Netflix (NFLX) Stock Climbs on Star Trek Deal

Netflix (NFLX) has closed a deal with CBS (CBS) to stream the new ‘Star Trek’ series as well as the original.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Netflix (NFLX) - Get Report  are gaining 1.07% to $99.44 this morning after the company announced that it has secured streaming rights to CBS's (CBS) new "Star Trek" series produced for its own paid streaming service, CBS All Access.

The new "Star Trek" will premiere in January 2017, and Netflix will stream each new episode within 24 hours of the initial broadcast, according to a company statement.

Additionally, all existing episodes of the "Star Trek" series - including "Star Trek: The Original Series" and "Star Trek: The Next Generation" - will be available to stream on the Los Gatos, CA-based company's website by the end of 2016.

The series will be streamed in 188 countries.

"We're thrilled to partner with CBS to bring the beloved series to Trekkies around the world," Sean Carey, VP of global television at Netflix, said in a statement.

Netflix is set to announce its second quarter 2016 earnings this evening after the market close.

Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and increase in net income. However, TheStreet Ratings also finds weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: NFLX

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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