Netflix shares rally 3.5% as NBCUniversal acquisition fears ease

On July 2 Netflix stock rose 3.2-3.5% in morning trading after Wall Street Journal coverage softened earlier Reuters speculation that Netflix was preparing to bid for NBCUniversal. The rebound follows a 3.8% gain to $74.14 on July 1 when Comcast’s CEO and analysts dismissed near-term takeover talk, easing concerns after the stock’s 43% drop over the past year and proximity to its $70.86 52-week low. Attention now shifts to Netflix’s July 16 Q2 earnings, where management is expected to address M&A versus organic growth priorities amid a $105 Wells Fargo price target.