company said the new authorization is in addition to the $100 million repurchase authorization it announced in January, which concluded later that month after the company repurchased approximately 3.8 million of its shares at an average price of $25.96.

Shares in Los Gatos, Calif.-based Netflix were up 2% on Friday afternoon to $31.27.

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