|Bid||314.08 x 800|
|Ask||314.70 x 800|
|Day's Range||314.23 - 325.85|
|52 Week Range||231.23 - 386.80|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||124.06|
|Earnings Date||Oct 14, 2019 - Oct 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||384.98|
Eddie Murphy might be better known these days for his work on the screen, butit was on the stage that he got his start
DEEP DIVE Here are must-read articles from MarketWatch from the past week that will make you smarter. 1. Netflix loses some of its flock Shares of Netflix (NFLX) sank 10% on Thursday on disappointing subscriber data.
Like many people her age, 28-year-old writer Kristine lives with her parents. “It’s both embarrassing and a necessity,” she told MarketWatch. “I am an only child, so it’s just my parents and me at home,” she said.
New research on how consumers react when they don’t know what to watch on their video-streaming service could help explain why Netflix is losing subscribers. Netflix’s (NFLX) second-quarter earnings report Wednesday revealed fewer new subscribers than expected. The company said it added 2.7 million subscribers across the globe in the second quarter.
(Bloomberg Opinion) -- In Europe, people are used to watching their TV for free. Or sort of. In much of the region – France, Germany, the U.K. – there’s a license fee: anyone with a TV set has to pay an annual fee of $100 to $200 for the privilege. The levies help to fund public-service broadcasters like the BBC and ARD.The problem is that broadcasters are hemorrhaging viewers to streaming platforms like Netflix Inc. or Amazon.com Inc.’s Prime video service. And for TV stations whose biggest revenue stream is advertising, fewer viewers mean fewer ad dollars, compounding the flight to digital ad platforms like Facebook Inc. and Google.In response, broadcasters want to create their own Netflix rivals to buttress themselves against the tech firms’ incursions. The streaming video giants’ advantage is their scale: They can justify the investment in major new productions because they can reach large global audiences. That, in theory, helps them charge higher prices, since they have better content and more of it.That’s harder when you’re a local European player, which is why commercial and public-funded broadcasters are trying to join forces. But they’re also butting up against regulators who are wary of giving too much power to one organization, or of consumers losing access to content for which they’ve theoretically already paid through a licence fee.On Friday, it was the U.K.’s turn. ITV Plc, the maker of the Golden Globe-nominated series Bodyguard, and the publicly owned British Broadcasting Corp. announced they were teaming up to offer Britbox in their home market. (A version of it already has 500,000 subscribers in the U.S.)It’s easy to find the problems with the service. For 5.99 pounds ($7.50) a month, customers will get a handful of new shows as well as access to both broadcasters’ back catalogs. For ITV, that means programs that have been on its existing video-on-demand platform for at least a month, and, for the BBC, a year. This could be a tough sell to domestic viewers who will have already had the chance to view them for free. That the regulator, Ofcom, was so quick to approve the arrangement suggests that the two have hardly created a new titan.In the circumstances, ITV Chief Executive Officer Carolyn McCall deserves some credit for getting the project across the line at all. It was an uphill struggle to get this far, with the BBC reportedly reluctant to share its treasure trove of content. It should now become easier to find further broadcast and distribution partners: Viacom Inc.’s Channel 5 or BT Group Plc are obvious potential candidates.French broadcasters are having similar issues. France Televisions, M6-Metropole Television SA and Television Francaise 1’s joint offering, Salto, has been struggling to secure regulatory clearance. It’s had to make 20 undertakings, including that it will get no more than 40% of content under exclusivity from its parent firms, according to a report this week in newspaper Les Echos.The European players may be following the lead of their American peers in steadily pulling more shows from Netflix in order to run them on their own rival platforms. But to reach the scale they need in order to compete, they are also encountering regulatory difficulties that the likes of Comcast Corp., AT&T Inc.’s WarnerMedia and Walt Disney Co. don’t face.Life is going to get tougher for Netflix and Amazon in Europe, for sure. But as long as the publicly-funded titans zealously guard their content and regulators remain reluctant to bless closer alliances, the region’s traditional commercial broadcasters are going to find it far harder to beef up and steal subscribers than their counterparts in the U.S.To contact the author of this story: Alex Webb at email@example.comTo contact the editor responsible for this story: Edward Evans at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Netflix, Inc. (“Netflix” or “the Company”) (NASDAQ: NFLX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Before Netflix’s earnings report this past Wednesday, the bull case for the stock was that the streaming giant’s world-wide subscriber base of 150 million was still a starting point. For its second quarter, Netflix added 2.8 million net new international subscribers and lost 126,000 U.S. users, versus Wall Street expectations for 352,000 domestic additions and 4.8 million international adds. Netflix had forecast a total of five million new subscribers.
