Stock watching: Thumbs up from Netflix investors, rave reviews for Yelp

The fireworks aren’t over for a couple of Bay Area tech companies that are seeing their shares rise sharply today:

Netflix shares are soaring more than 14 percent to $82.60 as of this post as the Los Gatos entertainment provider rides the wave it started Tuesday, when its shares rose more than 6 percent after it reported that subscribers watched more than 1 billion hours of video last month for the first time. According to the Wall Street Journal’s MarketBeat blog, another factor for the surge is that a Citi analyst reiterated his bullishness on Netflix this week. As Biz Break reported, Netflix shares have been on a roller-coaster ride this year: 66 percent higher in the first quarter, 40.5 percent lower in the second quarter. They are still more than 70 percent lower than the all-time high of nearly $300 they reached last summer, before the company’s now-infamous mishandling/rushing of its ambition to become a streaming video-only service.

• Shares of San Francisco-based Yelp also are climbing higher, up more than 7 percent to $26.50 as of this post. The online-reviews company looks to be getting a boost from a Wednesday report that its offerings, especially its check-in service, will be integrated with Apple‘s maps offering. That could mean a huge increase in users. Additionally, one analyst told Bloomberg that the reports that Apple is preparing an iPad mini could also help Yelp gain more users. Yelp went public in March.

 

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  • David

    All of the new movie releases on DVD are never available for streaming subscribers. Whatever legal hoops Netflix needs to workout with the frugal motion picture industry needs to be addressed, I think a lot of customers are hanging onto their streaming subscription not for movies but for access to television series. That’s the only reason I am still a customer.

 
 
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