Netflix CEO Reed Hastings has been banging the drum on Facebook and in Washington, DC, over ISPs’ use of bandwidth caps, and according to my sources was at least partly responsible for getting those caps on the agenda of the Senate Commerce Committee. But he’s having less success keeping Wall Street happy. Monday’s first quarter earnings report, which featured a $4.6 million net loss for the period, sent shares of the company into a 12.5 percent dive on Tuesday, and the downward trajectory continued through Wednesday morning, which saw the shares down another 5 percent in midday trading. The sell-off has rekindled speculation that Netflix might now be an attractive takeover target for someone, which means Hastings could soon find himself fending off unwanted suitors as well. The question for investors is whether management can stay focused on the job at hand as the company tries to dig out of the deep hole if put itself in last year with the mishandling of its price hike.