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    Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022.Hollie Adams | Bloomberg | Getty Images Microsoft said it will decelerate the pace of hiring new employees given current economic conditions, following similar announcements from its tech counterparts. "As Microsoft gets ready for the new fiscal year, it is making sure the right resources are aligned to the right opportunity," a Microsoft spokesperson told CNBC in an email on Wednesday. "Microsoft will continue to grow headcount in the year ahead, and we will add additional focus to where those resources go."  Microsoft shares declined 1% in extended trading after an initial report from Bloomberg, which said the software company was getting rid of job listings. Alphabet, Meta and reportedly Apple have committed to slowing down the pace of new hires. That follows years of expansion as investors rewarded revenue growth and market share gains. With inflation at a four-decade high and fears of a recession on the horizon, companies are getting more conservative. ...
    In this article WYNN ELV NFLX BKR BIIB LVS The Netflix logo is seen on their office in Hollywood, California.Lucy Nicholson | ReutersCheck out the companies making headlines in midday trading. Netflix — Shares of the streaming company popped 4.4% a day after Netflix posted a smaller-than-expected subscriber loss in the recent quarter. Netflix reported a beat on earnings but a miss on revenue. Casino stocks — Shares of Las Vegas Sands and Wynn Resorts rose 3.3% and 2.3%, respectively. The action followed a report from Reuters that Macau will reopen casinos on Saturday as it gradually eases back on Covid restrictions. Bath & Body Works — Bath & Body Works' shares slipped more than 1% after the personal care retailer trimmed its guidance for the second quarter and full year. The company cited macroeconomic issues among the reason for the cut. Baker Hughes — Shares plunged more than 8% after the oilfield services company reported disappointing second-quarter earnings. Baker Hughes reported earnings of 11 cents per share, which is half of what analysts were expecting, according to consensus...
    In this article WYNN LVS NFLX BIIB MRK BKR VIDEO1:2901:29News Update – Pre-MarketsNews BriefingCheck out the companies making headlines before the bell: Baker Hughes (BKR) – The oilfield services company reported second-quarter adjusted earnings of 11 cents per share, just half of what analysts had forecast. Revenue also fell below estimates, with Baker Hughes citing various challenges including component shortages and supply chain inflation. Baker Hughes tumbled 6% in premarket trading. Biogen (BIIB) – Biogen gained 2.4% in premarket action after reporting an adjusted profit of $5.25 per share for the second quarter. That was well above the consensus estimate of $4.06, and revenue also topped forecasts. The beat came even as Biogen said it faces increasing generic and biosimilar competition for its Tecfidera and Rituxan drugs. Netflix (NFLX) – Netflix jumped 6.1% in premarket trading after reporting subscriber losses that were substantially below expectations. The streaming service also said it would add a net 1 million new subscribers this quarter. Netflix reported better-than-expected quarterly earnings, though revenue did fall slightly shy of Wall Street estimates. Casino Stocks –...
    In this article NFLXVIDEO3:3503:35Netflix gave us less bad news than we expected, says shareholder George SeayClosing Bell: OvertimeGood enough. Netflix didn't blow the roof off its second-quarter earnings. It announced it lost about 1 million global subscribers in the quarter, marking the second consecutive quarter it has hemorrhaged customers. And it lost 1.3 million subscribers in the U.S. and Canada, marking the third time in the last five quarters it has lost paid users in its most lucrative region based on average revenue per user. For the third quarter, Netflix forecast it will add just 1 million new subscribers — below the 1.8 million average analyst estimate, according to StreetAccount. If Netflix follows through and adds 1 million customers next quarter, it will still have lost subscribers this year through nine months. Compare that to analyst estimates from earlier this year of nearly 20 million net adds. Still, Netflix shares soared more than 6% in after hours trading. The company had predicted it would lose 2 million subscribers in the quarter. A decline of 1 million is better than that.(L-R)...
    In this article MSFT NFLX The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022.Dado Ruvic | ReutersNetflix has named Microsoft as its partner for its ad-supported service, the companies announced Wednesday. "Microsoft has the proven ability to support all our needs as we together build a new ad supported offering. More importantly, Microsoft offered the flexibility to innovate over time on both the technology and sales side, as well as strong privacy protections for our members," Netflix COO Greg Peters said in a statement. The "Stranger Things" streamer, which has been struggling to retain and add subscribers, announced in April that it was planning on rolling out an ad-supported tier after years of resisting the move. Co-CEO Reed Hastings has long been opposed to adding commercials or other promotions to the platform but said during the company's prerecorded earnings conference call that it "makes a lot of sense" to offer customers a cheaper option. Read more: Netflix announces 'Stranger Things' spinoff The offering has a lot of profit potential for Netflix...
    Netflix's revelation that it lost 200,000 subscribers in the first quarter put further pressure on an already beleaguered tech sector, but top tech analyst Mark Mahaney believes the current weakness in the sector presents several opportunities for investors.Aaronp/bauer-griffin | Gc Images | Getty Images Netflix is laying off around 300 employees across the company, CNBC confirmed Thursday. The cuts come about a month after the streaming company eliminated about 150 positions in the wake of its first subscriber loss in a decade. "Today we sadly let go of around 300 employees," the company said in a statement Thursday. "While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition." This is a breaking new story. Please check back for updates.TVWATCH LIVEWATCH IN THE APPUP NEXT | ETListen
    In this article RBLX NFLX SFIX DOCU SAVE Netflix's revelation that it lost 200,000 subscribers in the first quarter put further pressure on an already beleaguered tech sector, but top tech analyst Mark Mahaney believes the current weakness in the sector presents several opportunities for investors.Aaronp/bauer-griffin | Gc Images | Getty ImagesHere are the stocks making headlines on Friday, June 10. Stitch Fix – The clothing retailer dropped 14% after Stitch Fix said it expected revenue to decline in the fiscal fourth quarter and announced layoffs. The company said it expected the layoffs to save it between $40 million and $60 million in the 2023 fiscal year. Stitch Fix's third-quarter revenue came in at $493 million, which matched expectations, according to Refinitiv. DocuSign – Shares of the electronic signature software vendor dropped a whopping 24% after the company reported weaker-than-expected earnings in its fiscal first quarter. Both earnings per share and revenue for the quarter missed analysts' expectations per Refinitiv. DocuSign delivered 25% revenue growth from a year earlier, but investors are increasingly concerned with profitability. The company also got...
