Netflix Gives Back Gains (NFLX)

Shares of Netflix NFLX were off to a strong start this morning after the company announced it had joined with a number of the world's leading consumer electronics companies to develop Netflix-branded one click buttons on remotes that operate internet connected TVs, Blu-ray disc players and other devices that connect the Internet to the TV. The stock was trading up as much as 3.50% in early trading. Most of those gains have evaporated, however, and NFLX is only 0.74% higher at $179.71 currently. Continue to watch this name closely. If the stock fails to react positively to today's news and closes lower, it might mean the shares have further to fall.