Investors fled Netflix (NFLX) stock after the firm reported potentially worrisome Q2 subscriber figures on Wednesday. Now many on Wall Street are left to wonder if the major user miss is a hiccup for an impressive growth stock, or the start of much tougher times.
(Bloomberg) -- Netflix Inc.’s biggest earnings surprise in years sent the shares plummeting the day after results were released, leaving analysts and investors wondering why they were caught so off guard.When some companies know that their quarterly results are going to fall short of forecasts, they put out a pre-announcement or update their guidance. But not Netflix.Instead, the company dropped a bombshell with no warning: Its customer growth was roughly half what it projected, and Netflix actually lost U.S. subscribers during the period. That hasn’t happened since 2011, when the company made a disastrous attempt to split up its streaming and DVD-by-mail operations.The fallout on Thursday included the worst stock rout in three years, with the stock declining 10% to erase more than $16 billion in market value. Shares in Netflix extended those declines on Friday, falling 3.1% to $315.10 per share, their lowest since January. The stock has fallen for seven consecutive sessions, the longest losing streak in nearly four years.“You would think Netflix would want to update guidance or give a pre-annoucement, as I’m sure they definitely knew about this for a while,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “But they probably didn’t want to do it because they were going to take a hit at that time or during earnings -- especially since subscriber numbers are the No. 1 thing analysts look at -- and in earnings you can spin it better than a stand-alone announcement.”Not Necessary?Another reason not to issue a warning: The company met most of Wall Street’s financial estimates, such as sales and profit. It was only the subscriber numbers that really came up short.“Revenue was very close to guidance and profits were actually above, so I’d guess they didn’t think it was necessary to pre-announce a weak sub number when other financial metrics were fine,” said Andy Hargreaves, an analyst at KeyBanc Capital Markets Inc.There’s also been a broader shift away from giving earnings warnings, said Huber Research Partners founder Craig Huber.“I have noticed companies in media and internet that I follow do not seem to pre-announce pending negative results with the same regularity as years ago,” he said.Netflix, based in Los Gatos, California, didn’t have an immediate comment.The streaming giant’s tight-lipped culture extends beyond earnings. Unlike traditional media companies, it’s very selective about the viewer information it provides. Third parties try to fill the gaps by providing their own data on Netflix’s audience, but that can prove to be unreliable.Third-Party ServicesThose kinds of data services failed to predict the latest shortfall, Wolfe Research analyst Marci Ryvicker said in a note.“For several days,” she said, “investors told us ‘such-and-such data service suggests domestic adds will come in line; while international might be somewhat soft.’ Wrong. I mean -- right in the sense that international was soft but totally wrong on the domestic subs part.”Netflix remains the dominant paid video streaming service, with its sights set on international expansion to counter slowing growth at home. But rising competition abroad -- such as a U.K. streaming venture announced Friday between ITV Plc and the BBC -- could challenge that growth as well.Netflix also delivers its earnings in an idiosyncratic way. Instead of doing a traditional Q&A conference call, the company releases an “earnings interview” on YouTube with a single analyst. It also issues its reports on its website, not through the paid services that many companies use to disseminate information.Though this week’s stock rout was especially severe, it’s common for Netflix’s earnings to spark a huge share move. The average change on the day after quarterly reports is almost 13%, according to data compiled by Bloomberg. Compare that with Apple Inc., where it’s 4.4%. Or Microsoft Corp., where it’s 4.1%.There’s another explanation for the huge swings in Netflix’s stock: overreaction. That was the message from Chief Executive Officer Reed Hastings this week. It’s easy to “overinterpret” subscriber figures, he said.“Sometimes we are forecast high, sometimes we forecast low,” he said. “We’re just executing forward and trying to do the best forecast we can.”(Closes shares in fourth paragraph.)\--With assistance from Morwenna Coniam.To contact the reporters on this story: Kamaron Leach in New York at email@example.com;Lucas Shaw in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Netflix, Inc. resulting from allegations that Netflix may have issued materially misleading business information to the investing public.