    LOS GATOS — Netflix has chopped about 150 jobs to cope with a drastic slowdown in the growth of the streaming pioneer’s revenue amid increasingly fierce competition in its primary markets. The job cuts represent about 2% of the tech titan’s worldwide workforce. Netflix didn’t disclose the location of the jobs it was eliminating. “Our revenue growth has slowed considerably,” Netflix stated in comments that discussed the company’s financial results for the January-through-March first quarter of 2022, according to a filing with the Securities and Exchange Commission. Los Gatos-based Netflix also reported a slump in subscribers and forecast that even more subscribers would exit the streaming service. At the end of December, Netflix served 221.84 million subscribers. But at the end of March, the company served 221.64 million subscribers, a decline of 200,000 customers. Netflix predicted that its subscriber base would be 219.64 million by the end of June 2022, which would be a decrease of 2 million subscribers. The company said that it’s facing revenue headwinds on multiple fronts as well as fast-expanding competition. “Competition for viewing with linear...
    Netflix says it's cutting about 150 jobs after announcing that it's lost 200,000 subscribers since the end of last year. Most of the employees being laid off are based in the US and work in creative positions across film and TV. The California-based streaming service is even eliminating some executive positions in its original content departments, sources told Deadline. A few director-level executives may also be on their way out. The news comes a month after the company reported that its global subscriber base declined in the first quarter of 2022. It expects to lose another two million subscribers by next quarter. On top of that, the streamer failed to meet revenue expectations by $62 million. Share prices are down 43.6 percent from last month. Last month, the company identified four key issues that were costing it subscribers: increasing competition, slowing smart TV adoption, password sharing, and 'macroeconomic developments,' such as the ongoing COVID-19 pandemic, inflation and Russia's invasion of Ukraine.  Netflix is cutting 150 of its 11,000 jobs on Tuesday. Above, the company's headquarters on Sunset Boulevard in Hollywood Share...
    Shares of the Walt Disney Company are rising even after the company missed quarterly revenue estimates, as the company reported strong growth for its streaming service Disney+. Disney stock jumped more than 5 percent in extended trading on Wednesday, after the company said that it added 7.9 million new Disney+ subscribers bringing the total to 137.7 million.  Though its streaming and theme park businesses posted strong growth, Disney missed estimates for quarterly revenue on an accounting technicality, as it had to pay $1 billion for early termination of rights for films and TV shows. The company's revenue rose 23 percent to $19.25 billion in the quarter ended April 2, below analysts' expectations of $20.03 billion, according to data from Refinitiv.  Disney stock jumped in extended trading on Wednesday, after the company said that it added 7.9 million new Disney+ subscribers CEO Bob Chapek said in a statement that the latest financial results 'once again proved that we are in a league of our own'.  'As we look ahead to Disney's second century, I am confident we will continue to transform entertainment by...
    NETFLIX has caught up with what many subscribers are doing when it comes to password-sharing to pay less for the streaming service. The streaming giant revealed a fall of 200,000 subscribers and it surely raised eyebrows across the board for those concerned with the financial aspect. 1Netflix might add ads to their streaming serviceCredit: AFP Is Netflix adding ads? People are sharing their passwords with other households and help make the plan cost less for everyone. This means that Netflix has less subscribers and so they make less money. Netflix were aware of this situation and boss Reed Hastings admitted that it was "something you have to learn to live with." But now that it is hugely affecting the company's accounts, they cannot turn a blind eye to it anymore. Read More on NetflixNETFLIX AND BILL Netflix is ALREADY charging some viewers to share their accounts Netflix announced: "Our revenue growth has slowed considerably. "Our relatively high household penetration - when including the large number of household sharing accounts - combined with compeition, is creating revenue growth headwinds." s...
    The fallout from Netflix’s first-quarter losses continued on Wednesday when the streaming giant’s shares closed down more than 35 percent. According to CNBC, the sharp drop “led to a wave of downgrades from Wall Street on fears over the company’s long-term growth potential,” resulting in a lose of more than $50 billion of its market cap. “It is now the worst-performing stock of 2022 in the S&P 500, down 62.5 percent year-to-date,” CNBC flatly stated. Analysts with Bank of America, one of the nine Wall Street companies to downgrade the streaming platform, said the company’s current plans “reaccelerate growth” show a share of promise, they will likely have no “noticeable impact until ’24, a long time to wait on what is now a ‘show me story.'” Analyst Jeffrey Wlodarczak with Pivotal also wrote on Tuesday that Netflix’s poor performance meant a reduction in “subscriber forecasts” and a substantial pushback in “profitability forecasts.” With the closing of the second quarter, Netflix is projected to lose 2 million global subscribers. In a letter to shareholders on Tuesday, the company said the company’s content...
    NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Netflix Inc., down $122.42 to $226.19. The streaming video giant lost subscribers for the first time in more than a decade and it expects those losses to accelerate this quarter. International Business Machines Corp., up $9.17 to $138.32. The technology and consulting company’s latest quarterly profit and revenue beat Wall Street forecasts. Procter & Gamble Co., up $4.24 to $163.65. The maker of Charmin, Dawn and other household goods reported quarterly earnings that beat analysts’ forecasts. ASML Holding NV, up $16.76 to $633.91. The equipment supplier to semiconductor makers reported solid first-quarter revenue and said demand remains strong. Stride Inc., up $5.19 to $40.60. The online education company’s fiscal third-quarter financial results beat Wall Street forecasts. Avient Corp., up $5.88 to $53.76. The maker of resins used in plastic pipe and other products beat analysts’ first-quarter profit and revenue forecasts. Baker Hughes Co., down $1.41 to $35.33. The oilfield services company’s first-quarter earnings and revenue fell short of Wall Street forecasts. Omnicom Group Inc., up...
