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Netflix Nails DreamWorks Deal: Tech Winners

NEW YORK( TheStreet) Netflix (NFLX - Get Report) shot up 7.12% to $229.23 after the company signed its biggest original content deal ever.

The video streaming company is teaming up with the powerhouse of kid's content, Dreamworks Animation (DWA). Previously, Netflix had a deal for children's content with Viacom, but the contract ended. The deal with DreamWorks, however, will cut out the middle man, and the company will get exclusive access to over 300 hours of original content.

Netflix has started to build a foundation of its own content, after releasing the political drama House of Cards, and adopting a bonus season of the cult-followed television series, Arrested Development.

The price of the deal was not disclosed, nor was the length of the contract.

Shares of Dreamworks closed higher on the day, up 4.08% to $23.74.

Zillow (Z - Get Report) jumped 5.41% to $55.96 on the back of some strong housing data.

The National Association of Home Builders showed that sentiment was much stronger-than-expected, coming in at a reading of 52 for June, versus the expected reading of 45.

Zillow continued its television advertising campaign, launching its second commercial. The commercial, titled "Find Your Way Home", will feature a 30 second spot and a 60 second spot, both of which depict a family in process of house-hunting. For extra sentimental effect, the ad reveals at the end that the dad is a soldier overseas. Zillow's new campaign will be aired on major networks such as HGTV, CNN, Lifetime, and USA.

Zillow noted that it would channel more spending towards marketing in a recent earnings call. This year, the company tripled its advertising expenses, spending $15 million in this department.

-- Written by David Webster in New York

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