Netflix, AOL: Tech Winners & Losers

NEW YORK ( TheStreet) -- The Nasdaq dropped 20 points, or 0.9%, to 2394 as investors pulled back on news that Greece will miss its deficit reduction targets.

Netflix ( NFLX) jumped 3.3% to $117.05 in afternoon trading Monday following news that it could revive the popular canceled comedy series Arrested Development. The series is reportedly in talks with both Netflix and Showtime to air a limited number of new episodes.

Yahoo! ( YHOO) shares rose 5% to $13.83 after announcing a news partnership with ABC in which top journalists like Katie Couric and Barbara Walters will produce original content specifically for the Web. The agreement comes as Yahoo! looks for new ways to grow its online audience to generate advertising.

Research In Motion ( RIMM) shares surged 3.5% to $21.05 as news hit that the BlackBerry maker is ahead of Apple ( AAPL) in India, the world's second largest mobile phone market, according to Bloomberg. RIM is trying to capitalize on its growing mobile business abroad while its U.S. market share continues to decline.

IBM ( IBM) shares edged up 0.9% to $176.44 as it surpassed Microsoft ( MSFT) to become the world's biggest tech company behind Apple. IBM's market cap stands at $210.8 billion, while Microsoft's is at $209.5 billion.

AOL ( AOL) shares fell 2.3% to $11.72 in afternoon trading on Monday as its Huffington Post unit announced the acquisition of Localocracy, a community-focused Web site. HuffPo also plans to launch several new verticals, including ones focused on weddings, high schoolers and baby boomers.

-- Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

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