    In this article ROKU IBM NFLX IBM's logo seen displayed on a smartphone.Rafael Henrique | SOPA Images | LightRocket | Getty ImagesCheck out the companies making headlines in midday trading Wednesday/ Netflix — Shares of the streaming giant sank 35% after Netflix reported a loss of 200,000 subscribers in the most recent quarter. Netflix cited increasing competition, password sharing and the situation in Ukraine among the reasons for the dip. The news led to a wave of downgrades from major Wall Street firms. Disney, Paramount — Shares of streaming video companies fell after Netflix reported a loss in subscribers for the first time in more than a decade. Disney dropped 4.3%, Roku fell 3.7%, and HBO Max owner Warner Bros. Discovery was off about 6.1%.Paramount (formerly ViacomCBS) declined 7%. M&T Bank — Shares for the regional bank surged 9.4% after M&T Bank exceeded earnings expectations. M&T Bank reported earnings of $2.73 per share, which was above $2.19 per share expected by analysts surveyed by Refinitiv. Procter & Gamble — Shares of the Procter & Gamble rose more than...
    PHILADELPHIA (CNN) — Netflix’s bad 2022 just got much worse. After shares tanked earlier this year because of concerns over its subscriber growth, the streaming leader said that it lost subscribers when it reported first quarter earnings on Tuesday. Netflix now has 221.6 million subscribers globally. It shed 200,000 subscribers in the first quarter of 2022, the company reported on Tuesday, adding that it expects to lose another two million in the second quarter. The service was expected to add 2.5 million subscribers in the first three months of the year. READ MORE: Earth Day Events: Where To Celebrate Earth Day In Philadelphia AreaThe report sent the stock down as much as 25% in after-hours trading. Netflix’s first quarter profit was $1.6 billion, down from $1.7 billion in the year-earlier quarter. Revenue jumped nearly 10%, to $7.9 billion. It cannot be overstated just how bad of a report this is for the king of streaming. The company’s stock has fallen more than 40% year to date, and coming into the earnings there was a lot of concern from investors regarding its growth. The company hasn’t lost...
    In this article BKR PG WBD ROKU DIS NFLX VIDEO1:2601:26News Update – Pre-MarketsNews BriefingCheck out the companies making headlines before the bell: Netflix (NFLX) – Netflix plummeted 26.8% in the premarket after reporting it lost 200,000 subscribers during the first quarter. The streaming service had projected subscriber additions of 2.5 million. Netflix also said it was exploring an ad-supported version. Walt Disney (DIS), Roku (ROKU), Warner Brothers Discovery (WBD) – Other streaming-related companies saw their stocks fall in sympathy with Netflix. Disney slid 5% in the premarket, Roku tumbled 6.7% and Warner Brothers Discovery lost 4.3%. Procter & Gamble (PG) – The consumer products giant's stock gained 1.1% in premarket trading after a top and bottom-line beat. Procter exceeded estimates by 4 cents with adjusted quarterly earnings of $1.33 per share and saw its biggest year-over-year sales gain in two decades as demand remained high for household products, even in the face of higher prices. Procter also raised its organic sales guidance. Baker Hughes (BKR) – The oilfield services company fell 5 cents short of estimates with adjusted quarterly...
    Netflix saw its stock tank 25 percent after it reported losing 200,000 subscribers in the company’s first quarter – the sharpest decline in a decade. “The company’s shares cratered more than 25% in extended hours after the report on more than a full day’s worth of trading volume,” reported CNBC. “Fellow streaming stocks Roku, Spotify and Disney also tumbled in the after-hours market after Netflix’s brutal update.” $NFLX -25% pic.twitter.com/ChqjpC0Qxr — Joe Weisenthal (@TheStalwart) April 19, 2022 With the closing of the second quarter, Netflix is projected to lose 2 million global subscribers. In a letter to shareholders on Tuesday, the company said the company’s content still remains popular but faces stiff competition. It also cited the company cutting off its paid 700,000 membership in Russia for a sharp drop in global subscribers. Netflix Co-CEO Reed Hastings said the platform may shift to offering “lower-priced, ad-supported tiers as a means to bring in new subscribers after years of resisting advertisements on the platform.” “Our revenue growth has slowed considerably,” the company wrote. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular...
    A look at some of the key business events and economic indicators upcoming this week: BINGE THIS Netflix serves up its latest quarterly snapshot Tuesday. The video streaming service giant is expected to report that its first-quarter earnings fell and revenue increased from a year earlier. While Netflix delivered overall earnings and revenue growth in 2021, the company picked up just 18.2 million worldwide subscribers last year, its slowest annual growth in five years. The slowdown in 2021 followed a blockbuster 2020, when Netflix gained more than 36 million subscribers. HOUSING MARKET BAROMETER The National Association of Realtors issues its latest monthly snapshot of U.S. home sales Wednesday. Economists predict sales of previously occupied U.S. homes slowed to a seasonally adjusted annual rate of 5.73 million properties last month. That would follow an annual pace of 6.02 million homes in February, when sales fell as competition for a near-record dearth of properties on the market and rising mortgage rates stymied would-be buyers. Existing home sales, in millions, seasonally adjusted annual rate: Oct. 6.19 Nov. 6.33 Dec. 6.09 Jan. 6.49 Feb....
