Business

Market Movers

Netflix leads S&P 500 higher after upgrade

Netflix relies on DVDs but is pushing video streaming.

Associated Press/File 2007

Netflix relies on DVDs but is pushing video streaming.

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Netflix Inc. led the S&P 500 higher after an analyst at Pacific Crest Securities said the stock will probably climb as the company adds subscribers. Netflix’s database of members’ viewing habits should give it an edge in creating new shows like the popular “House of Cards” saga and draw more people to sign up for its video-streaming service, the analyst said. Pacific Crest raised its price target to $225, calling the company “the clear global leader in subscription streaming video.”

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