NEW YORK (TheStreet) -- Netflix (NFLX) shares are down -5.4% to $304.70 as Internet stocks have led the Nasdaq down -0.9% to 4,038.77 today.
Amid the broader sell off comes news that Microsoft (MSFT) will begin producing original programming to stream on its its Xbox One and Xbox 360 platforms starting in June.
Netflix, which has seen recent success with its House of Cards and Orange Is the New Black original programming, now boasts a record 35 million subscribers and growing international traction due in large part to its foray into original programming.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates NETFLIX INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."