Netflix (NFLX) shares rose nearly 4% on Wednesday. The stock closed at $74.19. Shares rebounded from a level near the 52-week low of $70.86.
A Wall Street Journal report eased speculation regarding a potential bid for NBCUniversal. Investors reacted with relief that the company is not pursuing a costly acquisition.
A June 29 Reuters report previously suggested Netflix might buy NBCUniversal following its spinoff from Comcast. Market concern stemmed from Netflix's recent unsuccessful bid for Warner Bros. Discovery. The Wall Street Journal clarified that NBCUniversal is a general deal target rather than a specific Netflix objective.