Leading off Friday's cable news roundup, the hits keep coming at Netflix Inc. (Nasdaq: NFLX), and we're not talking about movies that killed it at the box office or TV shows that topped the
The Nielsen Co. ratings.
Netflix stock took an 11 percent haircut Thursday, closing at a new 52-week low of $113.19, as investors fretted about the competitive prospects of Microsoft Corp. (Nasdaq: MSFT)'s Xbox TV platform and the new Kindle Fire tablet, which will bake in Amazon.com Inc. (Nasdaq: AMZN) streaming video service. Netflix, which has been reeling amid a recent price hike and a reduced subscription forecast, has seen its market cap drop by $10.1 billion in just 10 weeks, notes The New York Post. Netflix shares were down $3.38 (2.99%) to $109.81 in pre-market trading Friday. (See Netflix Does the Splits and Netflix Chops 1M Subs From Q3 Forecast.)
CableLabs has unveiledPeerConnect, a registry that connects cable operators so they can exchange data for voice and video calls, SMS messages and other IP apps over their respective networks. Among examples, Shaw Communications Inc. is using PeerConnect as a number translation service, and Cox TMI Wireless is using it as a component of its SMS-MMS service. CableLabs says the registry has been in production since 2009.