Monday, January 7, 2013

Netflix faces SEC probe over Facebook post | Essentials

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Netflix faces SEC probe over Facebook post

The Market
The Market by Iman Mosaad
License (according to Flickr): Attribution-ShareAlike License
Excerpt:

In a Facebook posting on July 5, Hastings said that Netflix customers were viewing more than 1 billion hours of video content a month. The same information had appeared on the company's blog the month before. But in neither case did the company issue a formal press release or make a separate filing with the SEC disclosing the billion hour statistic. The posting was widely reported and Netflix stock rose 13% the day of the posting. On Thursday, Netflix disclosed in a new posting, an SEC filing and a news released that Hastings and the company received a Wells Notice from the SEC. The notice says the agency staff will recommend regulators institute a cease-and-desist proceeding and/or bring a civil injunctive action for violations of the agency's fair disclosure rules.

People:

Hastings

Overall Sentiment: 0.289777

Relevance: 0.885916

SentimentQuote
0"First, we think posting to over 200,000 people is very public, especially because many of my subscribers are reporters and bloggers," he said. ...
0.0790375"Second, while we think my public Facebook post is public, we don't currently use Facebook and other social media to get material information to investors; we usually get that information out in our extensive investor letters, press releases and SEC filings," Hastings added. ...
0.0790375"Second, while we think my public Facebook post is public, we don't currently use Facebook and other social media to get material information to investors; we usually get that information out in our extensive investor letters, press releases and SEC filings," Hastings added. "We think the fact of 1 billion hours of viewing in June was not 'material' to investors."
Sentiment Stats:
  • Number of Quotes: 3
  • Aggregate Sentiment: 0.158075
  • Mean: 0.052691666666667
  • Standard Deviation: 1.4142135623731

Key:

  • Aggregate Sentiment is meant to be an indicator of an individual's overall sentiment.
  • The Mean is meant to be an indicator of an individual's average comment sentiment.
  • The Standard Deviation, when there are enough quotes, will indicate an individual's consistency of sentiment (i.e. a Standard Deviation of 0 would mean they were very consistent in their sentiment and 1 would mean they were very inconsistent).

Note that quote stats are likely to be meaningless beyond the aggregate score due to the tiny sample size. However, they are always provided just in case you find something useful there.

Additional Info:

Organization: SEC

Overall Sentiment: 0.173033

Relevance: 0.753159

Company: Facebook

Overall Sentiment: 0.0660407

Relevance: 0.639814

Company: Netflix

Overall Sentiment: 0.144469

Relevance: 0.613595

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