Netflix releases iPhone app, stock jumps

netflix.top.png By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- Netflix unveiled its long-awaited app for the iPhone on Thursday, sending the company's shares almost 2% higher.

The free app lets Netflix members stream TV episodes and movies to their Apple (AAPL, Fortune 500) iPhone or iPod Touch for no additional cost.

"Apple has changed the game for mobile devices," Reed Hastings, Netflix co-founder and chief executive officer, said in a statement.

The shows can be streamed over both Wi-Fi and 3G networks, and they are organized based on members' personal preferences, genres, new arrivals and individual instant queues.

Netflix (NFLX) shares gained 1.3% to end at $125.84 on Thursday. The stock has been on steady upward streak this year, crossing $100 for the first time in April after the company reported a blowout first quarter.

"Netflix Android" was a trending Google search on Thursday, and Twitter users were also grumbling about when the app would be available for their Android phones.

But Netflix is already available beyond the standard television. Video game consoles such as the Nintendo Wii let users stream to their TVs, and an iPad app has been around since April.

Earlier this month, Netflix announced an agreement with pay-cable movie channel Epix to stream films online from three major movie studios.

Netflix has been working to expand its reach as its competitors, includingCoinstar's (CSTR) Redbox and Wal-Mart (WMT, Fortune 500), also look to add streaming services down the road, and HBO, Hulu and Apple's iTunes build their online content. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,944.35 24.76 0.15%
Nasdaq 4,525.11 -2.40 -0.05%
S&P 500 1,983.06 1.46 0.07%
Treasuries 2.42 0.01 0.50%
Data as of 11:25am ET
Company Price Change % Change
Apple Inc 100.48 -0.06 -0.05%
Bank of America Corp... 15.46 0.02 0.10%
Staples Inc 11.32 -0.30 -2.58%
General Electric Co 26.30 0.25 0.94%
Facebook Inc 74.91 -0.38 -0.50%
Data as of 11:10am ET

Sections

Macy's must pay a $650,000 fine to settle complaints that it's staffers wrongfully accused minority shoppers of stealing. More

Small business owners say the economy is still their biggest challenge, which keeps them from expanding and hiring, according to a CNNMoney-Manta survey. More

Get ready for a barrage of hospital hacks. The health care industry isn't protecting your data. Here's why. More

Small business owners say the economy is still their biggest challenge, which keeps them from expanding and hiring, according to a CNNMoney-Manta survey. More

When hairdresser Mark Bustos isn't cutting the hair of fashion designers and real estate moguls, he's traveling around the world giving free haircuts to the homeless. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.