Netflix Inc.’s stock has erased an earlier loss to trade sharply higher in afternoon trade Thursday, enough to put it near the top of the S&P 500’s gainers list. The stock surged 5.6%, after being down as much as 1.3% at its intraday low, which was hit within 10 minutes of the open. Earlier, Netflix announced on its tech blog that it worked with Facebook Inc.’s Oculus to develop an app for virtual-reality viewing on Samsung Gear VR. Netflix’s stock was currently the second-biggest percentage gainer within the S&P 500 , behind only the 8% jump in Newmont Mining Corp.’s shares.
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