Netflix's Stock Pulls Back After Carl Icahn Said He Sold His Stake

Shares of Netflix Inc. pared some gains in morning trade Wednesday, after billionaire investor Carl Icahn tweeted that he sold the last of his holdings in the streaming video service. The stock was up 1.8%, but had been up as much as 3.7% at an all-time intraday high of $706.24 earlier in the session. The stock got a boost after Netflix announced late Tuesday that it would enact a 7-for-1 stock split. The latest regulatory filings showed that Icahn owned 1,411,926 shares of Netflix as of March 31. That made Icahn the ninth-largest shareholder, according to FactSet. Icahn also said in his tweet that he believes Apple Inc.'s stock represents the same opportunity we said Netflix shares offered several years ago. Apple's stock climbed 1.8% in morning trade. Netflix's stock, which is still on track to close at a record high, has doubled year to date, while Apple shares have surged 17% and the S&P 500 has gained 3%.