Netflix Hits Record High as CEO Recovers From Marketing Missteps

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Netflix Inc. eclipsed its mid-2011 intraday high, capping a two-year recovery for Chief Executive Officer Reed Hastings from marketing missteps that angered customers and cratered the stock.

Netflix, which has more than tripled this year to lead the Standard & Poor’s 500 Index, gained as much as 4% to $305.92 today in New York. The stock had previously peaked at $304.79 intraday on July 13, 2011, closing that day at $298.73. One day earlier, Netflix had separated customers’ DVD and streaming accounts, raising prices for those who bought both — setting the stage for a backlash that ultimately cost the video service 800,000 monthly subscribers. Read more...

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