Netflix's stock tumbles on heavy volume to pace S&P 500 decliners
Netflix Inc.'s stock tumbled 8.4% in afternoon trade Tuesday, enough to make it the biggest percentage loser within the S&P 500. Volume as of 2:45 p.m. Eastern was about 27.9 million shares, nearly 50% above the full-day average. The video-streaming service is facing more competition, as Amazon.com has begun allowing Prime Video users to download movies and TV shows to phones and tablets operating Apple Inc.'s iOS and Google Inc.'s Android operating systems. Amazon boasts it is the only subscription streaming service to offer this feature, at no extra fee. Separately, Apple has reportedly spoken to Hollywood executives about producing exclusive content.
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