August 26th, 2010
03:01 PM ET

Netflix releases iPhone app, stock jumps

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 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 shares were up 1.7% to $126.33 in afternoon trade 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.

July 15th, 2010
04:53 PM ET

Goldman settles with SEC for $550 million

Goldman Sachs paid $550 million to settle charges of defrauding investors in a sale of securities tied to subprime mortgages, the Securities and Exchange Commission said Thursday.

Goldman shares jumped almost 3 percent in after-hours trading on the announcement, as many predicted the company would be forced to pay $1 billion to settle the case. The stock rose more than 4 percent in regular trading due to reports that a settlement was imminent.

Read the full story on CNNMoney.com.