First up is the same company we started with yesterday: Netflix (NFLX). Shares have been down as much as 6.4% since the company reported earnings after the closing bell. It's a bit surprising when you see how the company performed compared to estimates. It matched on revenue of $1.07 billion and reported earnings of 49-cents a share, more than 20% above expectations. The main problem: original programming like House of Cards and Arrested Development failed to lift subscriptions as much as predicted. Reality also seems to be setting in that Netflix has been losing content from partners like Viacom. Netflix shares are up 185% year-to-date, but one analyst with Wedbush Securities warns that without a pickup in subscriptions, shares could tumble in half.
Next up is Texas Instruments (TXN) which also reported earning after the closing bell. It's currently trading 3% higher. The company managed a slight beat on earnings. Excluding items it posted profits of 42-cents a share, a penny better than expected. It did however miss on revenue, which was down 9% from a year ago. Most important perhaps was that profit was up 48% from a year ago on both cost-cutting and rising demand for computer chips from automakers and industrial companies. Shares of Texas Instruments are up 40% over the past year.
Dow component AT&T (T) reports after today's closing bell. The company is expected to see small increases over a year ago with earnings of 68-cents a share on $31.81 billion in revenue. The company has been looking for ways to grow amid a maturing market. Last week it unveiled a pay-as-you-go plan that eliminates two-year contracts for smartphones. AT&T is up about 2% year-to-date, and under 1% over the past year.
By the way, also reporting after the closing bell: Apple, which we already mentioned, Discover Financial (DFS), game-maker Electronic Arts (EA), Juniper Networks (JNPR), Panera (PNRA), and Unisys (UIS).
Finally we look at drug maker Onyx (ONXX) which is was up more than 2% yesterday amid new rumblings of takeover attempts. That means shares have now climbed 58% over the past month, largely on a bid from Amgen. Bloomberg reports that now AstraZeneca (AZN) and Novartis (NVS) are preparing offers for Onyx. It says Pfizer (PFE) is also weighing an offer although Reuters says that's not going to happen. California-based Onyx specializes in cancer treatments.