Netflix (NFLX) shares received a boost on Monday on vague rumors of a takeover offer.
Theflyonthewall.com reported on Monday that the 5.5% jump to $42.32 is attributed to "renewed takeover speculation."
Granted, about two years ago it was widely rumored that Netflix was going to be acquired by Amazon.com (AMZN), but nothing came of it.
Netflix is in the process of gaining market share in the movie rental business, primarily from rival Blockbuster (BBI).Last week, the company announced that it will stream movies to Sony's (SNE) Bravia high-definition, Internet-connected TVs starting this fall. It's also planning to expand its streaming services to the Roku player, Microsoft's (MSFT) Xbox 360 video-game console, and recorders made by TiVo (TIVO). In April, Netflix posted a 68% surge in first-quarter earnings to $22.4 million, or 37 cents per share, and said it has added 1.6 million subscribers since September, giving it more than 10 million customers.
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