Why Netflix Was a Star Stock Today
Many investors have become notably more bearish on Netflix (NASDAQ: NFLX) lately, but you wouldn't know that by looking at the stock's performance on Wednesday. It surged nearly 5% higher on the day, thanks to an article in a top financial news outlet highlighting some potentially beneficial moves it's making, and an analyst recommendation upgrade.
The article was published Wednesday morning in the finance world's newspaper of record, The Wall Street Journal. Citing "people familiar with the matter," the report states that Netflix is actively reviewing its operations for areas in which it can cut costs. Among other activities currently being assessed are its real estate holdings and cloud computing expenses.
In the personnel sphere, the article's sources say the company has actively been hiring more junior staff, presumably because such individuals require lower salaries.
Source Fool.com
