Today's Research Reports on Trending Tickers: Netflix and Spectrum Brands
NEW YORK, NY / ACCESSWIRE / November 20, 2018 / Netflix and Spectrum Brands Holdings were two tech stocks seeing red on Monday. While Netflix didn’t have any immediate news, Spectrum saw its shares collapse on a disappointing quarterly report.
The Market Edge Initiates Coverage on:
Netflix, Inc.
https://marketedgereport.com/report/NFLX/
Spectrum Brands Holdings, Inc.
https://marketedgereport.com/report/SPB/
Netflix, Inc. shares were down 5.45% at the close yesterday on about 12.4 million shares traded. The streaming giant didn't have any particular news yesterday to explain the fall. The company may have been just sliding down along with many other tech stocks in Monday's session. Recently Netflix CEO Reed Hastings has confirmed that there are no plans to offer a lower-priced tier in some markets to boost its subscriber base. "Now it is true that YouTube is free, and Amazon is basically free, and cable is extremely inexpensive because it's ad-supported. To some degree that creates a consumer expectation," Hastings explained in an interview with Reuters. According to the CEO however, there is no plan for a lower price in India. He expects that India could deliver the company its next 100 million subscribers. A Netflix spokesperson said to TheStreet, "We are always looking for ways to make Netflix more enjoyable and more accessible to people all over the world. In this case, we are testing to understand consumer interest in a mobile-only plan in some countries. Generally, we try out lots of new ideas at any given time, and they can vary in how long they last and who sees them. We may not ever roll out the features or elements included in a test."
Access The Market Edge’s Netflix, Inc. Research Report at:
https://marketedgereport.com/report/NFLX/
Spectrum Brands Holdings, Inc. shares closed down around 19% yesterday on colossal trading volume compared to usual. The stock traded nearly 5.9 million shares compared to an average trading volume of just under 460,000 shares. The stock sank to a new low of $45.88 after reporting fourth quarter financial results. The company reported earnings per share of 79 cents, significantly lower than the $1.08 that analysts had been expecting. Net loss was $116.20 million, coming in lower than the net income of $24 million from the year ago quarter. Revenue of $787.80 million was also below the $803.67 million that analysts had anticipated. CEO David Maura said optimistically on the earnings call, "Over the past six months, my new team and I have worked tirelessly to evaluate each and every business unit and its long and short-term value prospects. We’ve also reviewed and assessed each unit’s senior management team, business strategy and the available opportunities and challenges. I believe that with the operational changes, the strategic transactions that we’re pursuing, we will be able to stabilize our operating results in fiscal '19 and prepare this company for sustainable growth in fiscal 2020."
Access The Market Edge’s Spectrum Brands Holdings, Inc. Research Report at:
https://marketedgereport.com/report/SPB/
Our Actionable Research on Netflix, Inc. (NASDAQ: NFLX) and Spectrum Brands Holdings, Inc. (NYSE: SPB) can be downloaded free of charge at The Market Edge.
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Disclaimer: This article is written by an independent contributor of MarketEdgeReport.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. MarketEdgeReport.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.marketedgereport.com/disclaimer.
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SOURCE: MarketEdgeReport
