LOS ANGELES (AP) — Netflix shares surged to an all-time high following the news that Barack Obama and Netflix reportedly are negotiating a deal for the former president and his wife, Michelle, to produce shows exclusively for the streaming service.

The proposed deal was reported Friday by The New York Times, which cited people familiar with the discussions who were not identified.

The report sent shares to an all-time high of $326.74 earlier. The Los Gatos, California, company's stock reached $326.07 in afternoon trading, marking a gain of nearly 3 percent.

Netflix did not respond for a reques...