Netflix shares tumble to 20-month low after company raises $400m by selling back convertible debt

Netflix Inc's shares dropped as much as 7 per cent on Tuesday after it warned of a loss for 2012, a move that prompted several Wall Street analysts to cut their price targets for the online video and DVD rental company.

Analysts at Caris, Janney, UBS and Wedbush Securities all slashed their price targets for Netflix, citing the company's outlook.

Netflix had previously said it anticipates a loss only in the first quarter of 2012.

The problem, it said, is that the company has recently lost a ‘significant’ number of customers, who objected to Netflix's decisions to raise its prices and split up its streaming and DVD business -- an idea it later dropped.

Netflix's outlook adjustment came in a late filing on Monday, which said it had raised $400 million in new capital by selling convertible debt to long-time backer Technology Crossover Ventures and stock to funds managed by T.Rowe Price.


Read more: http://www.dailymail.co.uk/news/article-2064963/Netflix-stocks-free-fall-shares-tumble-20-month-low-raising-400m-selling-debt.html#ixzz1f07x4Vey

LEGO Harry Potter: Fair review for years 5-7

Lego Harry Potter: Years 5-7 is the 2011 game in the Lego video game franchise, developed by Traveller’s Tales and published by Warner Bros. Released on November 11th, 2011 in North America and the 18th in Europe along with the Harry Potter and the Deathly Hallows – Part 2 Blu-ray/DVD release.
Based on the Lego Harry Potter line and the final four films in the Harry Potter series we thought it would be a good idea to check out a review of the popular wizard and his friends in LEGO attire. After the recent LEGO Pirates of the Caribbean and Star Wars III, it is intriguing to see if latest edition is worth a mention.
Cheat Code Central regarded this game as well textured and much like the movies. The animation is good with great characters presenting the relevant body language including wonderful audio sounds. The puzzles and spells give a realistic and authentic LEGO experience. Repetitive usage of abilities when completing puzzles can feel more like a routine than a game. The combat side is weak and the Star Wars version was preferred to in this aspect.

Read more - http://www.inentertainment.co.uk/20111121/lego-harry-potter-fair-review-for-years-5-7/

Netflix subscribers offered class-action payout from Wal-Mart

NEW YORK (CNNMoney) -- Millions of current and former Netflix customers woke up Wednesday to an e-mail about a class-action lawsuit involving the price of online DVD rentals.
It's legit, and it's the latest twist in a legal saga that started two years ago.

In May 2005, Wal-Mart and Netflix struck a pact: Wal-Mart would scrap its struggling DVDs-by-mail subscription service and instead encourage its customers to sign on with Netflix. In return, Netflix agreed to promote Wal-Mart's DVD sales business.
But in 2009, a group of Netflix subscribers banded together and filed a lawsuit charging the two companies with collusion. The gist of their complaint is that the two companies agreed to carve up the market and stay off each others' turf: DVD rentals for Netflix and DVD sales for Wal-Mart. The deal helped Netflix entrench itself as the market's dominant player and raise its subscription prices, the lawsuit alleges.

Article source - http://money.cnn.com/2011/11/16/technology/netflix_class_action_lawsuit/

New releases for Nov. 8, 2011: Rascal Flatts’ first live album out today, “Harry Potter and the Deathly Hallows: Part 2″ out Friday

Country music trio Rascal Flatts, which includes Picher-bred guitarist Joe Don Rooney, release today “The Best of Rascal Flatts LIVE,” the group’s first live album. Actually, the album is coming out on Lyric Street Records/Hollywood Records, the band’s former record label.
The album will include “Bob That Head,” “Bless the Broken Road,” “Still Feels Good,” “Here’s to You,” “Stand,” “These Days,” “What Hurts the Most,” “Life Is a Highway” and a medley of “I’m Movin’ On,” “Skin (Sarabeth)” and “Feels Like Today.” For an encore, the album offers the band’s cover version of Boston’s “Foreplay/Long Time” and the Edgar Winter Group’s “Free Ride.”
Rascal Flatts recorded for Disney’s Lyric Street imprint until the label shuttered in 2010; Hollywood Records is another Disney imprint. The trio is now signed to Big Machine Records, which released the Flatts’ latest record, “Nothing Like This.”
The hit-making band will compete for the title of Country Music Association vocal group of the year during the 45th Annual CMA Awards, airing live from 7 to 10 p.m. Wednesday on ABC. The band also will perform duets with pop star Natasha Bedingfield and R&B legend Lionel Ritchie. Make plans to follow my live blog of the show Wednesday night.
Read more - http://blog.newsok.com/bamsblog/2011/11/08/new-releases-for-nov-8-2011-rascal-flatts-first-live-album-out-today-harry-potter-and-the-deathly-hallows-part-2-out-friday/

Netflix represents 32.7% of North America's peak Web traffic

Despite losing 800,000 members, Netflix still accounts for a whopping 32.7% of all North American peak fixed access downstream traffic, according to Sandvine's fall 2011 Global Internet Phenomena Report. That's up nearly 10% since spring 2011 and almost double the peak traffic of the next largest source, HTTP at 17.5%.
Netflix pumps nearly three times as much bandwidth as YouTube and it accounts for 29% of peak aggregate traffic, ahead of HTTP's 16.6% and BitTorrent's 13.5%. In fact, the only statistics not dominated by Netflix are upstream-related. It's responsible for 7.7% of upload traffic, behind HTTP's 11.5% and BitTorrent's 47.6%.
As evidenced by its loss of nearly a million subscribers, Netflix has been treading some harsh water in recent months following several unpopular decisions. While this has prompted many to question the company's future, Sandvine doesn't foresee a significant decline in the service's traffic because it's so widely available.
"With so many Netflix-capable devices, the addressable market of the service is already enormous and will only increase, so it's hard to envision a scenario in which absolute levels of Netflix will decline," the report said. "However, Netflix is facing increased local competition, and as a result new services might grow at a faster rate."
Read more - http://www.techspot.com/news/46048-netflix-represents-327-of-north-americas-peak-web-traffic.html