    In this article NFLX TSLA TER INTC Reed Hastings, CEO of NetflixGetty ImagesHere are the stocks making notable moves on Thursday, Jan. 27. Tesla — Shares of the automaker fell more than 8% despite Tesla's beating estimates on the top and bottom lines for the fourth quarter. The company warned that supply chain issues might limit production in 2022 and announced that it would debut no new models this year, disappointing some Wall Street analysts. Netflix — The streaming giant's shares jumped more than 7% after Pershing Square's Bill Ackman revealed Wednesday evening that he purchased more than 3.1 million shares, which made him a top-20 shareholder. Ackman said he started buying the dip on Friday after Netflix suffered a steep sell-off on slowing subscriber growth. Intel — Shares of the chip stock fell 7% despite Intel's reporting better-than-expected fourth-quarter earnings and delivering upbeat guidance. Intel's largest business, its Client Computing Group, was down 7% year-over-year to $10.1 billion, though it still beat analysts' average estimate of $9.6 billion, according to FactSet. ServiceNow – ServiceNow shares jumped more than...
    In this article NFLX BX TSLA CMCSA MCD TSCO VIDEO1:2601:26News Update – Pre-MarketsNews BriefingCheck out the companies making headlines before the bell: Comcast (CMCSA) – The NBCUniversal and CNBC parent earned an adjusted 77 cents per share for the fourth quarter, 4 cents above estimates, with revenue also above analyst forecasts. Comcast also announced an 8% dividend hike and increased its share buyback program to $10 billion. Comcast rose 1.1% in premarket trading. McDonald's (MCD) – McDonald's fell 2% in the premarket after missing top and bottom-line estimates for the fourth quarter. The restaurant operator fell 11 cents shy of consensus with adjusted quarterly earnings of $2.23 per share, hurt by higher expenses. Blackstone (BX) – The private equity firm's stock jumped 4% in premarket trading after reporting a better-than-expected quarterly profit. Blackstone reported distributable earnings per share of $1.71, compared with a consensus estimate of $1.37, thanks to strong investment performance and record cash inflows. Netflix (NFLX) – Investor William Ackman's Pershing Square bought 3.1 million shares of the video streaming service, saying a recent sell-off in Netflix...
    The Tesla dealership in Eatonville, Florida is seen on March 1, 2019, the day after Tesla announced that it was closing its retail stores as a cost-cutting measure, in a shift to on-line only sales.Paul Hennessy | NurPhoto | Getty Images Check out the companies making headlines after the bell Wednesday: Netflix — Shares of Netflix jumped more than 5% after hours after Pershing Square's Bill Ackman said his firm "recently" purchased more than 3.1 million Netflix shares, making it a top-20 holder of the stock. LendingClub — Shares of LendingClub slid 14.7% despite reporting strong earnings and revenue for the most recent quarter. The fintech company's first-quarter income and revenue guidance were both lower than analysts had expected, according to Refinitiv. Intel — The tech company saw its shares fall 2% after hours despite reporting better-than-expected results and delivering upbeat guidance. The company's gross margin forecast or 52% in the first quarter missed estimates of almost 53%. Tesla — Shares of the electric vehicle maker fell 2.6% after the company said its supply chain issues could persist throughout 2022,...
    In this article CSX NFLX ISRG PPG In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen.Rafael Henrique | SOPA Images | LightRocket | Getty ImagesCheck out the companies making headlines in after-hours trading: Netflix — Netflix shares dropped 19% in extended trading after the company's quarterly report showed slowing subscriber growth. The streaming giant added 8.28 million global paid net subscribers during the fourth quarter, which was ahead of Wall Street's expectations for 8.19 million, according to estimates from StreetAccount. But the number declined year over year. Netflix beat EPS estimates for the period, earning $1.33 per share compared with the 82 cents analysts surveyed by Refinitiv were expecting. Revenue came in at $7.71 billion, in line with expectations. CSX — Shares of the rail company declined 2% despite top- and bottom-line beats for the fourth quarter. CSX earned 42 cents per share on $3.43 billion in revenue, ahead of the 41 cents and $3.32 billion in revenue analysts surveyed by Refinitiv were expecting. Intuitive Surgical — Intuitive Surgical shares dipped...
    Navarro College, the setting for the popular Netflix docuseries Cheer, which just dropped season two, reportedly earned just $30K a year from the streaming giant, Sportico reported on Wednesday - despite the company boasting a $25million profit in 2020.  Along with Navarro, nearby Texas rival school, Trinity Valley Community College, was also paid just the relatively small location fee in order to serve as the other backdrop for the show.  Additionally, the meteoric popularity of the show hasn't translated to on-campus interest with Navarro's director of marketing and public information, Stacie Sipes, telling the outlet that enrollment has actually declined since season one. Bad deal: Navarro College, the setting for Netflix's Cheer, reportedly earned just $30K a year from the streaming giant, Sportico reported on Wednesday When Netflix first tapped Navarro to be the subject of their then-untitled cheerleading reality series in 2018, the school agreed to be paid $30K from the production company to film, it has been reported.  The deal, signed between the school and Boardwalk Pictures also 'provided Cheer's producers with an exclusive option to renew for five additional academic...
    In this article WDFC NFLX VZ WGO BIIB A customer enters a Verizon store in San Francisco, California, U.S., on Tuesday, July 20, 2021.Bloomberg | Getty ImagesCheck out the companies making headlines before the bell: Anthem (ANTM) — The health insurer reported adjusted quarterly profit of $6.79 per share, beating the $6.37 per share consensus estimate from Refinitiv, with revenue also topping forecasts. Anthem also raised its full-year outlook amid higher premiums for its Medicare and Medicaid businesses.  Biogen (BIIB) — The drug maker's stock rose 2.2% in the premarket after the company beat estimates on the top and bottom lines and raised its full year forecast. Biogen earned an adjusted $4.77 per share for the quarter, compared with a consensus estimate of $4.11 per share. The company is still optimistic about prospects for its Alzheimer's drug Aduhelm, despite slower than expected adoption. Novavax (NVAX) — The drug maker's shares tumbled 26.1% in the premarket following a Politico report saying it was having trouble meeting Food and Drug Administration quality standards for its Covid-19 vaccine. Winnebago (WGO) — The recreational vehicle...
