Netflix shares closed trading today up 13 percent, less than a week after the company disappointed Wall Street with a lackluster third-quarter performance.
Anyone looking earlier for news to explain what might be driving the spike would have been disappointed. But Forbes is now reporting that an unconfirmed rumor was behind the run. According to the magazine, word spread on Wall Street that Microsoft was trying to acquire Netflix. CNET also heard these rumors and saw an e-mail from a Wall Street banking firm that showed one rumor circulating indicated Microsoft was offering $90 per share for Netflix.
A Microsoft … Read more