Monday, July 23, 2007

Netflix drops after price cuts

(Reuters) - Two other analysts maintained their ratings but said the lower prices would cut deeply into Netflix's profits this year and could indicate that the company was losing ground to rival Blockbuster Inc .




Netflix said on Sunday it would cut its monthly subscription prices by $1 on plans that offer one and three DVDs out at a time, bringing them in line with similar plans offered by Blockbuster.


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