    In this article SWX NKE NFLX Seen through a store window, a Nike employee stands in the entryway of the Nike SoHo store in New York City.Drew Angerer | Getty ImagesCheck out the companies making headlines in midday trading. Facebook, Amazon, Apple - Shares of major technology companies led Tuesday's market rebound. Facebook shares rose 2.5% following a 5% slide on Monday due to a whistleblower's claims and a site outage. Amazon rose 2%, while Apple advanced more than 1%. Alphabet added over 2%. Southwest Gas Holdings — The energy company jumped nearly 6% after activist investor Carl Icahn, who has a significant stake in it, wrote a letter to the company pushing it to drop a potential acquisition of Dominion Energy's Questar Pipeline and focus on improving its stock's performance, The Wall Street Journal reported. Marathon Oil — Shares of the exploration and production company advanced more than 2% on the heels of climbing oil and natural gas prices. Occidental also gained 1.8%, while EOG Resources, Devon Energy, Halliburton and Hess all rose. West Texas Intermediate crude futures, the U.S. oil benchmark, broke above $79 per...
    VIDEO1:2201:22News Update – Pre-MarketsNews Briefing Check out the companies making headlines before the bell: Didi Global (DIDI) – Didi rallied 4.3% in the premarket following a Bloomberg report that Beijing was considering taking a stake in the ride-hailing company and possibly bringing it under state control. It is unclear what size stake Beijing would consider taking in the company. Netflix (NFLX) – The video streaming service's stock remains on watch today after rising in 14 of the past 15 sessions and hitting an all-time high in Thursday's session. MongoDB (MDB) – MongoDB lost 24 cents per share for its latest quarter, narrower than the 39 cent loss that analysts anticipated. The database platform company also reported better-than-expected revenue and gave upbeat current-quarter revenue guidance. Shares soared 13.5% in premarket action. PagerDuty (PD) – PagerDuty shares surged 14.5% in the premarket, after reporting a loss and revenue that beat consensus. The provider of digital operations management solutions reported an adjusted loss of 13 cents per share for its latest quarter, 2 cents narrower than expected, while issuing a strong current-quarter revenue...
    Susan Wojcicki, chief executive officer of YouTube Inc., introduces the company's new television subscription service.Patrick T. Fallon | Bloomberg | Getty Images Google's parent company Alphabet delivered another monster earnings report Tuesday. One of the brightest bits came from YouTube, which booked a whopping $7 billion in advertising revenue last quarter. When we talk about the winners and losers in the streaming wars, the focus is primarily on the subscription services like Disney+, Netflix and HBO Max. But ever since Alphabet started breaking out YouTube's performance early last year, it's become clear it should be right there in the mix with the rest. YouTube is not only a streaming video juggernaut that continues to report mind-bending growth, it is also turning into a key rival to the paid services that dominate the conversation around the future of television. And it has plenty of room to grow. Take a look at some of the key points we've learned about YouTube's growth recently: Quarterly revenue is on a par with Netflix, and it's growing at a faster rate. Alphabet said YouTube booked...
    Stocks that traded heavily or had substantial price changes Wednesday: Netflix Inc., down $17.42 to $513.63. The video streaming pioneer reported its worst slowdown in subscriber growth in eight years. Chipotle Mexican Grill Inc., up $181.64 to $1.755.99. The casual restaurant chain reported earnings that far surpassed analysts’ estimates and a 31% increase in comparable restaurant sales. Coca-Cola Co., up 72 cents to $56.55. The soft drink maker said its revenue jumped 42% in the April-June period, well ahead of what analysts were expecting United Airlines Holdings Inc., up $1.78 to $48.10. The airline posted surprisingly strong revenue as vacation travel picked up and said it expects to earn a pretax profit in the remaining two quarters of the year. Interpublic Group of Companies Inc., up $3.54 to $34.81. The giant advertising and marketing conglomerate reported earnings and revenue that easily beat analysts’ forecasts. Harley-Davidson Inc., down $3.15 to $40.65. The Milwaukee-based motorcycle maker reported revenue that fell short of what analysts were looking for. Sleep Number Corp., down $14.46...
    In this article HAL RUN NOVA VZ NFLX CMG Customers wait outside of a Chipotle restaurant as they wait to enter in order to place an order as Florida continues with its Phase 1 of reopening the state during the Coronavirus (COVID-19) pandemic on May 19, 2020, in Aventura, FL.Icon Sportswire | Getty ImagesCheck out the companies making headlines in midday trading. Chipotle Mexican Grill — Shares of the fast-food chain surged 11% after beating on the top and bottom lines of its quarterly results. Chipotle reported earnings of $7.46 on revenue of $1.89 billion. Analysts expected earnings of $6.52 on revenue of $1.88 billion, according to Refinitiv. Revenue surpassed pre-pandemic levels as dine-in customers returned to its restaurants. Netflix — The streaming platform's share price slipped more than 3% after Netflix reported disappointing earnings and third-quarter subscriber guidance. Netflix earned $2.97 per share, below estimates of $3.16 per share, according to Refinitiv. The company said it expects 3.5 million net subscribers in the third quarter, nearly 2 million below analysts' estimates. Verizon Communications — Shares of Verizon gained 1.3% after the...
    VIDEO1:2601:26News Update – Pre-MarketsNews Briefing Check out the companies making headlines before the bell: Johnson & Johnson – J&J shares rose roughly 1% in the premarket after the company beat quarterly forecasts and raised its earnings outlook amid strong sales of drugs and medical devices. J&J reported adjusted quarterly earnings of $2.48 per share, beating the $2.27 consensus estimate, with revenue also topping Street forecasts. Verizon – Verizon added 1.3% in premarket trading, after beating estimates by 7 cents with adjusted quarterly profit of $1.37 per share. The company also reported better-than-expected revenue and subscriber growth, and raised its full-year outlook. Coca-Cola – The beverage giant's shares rallied almost 2% in premarket action following an upbeat quarter. Coca-Cola came in 12 cents above estimates with adjusted quarterly earnings of 68 cents per share, with revenue beating forecasts as venues like stadiums and movie theaters reopened. Coca-Cola also raised its full-year forecast. Harley-Davidson – The motorcycle maker reported quarterly earnings of $1.33 per share, 16 cents above estimates, although revenue was short of analyst projections. Its bottom line benefited from sales of more high-margin products like...
