SAN FRANCISCO, Sept. 8 (UPI) -- Reports that TiVo and Netflix, both of California, may join forces drove TiVo stock up Wednesday for a second day but left Netflix shares down.
Newsweek magazine published a report this week the two were joining forces to rent downloadable movies over the Internet.
TiVo has become synonymous with digital video recording, a tapeless video technology it helped pioneer in the late 1990s, the San Francisco Chronicle reported.
Netflix, meanwhile, has made its mark renting DVD movies by mail, with subscribers placing their orders on the Netflix Web site.
Each company has about 2 million subscribers.
Shares of TiVo climbed Wednesday about 0.59 percent, while Netflix fell 2.53 percent.
On Tuesday TiVo shares had soared almost 15 percent, and Netflix rose more than 7 percent.