After several straight sessions of declines, it looked like we would get a bounce in the Nasdaq today. However, late in the session stocks began to sink due to escalating tensions in the Persian Gulf. It's got investors selling into the weekend and putting their worries on hold.Source: Shutterstock Where does that leave the Nasdaq now? Trading the Nasdaq TodayThe Nasdaq looked like it was bouncing hard on a near-test of the 20-day moving average from Thursday. The morning price action in the PowerShares QQQ ETF (NASDAQ:QQQ) -- which closely follows the Nasdaq's action -- looked like it might run back up to new highs. After all, Friday's high of $193.83 wasn't all that far from its all-time high of $194.19.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Click to EnlargeWith Friday's reversal though, it leaves the QQQ with a possible break below channel support (blue line). However, it's still holding up over prior range resistance near $191. While the action is discouraging, investors don't have much to fret so long as the QQQ is north of $191 and the 20-day moving average. Below these levels opens up the door to further declines, and obviously earnings will play a large role. * 10 Tech Stocks That Are Still Worth Your Time (And Money) We heard from Netflix (NASDAQ:NFLX) on Wednesday and from Microsoft (NASDAQ:MSFT) on Thursday. But next week will be busy.Investors will hear from Facebook (NASDAQ:FB), Tesla (NASDAQ:TSLA), PayPal (NASDAQ:PYPL), Amazon (NASDAQ:AMZN) Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Comcast (NASDAQ:CMCSA), Starbucks (NASDAQ:SBUX) and Charter (NASDAQ:CHTR), among others next week. Microsoft Leads EarningsMicrosoft (NASDAQ:MSFT) reported a top- and bottom-line beat, but the stock couldn't muster much in the way of gains. The stock jumped over $4 per share and hit new 52-week highs, but it couldn't maintain the gains.Shares closed higher by just 0.18%, but investors have to be somewhat disappointed. Earnings blew past expectations and revenue of $33.7 billion came in more than $900 million ahead of consensus expectations. First-quarter guidance and management's full-year outlook both came in ahead of estimates too. It was a strong report, despite the tepid price action.Some investors are fretting over the slowing growth rate in Azure, but make no mistake, MSFT stock remains a powerful entity. The stock is still in an uptrend and commands the market's highest valuation, maintaining north of $1 trillion. Other Earnings From FridayChewy (NYSE:CHWY) doesn't trade on the Nasdaq, but many consider it a tech play because it's an e-commerce company. The stock looked like it was going to push higher and potentially breakout over downtrend resistance, but sellers knocked it back down. Now it's flirting with a potential breakdown below its post-IPO gains.Here's the how-to-trade setup of the chart, along with Crowdstrike (NASDAQ:CRWD).CRWD also reported earnings, but shares soared to new post-IPO highs on the move. The rally is quite attractive, given that it was putting together a beautiful wedge pattern. The company delivered a top- and bottom-line earnings beat and guided for better-than-expected earnings and revenue results next quarter. Around the Water CoolerMicron (NASDAQ:MU) always draws a lot of eyes, but it's drawing extra attention on Friday. Shares climbed 1.9% on the day and closed at $45.52. The stock is pushing through a significant level between $44 and $45, a level the Top Stock Trades column flagged earlier this week.After surging to new all-time highs earlier this week, Roku (NASDAQ:ROKU) stock was under selling pressure on Friday, falling 1.99% to $106.85. That's despite news of Roku's plans to expand first to Brazil and other global markets.The company has been putting up robust growth numbers all across the board. Whether that's streaming hours, revenue, platform growth, etc. It's helped fuel the stock's massive run from sub-$30 in late December to more than $100 currently. 90% of its revenue comes from the U.S. and unlike other streaming plays, Roku does not have to dump hundreds of millions or even billions of dollars into developing its own content. * 5 Top Stock Trades for Monday: BA, CHWY, SKX Instead it's viewed as the operating system for streaming entertainment, providing a low-cost solution for millions of customers to access dozens of streaming options. This could be a big opportunity for the company if Roku executes well.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AMZN, GOOGL, ROKU and SBUX.The post Nasdaq Today: Can Big Tech Earnings Lead to Record Gains?Â appeared first on InvestorPlace.