    More On: netflix Behind Naomi Osaka’s battle to ‘chill out’ amid mental health struggle on Netflix 3 Netflix execs axed for griping about management in private messages ‘Never Have I Ever’ star on Season 2 of the Netflix teen hit Netflix pushes into gaming with new executive hire Streaming giant Netflix blamed the pandemic for “lumpiness” as it predicted a slowdown in new subscriber growth on Tuesday. Shares of the Los Gatos, California-based firm, known for hits like “Stranger Things,” “Bridgerton” and “The Crown,” sank nearly 2 percent in after-market trading. Netflix said it brought in 1.5 million new subscribers in the second quarter, besting estimates of 1 million, but cautioned of slowing growth ahead. “Covid has created some lumpiness in our membership growth, higher growth in 2020, slower growth this year, which is working its way through,” the company said in a letter to investors. “We continue to focus on improving our service for our members and bringing them the best stories from around the world.” Netflix co-CEO Reed Hastings cited the company’s push into...
    A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019.Jaap Arriens | NurPhoto | Getty Images Check out the companies making headlines after the bell: Netflix — Shares of the streaming platform slid 2% in after hours trading after reporting disappointing earnings and third quarter subscriber guidance. Netflix earned $2.97 per share, below estimates of $3.16 per share, according to Refinitiv. Revenue beat expectations. The company said it expects 3.5 million net subscribers in the third quarter, nearly 2 million below analysts' estimates. Chipotle — Shares of the Mexican fast-food chain rose 4.5% in extended trading after beating on the top and bottom lines of its quarterly results. Chipotle reported earnings of $7.46 on revenue of $1.89 billion. Analysts expected earnings of $6.52 on revenue of $1.88 billion, according to Refinitiv. United Airlines — Shares of the airline dipped just 0.5% after the bell after reporting a loss of $3.91 per share, in line with analysts estimates, according to Refinitiv. United Airlines made $5.47 billion...
    Susan Wojcicki, CEO, YouTube speaking at #VidCon, July 23, 2015.Harriet Taylor | CNBC Google's YouTube is already the world's largest online video platform. If continues growing the way it has the last several quarters, it could also match Netflix in revenues by year's end. In its first-quarter earnings report Tuesday, Google parent company Alphabet said YouTube brought in revenue of $6.01 billion in advertising revenue during the quarter — up from $4 billion from a year ago, for a growth rate of 49%. That's an acceleration over its 46% growth in Q4. It's also nearly twice the growth rate of Netflix, which reported 24% revenue growth in Q1, and expects growth to slow to 19% next quarter. If its current growth trajectory continues, YouTube will book between $29 billion and $30 billion in revenue this year. Netflix is expected to report $29.7 billion in revenue for 2021, according to an average of estimates from analysts polled by Refinitiv. Alphabet first broke out YouTube's advertising revenue in Feb. 2020. Since then, investors have gotten a clear look at its growth streak, which...
    Stocks that traded heavily or had substantial price changes Wednesday: Netflix Inc., down $40.67 to $508.90. The streaming video service reported weak subscriber growth during its first quarter. Intuitive Surgical Inc., up $80.27 to $891.38. The surgical instruments maker handily beat Wall Street’s first-quarter profit forecasts. ASML Holding NV, up $38.55 to $655.49. The chipmaking equipment supplier reported strong first-quarter profit and revenue. Edwards Lifesciences Corp., up $5.61 to $95.24. The medical device maker gave investors an encouraging profit forecast after reporting solid first-quarter results. Tenet Healthcare Corp., up $2.51 to $54.53. The hospital operator’s first-quarter profit and revenue beat Wall Street forecasts. NextEra Energy Inc., down $2.56 to $77.97. The parent company of Florida Power & Light Co. reported disappointing first-quarter revenue. Welbilt Inc., up $6.95 to $22.58. The maker of ovens and freezers for restaurants is being bought by Elgin, Illinois-based Middleby in an all-stock deal worth $4.3 billion. Inter Parfums Inc., up $5.35 to $75.31. The perfume maker raised its profit forecast after reporting good first-quarter results. Copyright © 2021 The Associated Press. All rights reserved. This material...
    New York (CNN Business)Netflix is synonymous with streaming, but its competitors have a distinct advantage that threatens the streaming leader's position at the top.Disney has Disney+, but it also has theme parks, plush Baby Yoda dolls, blockbuster Marvel movies and ESPN. Comcast (CMCSA), Amazon (AMZN), ViacomCBS (VIACA), CNN's parent company WarnerMedia and Apple (AAPL) all have their own streaming services, too, but they also have other forms of revenue.As for Netflix (NFLX), its revenue driver is based entirely on building its subscriber base. It's worked out well for the company — so far. But it's starting to look like the king of streaming will soon need something other than new subscribers to keep growing.The streaming service reported Tuesday it now has 208 million subscribers globally, after adding 4 million subscribers in the first quarter of 2021. But that number missed expectations and the forecasts for its next quarter were also pretty weak. That was a big whiff for Netflix — a company coming off a massive year of growth thanks in large part to the pandemic driving people indoors —...
