Netflix shares fall after downgrade to neutral rating
Netflix Inc. shares NFLX, -1.91% fell 1.6% in premarket trade Friday, after Buckingham Research Group downgraded the stock to neutral from buy. Analyst Matthew Harrigan cited the company's sensitivity to a market pullback, investor angst over the coming competition from Disney's planned streaming service and WarnerMedia's and NBCUniversal's long-term ambitions, along with management flux following a report that the company's chief marketing officer is leaving.
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