The stock market pulled back for the week amid heavy earnings. Netflix dived, Microsoft rose, Facebook Libra faced critics. Some top stocks broke out.
At some point the confident and positive game bulls have been playing will end. The good news is the party may just be beginning for well-positioned bears in large-cap stocks Netflix (NASDAQ:NFLX), Home Depot (NYSE:HD) and Delta Air Lines (NYSE:DAL) offering classic topping patterns that are ready for a more troubled and profitable tomorrow. Let me explain.After hitting record highs out-the-gate in Monday's session, it's been a tough week for the broader averages. And maybe rightfully so. The S&P 500, the market's broadest barometer for large-cap stocks is up roughly 20% in 2019 alone. That's nothing to sneeze at. And let's face it, optimism regarding earnings, an endgame to the trade war and future interest rate cuts can only go so far.The fact of the matter is large-cap stocks are facing historically stretched price multiples following a remarkable bull-run of more than 325% over the last decade. But just because the market's rally may be in its final innings doesn't mean wagering profitably in the stock market isn't possible.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Tech Stocks That Are Still Worth Your Time (And Money) Let's now take a look at the price charts of NFLX stock, HD stock and DAL stock and appreciate how a more bearish trend can be an equally friendly and profitable environment for investors taking advantage of today's topping patterns into tomorrow and beyond. Netflix (NFLX) Click to EnlargeNFLX is the first of our large-cap stocks for shorting. As any investor with even a passing interest in the market knows, Netflix's latest quarterly report which featured surprisingly weak subscription data, didn't sit too well with Wall Street. But the worst may be yet to come.While the S&P 500 has enjoyed its astonishing run, NFLX stock is up a staggering 6,300% since the financial crisis in 2009. But rather than just being dismissive of this amazing rally and betting blindly on the notion all trends do eventually end, this large-cap stock is giving bearish investors a technical-based heads up.Netflix's weekly chart shows shares have just confirmed a lower high after Thursday's post-earnings sell-off. The price action was severe enough to also break below key support put together during 2019. It's looking bad to say the least.With this large-cap stock's bearishly-positioned stochastics and Bollinger Bands just opening up from a pinched position, it's time to short NFLX stock. My recommendation is to place a 6% blended technical and dollar-based stop-loss and look to take initial profits around $250 as shares challenge the December lows. Home Depot (HD) Click to EnlargeHome Depot is the next of our large-cap stocks for bearish investors. Home Depot hasn't delivered returns like Netflix over the past decade, but gains of more than 1,330% aren't in need of fixing either.The money shot for bears looking to position HD stock is a widening or inverted triangle topping pattern. We're looking at the monthly price chart of Home Depot as our guide for shorting shares.Honestly, this formation isn't likely to result in a complete deconstruction of the prior trend. Still, with Home Depot shares facing angular resistance and a bearish stochastics setup warning of lower prices, a reversal towards $140 - $150 and test of pattern support and the 38% retracement level looks compelling. * 7 Stocks Top Investors Are Buying Now For this large-cap stock I'd suggest a bit of price confirmation and short HD shares below $208 with a stop-loss above the pattern. That works out to risk of less than 6% compared to profits of around 30% if our forecast proves accurate. Delta (DAL) Click to EnlargeShares of Delta are the last of our three large-cap stocks to short. DAL stock has also been flying high over the past ten years with returns reaching over 1,100%. Over the past couple years those gains have been the result of a bullish-looking channel. I've provided a weekly chart to target a proper short in DAL.With Delta stock in a testing position of pattern resistance and stochastics in overbought territory, the likelihood of a pullback is high. Admittedly, my technical forecast for the airline isn't nearly as gloomy as it is for NFLX or HD, and I suspect Delta's bullish trend will eventually continue. Right here, right now though, DAL stock is on the radar for shorting.My recommendation for shorting this large-cap stock is to wait for a candlestick topping candle to be confirmed. This could happen sometime in the next five days if shares of DAL pass through the low of the current shooting star doji pattern taking shape on the weekly chart.Once positioned I'd suggest a 4% stop-loss. This exits the short slightly above the high of the signal candle. If we're right though and DAL stock is grounded and shares move into the area from $48 - $53, I'd definitely take profits and possibly even consider going long this large-cap stock as a safe, but profitable landing looks likely.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions in securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post 3 Large-Cap Stocks to Short appeared first on InvestorPlace.
