Netflix shares pared their worst drop in two years, regaining a key support level for the stock.

It pioneered online streaming of TV and movies, but now faces backlash and competition. Joe Nocera asks can Netflix compete? 

Time Warner yesterday reported a higher-than-expected quarterly profit and boosted its stock buyback programme but the news failed to prevent its shares from tumbling 11% a day after Rupert Murdoch withdrew his bid for the company.