Netflix shares surge on news of Icahn stake
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SAN FRANCISCO Billionaire investor Carl Icahn has seized on Netflix's (NFLX) recent troubles to build a 10 percent stake in the Internet video service. Wednesday's disclosure about Icahn's stake in Netflix caused the company's stock price to surge by 16 percent in late afternoon trading. But Icahn typically wields his stakes in companies to pressure changes in management and boards of directors. He also frequently pushes for companies to consider selling themselves or to pursue other dramatic changes to boost stock prices. Netflix declined to comment Wednesday.
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Netflix shares surge on news of Icahn stake
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Icahn typically wields his stakes in companies to pressure changes in management and boards of directors
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