    A picture of a woman starting Netflix on a TV inside her apartment.Artur Widak | NurPhoto | Getty Images Check out the companies making headlines in midday trading. Netflix — The streaming giant's shares plunged more than 6% after the company reported a big subscriber miss as the demand surge from the pandemic started to fade. Netflix added 3.98 million paid net subscriber globally, versus 6.2 million expected, according to FactSet. The company also said it only expects to add about 1 million subscribers in the current quarter, well below estimates. Norwegian Cruise Line — The cruise line operator saw its stock pop about 7% after Goldman Sachs upgraded the stock to buy from neutral. The Wall Street firm said its business mix and balance sheet put the company in a strong position relative to other major cruise players. Intuitive Surgical — The medical device stock surged more than 8% after a stronger-than-expected first quarter report. Intuitive Surgical reported earnings of $3.52 per share on $1.29 billion in revenue. Analysts surveyed by Refinitiv had penciled in $2.63 per share and...
    VIDEO0:5300:53Wall Street set for a flat open after two days of lossesMorning Report Take a look at some of the biggest movers in the premarket: Verizon (VZ) – Verizon reported quarterly earnings of $1.31 per share, 2 cents a share above estimates. Revenue also beat analysts' forecasts. Verizon lost more wireless subscribers during the quarter than analysts had been anticipating. Welbilt (WBT) – Welbilt shares surged 14.8% in the premarket after the maker of professional foodservice equipment agreed to be bought by rival Middleby (MIDD) in an all-stock transaction with an implied value of $4.3 billion. Anthem (ANTM) – The health insurer earned $7.01 per share for its latest quarter, beating estimates by 50 cents a share. Revenue fell short of Wall Street projections. Anthem also raised its full-year outlook, amid growth in its various medical plans and higher pharmacy benefit management revenue. The stock rose 1.6% in premarket trading. Halliburton (HAL) – Halliburton shares climbed 2.4% in premarket action after it beat estimates by 2 cents a share, with quarterly profit of 19 cents per share. Revenue was above...
    In this article ISRG THC IBKR CSX NFLX Signage outside the Netflix office building on Sunset Boulevard in Los Angeles, California, on Monday, April 19, 2021.Bing Guan | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell on Tuesday: Netflix — Shares of the streaming giant dipped 10.4% after the company reported a huge miss in subscriber-growth numbers. Netflix added 3.98 million paid net subscribers. Analysts polled by FactSet expected an increase of 6.2 million subscribers. The weaker-than-expected subscriber growth numbers overshadowed stronger-than-forecast earnings and revenue for the previous quarter. CSX — Shares of the railroad operator fell 1.8% after the company announced mixed first-quarter results. CSX logged earnings per share of 93 cents on revenue of $2.81 billion. Analysts surveyed by Refinitiv expected earnings per share of 95 cents on revenue of $2.78 billion. Interactive Brokers — The brokerage firm's stock ticked up 2.1% after the company posted better-than-expected first-quarter results. The firm posted earnings per share of 98 cents on revenue of $893 million. Analysts polled by Refinitiv predicted earnings per share of...
    The signage is seen at Alibaba Group headquarters during the company's 11.11 Singles' Day global shopping festival in Hangzhou, Zhejiang province, China, November 11, 2020.Aly Song | Reuters Here are the stocks making headlines in midday trading. Ulta Beauty — Shares of the cosmetics company fell more than 6% after reporting full-year same-store sales and revenue guidance below Wall Street estimates. The company said it sees same-store sales between 15% and 17% for the year, while analysts expected 20.3%, according to Refinitiv. Vail Resorts — The ski resort stock rose nearly 3.8% after Vail's earnings for its fiscal second quarter beat expectations. The company earned $3.62 per share versus the $2.31 expected by analysts, according to FactSet. The company also said that it saw results continue to improve in February, which will be included in the next quarterly report. Aegion Corp. — Oil and gas pipeline company Aegion saw its shares rise more than 12%. It is the subject of a bidding contest between New Mountain Capital and Apollo Global, two private equity companies. Apollo has made a bid for Aegion between...
    The Netflix logo is shown in this illustration photograph in Encinitas, California.Mike Blake | Reuters Check out the companies making headlines in midday trading.  Netflix — Shares of the streaming giant popped 14% after the company's fourth quarter report beat Wall Street expectations for revenue and subscribers, which topped 200 million. Netflix also said it would consider stock buybacks and it expects to break even on a cash flow basis this year. Netflix earned upgrades from Wells Fargo and UBS, boosting sentiment further. Penn National Gaming — Credit Suisse initiated coverage on the sports-betting company with an outperforming rating, sending shares up 5%. The Wall Street firm said the company has the potential to claim leadership in online betting, and that it sees upside to targeted cost savings and better-than-expected margins. Ford Motor — Shares of the automaker jumped 4.6% after Deutsche Bank added a catalyst call or a short-term buy idea on the stock. The bank said it's bullish on the company's upcoming earnings report in early February among other things. The firm kept its long-term hold rating on...
    Netflix has the modest triumph. The giant and world leader in video streaming has completed 2020 by passing a new milestone: that of 200 million subscribers worldwide. According to its financial results, published Tuesday evening, January 19, the group led by Reed Hastings and Ted Sarandos, Netflix claims at the end of December nearly 204 million subscribers (203.7), or 37 million more than it a year ago (+ 22%, including 8.5 million in the fourth quarter alone. The performance is uppercase: in three years, the SVoD champion has almost doubled its number of subscribers, which rose from 111 million at the start 2018 to $ 203.7 million at the end of 2020, while average subscription revenue increased from $ 9.88 to $ 11.02, the company said. Logically, Netflix is ​​still beating sales records. In the fourth quarter of 2020, the platform garnered $ 6.64 billion in revenue, up 21.5% year-on-year. Its net profit is the only small downside: it stands at $ 542 million, down $ 40 million from a year ago. But the financial situation of the group...
