Board approves plan to buy $150 mil worth
LOS GATOS — Online movie-rental company Netflix said Thursday its board approved a program to buy back up to $150 million worth of additional stock this year.
The plan adds to a separate $100 million repurchase program announced in January. The company has completed that buy back, repurchasing about 3.8 million of its shares at an average price of $25.96 per share.
Netflix shares jumped 78¢, or 2.6%, to $31.40 in after-hours trading. The stock dropped $1.48, or 4.6%, to end regular trading at $30.62 following a broad-based sell-off in the markets.