Netflix shares sink in early trading

Netflix shares plunged as the market opened Tuesday after being battered in pre-market trade following disappointing financial earnings and outlook on Monday afternoon.Shares of the once high-flying stock and Wall Street darling were down 35% at $76 as a handful of analysts cut their recommendations on the company. Janney Capital slapped a ''sell'' on the stock and slashed its price target to $51 from $102 saying Netflix' business model isn't sustainable given higher costs and a weakening subscriber base.In a QandA Monday, CEO Reed Hastings announced a halt to international expansion since it was eating into profits. He focused on content as the company's future but noted a competitive, shifting and fragmented landscape. Contact the Variety newsroom at news@variety.com