    Amid a pandemic that's left many confined to their living quarters, 200 million streamers signed up for Netflix subscriptions, the company announced Tuesday. Netflix acquired its 200 millionth subscriber, with 37 million of those subscribers joining in 2020, according to the California-based streaming service's earnings report. "We’re enormously grateful that in these uniquely challenging times we’ve been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business," said an internal shareholder letter shared with the Washington Examiner. "With 8.5m paid net additions in Q4, we crossed the 200m paid memberships mark. For the full year, we added a record 37m paid memberships, achieved $25 billion in annual revenue (+24% year over year) and grew operating profit 76% to $4.6 billion." Netflix “achieved $25 billion in annual revenue” during its fourth quarter to be followed by anticipated paid net adds of 6 million in the first quarter of 2021, which factored in "the impact from the initial COVID-19 lockdowns," according to the letter. “Our strategy is simple: if we...
    Netflix is raising the price of its HD standard subscription by $1 to $13.99 per month, marking the first time the streaming giant has raised prices since January 2019. The 4K premium subscription will jump from $15.99 to $17.99, according to an announcement on Thursday. The streaming service’s basic $8.99 plan, which does not include HD streaming, is unaffected by the changes. “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said in a statement. “We’re updating our prices so that we can continue to offer more variety of TV shows and films – in addition to our great fall lineup. As always we offer a range of plans so that people can pick a price that works best for their budget.” The increase comes after Netflix narrowly missed its projection for new subscribers in its Q3 earnings report. The company still enjoyed a revenue increase of 25 percent amid the pandemic when compared to the same quarter in 2019, with revenue topping $6.15 billion...
    Roundup: Inch a Huge Difference for Penix; Mike Pences Inner Circle Tests Positive; Is The Vow Good? How much celebs gave to political causes and candidates Top Wall Street analysts say buy stocks like Netflix and Alphabet amid renewed market volatility Volatility has once again returned to Wall Street. Swinging between positive and negative territory in the previous five sessions, the market's movements have largely been tied to updates on the ongoing stimulus talks. © Provided by CNBC Working for months to pass additional stimulus measures, both sides of the aisle are making a last-ditch effort to come to an agreement before Election Day.    Load Error "People are digesting the potential for a stimulus bill, and markets are very cautious on the back of that," Ryan Felsman, senior economist at CommSec stated. Despite all of the uncertainty, there are still stocks poised to deliver even in tumultuous economic times. As for finding these names, one possible strategy is to follow the stock picks from analysts that get it right time and time again. TipRanks analyst forecasting service...
    VIDEO0:4500:45Markets point to a lower open as investors monitor stimulus talksMorning Report Take a look at some of the biggest movers in the premarket: Verizon (VZ) – Verizon beat estimates by 3 cents a share, with quarterly earnings of $1.25 per share. Revenue was essentially in line with forecasts. Verizon also increased the bottom end of its full-year earnings guidance, and added more phone subscribers than analysts had anticipated. Shares were slightly higher in premarket trading as of 7:45 a.m. ET. AutoNation (AN) – The auto retailer reported quarterly earnings of $2.38 per share, well above the $1.65 a share consensus estimate. Revenue was also above forecasts and AutoNation increased its share repurchase authorization to $500 million. Shares jumped 8% in premarket trading as of 7:45 a.m. ET. Thermo Fisher Scientific (TMO) – The life sciences and lab products company earned $5.63 per share for its latest quarter, beating the consensus estimate of $4.31 a share. Revenue also came in above forecasts, helped by strong growth in analytical instruments and specialty diagnostics. Shares added 1.7% in premarket trading as of...
    New York (CNN Business)Netflix stock fell around 5% in after-hours trading Tuesday after the company posted slowing growth in new subscriptions and lower-than-expected profits, a sign that the streaming giant's pandemic bump may be petering out. The company said it added 2.2 million net memberships in the three months ended September 30, down from 6.8 million new memberships during the same period in the prior year. The additions bring Netflix's total subscribers to nearly 195.2 million, lower than the 196.2 million Wall Street analysts had projected.Netflix (NFLX) posted earnings of $1.74 per diluted share on $6.4 billion in revenue. Analysts had projected earnings of $2.13 per share on revenue of $6.38 billion, according to Refinitiv.Netflix has thrived in 2020 as people were stuck at home during the global health crisis. The company posted colossal subscriber gains over the past two quarters, which helped drive its stock up nearly 70% this year.
    VIDEO1:1001:10News Update – Pre-MarketsNews Briefing Take a look at some of the biggest movers in the premarket: Netflix (NFLX) – The video streaming service saw its bottom line fall 22 cents a share below Wall Street forecasts with quarterly profit of $1.59 per share. Revenue and subscriber additions were above estimates. Projected subscriber additions for the current quarter of 2.5 million are well below the consensus estimate of 5.27 million. BlackRock (BLK) – The asset management firm reported quarterly profit of $7.85 per share, beating the consensus estimate of $6.99 a share. Revenue also topped forecasts. Profit was up 21% from a year ago, with the firm seeing a 7% increase in assets under management. Regions Financial (RF) – The bank reported a quarterly loss of 25 cents per share, compared to analysts' forecasts of a 5 cents per share profit. Revenue was above estimates. The loss was prompted by a larger-than-expected increase in the company's reserve for credit losses. Microsoft (MSFT) – The company said it had trimmed its workforce across multiple functions and locations, although it did not...
    JAKARTA, Jul 7 (.) – Indonesia on Tuesday approved a 10% value-added tax (VAT) on sales revenue from digital companies like Amazon, Netflix, Spotify and Google, as spending patterns change due to the increase in remote work derived from the coronavirus crisis, which has affected Indonesian finances. The Southeast Asian country’s tax agency reported in a statement that it had already assigned tax identification numbers to Amazon Web Services, Netflix, Spotify and for Google Asia Pacific, Google Ireland and Google LLC, all of which are divisions of Google. Indonesia, with a population of almost 270 million, is the fourth most populous country in the world, is experiencing a boom in its digital economy that is expected to reach 130,000 million dollars in 2025, according to a study by Google, Temasek Holdings and Bain & Company. A 13% drop in state revenue is expected for this year as the pandemic has hit hard with its business activity, in addition to expenses of almost 50,000 million dollars destined to the fight against the coronavirus. Taken together, these factors are expected to more...
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