(Bloomberg) -- Tinder joined a growing backlash against app store taxes by bypassing Google Play in a move that could shake up the billion-dollar industry dominated by Google and Apple Inc.The online dating site launched a new default payment process that skips Google Play and forces users to enter their credit card details straight into Tinder’s app, according to new research by Macquarie analyst Ben Schachter. Once a user has entered their payment information, the app not only remembers it, but also removes the choice to swap back to Google Play for future purchases, he wrote.“This is a huge difference," Schachter said in an interview. “It’s an incredibly high-margin business for Google bringing in billions of dollars," he said.The shares of Tinder’s parent company, Match Group Inc., spiked 5% when Schachter’s note was published on Thursday. Shares of Google parent Alphabet Inc. were little changed.Apple and Google launched their app stores in 2008, and they soon grew into powerful marketplaces that matched the creations of millions of independent developers with billions of smartphone users. In exchange, the companies take as much as 30% of revenue. The app economy is expected to grow to $157 billion in 2022, according to App Annie projections.As the market expands, a growing revolt has been gaining steam over the past year. Spotify Technology SA filed an antitrust complaint with the European Commission earlier this year, claiming the cut Apple takes amounts to a tax on competitors. Netflix Inc. has recently stopped letting Apple users subscribe via the App Store and Epic Games Inc. said last year it wouldn’t distribute Fortnite, one of the world’s most popular video games, through Google Play.Match declined to answer questions about whether the company was also investigating bypassing Apple’s App Store. Match is expected to discuss the payment flow change with analysts and investors during its next earnings call on Aug. 6.“At Match Group, we constantly test new updates and features to offer convenience, control and choice to our users," Justine Sacco, a spokeswoman for Match, wrote in an email. “We will always try to provide options that benefit their experience and offering payment options is one example of this."Google didn’t immediately respond to requests for comment.Of the high-profile companies that have shunned the App store, Match is the only one that has changed the payment method in-app, Schachter noted. Others have instead forced subscribers back to their own websites to enter payment information.Tinder’s move could spark a domino effect.“Tinder is relatively small and it won’t have a massive impact, but the concern is if this grows and gets into gaming apps as it starts moving forward," Schachter said. “We’re going to see a lot of other companies potentially trying to experiment with this."\--With assistance from Mark Bergen.To contact the reporter on this story: Olivia Carville in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Michael Nathanson of MoffettNathanson offered an interesting view in a note on Netflix Inc.’s disappointing second-quarter earnings release.
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. Midatech Pharma PLC (NASDAQ: MTP ) shares ...
Netflix stock has slumped about 10% following a surprising drop in U.S. subscribers during the second quarter. No one is denying that there are many companies streaming content. On the demand side, consumers have limited disposable income and cannot afford to support all these streaming services.
ITV and the BBC have partnered to bring their streaming service, BritBox, to the UK. What does this mean for Netflix? Yahoo Finance's Oscar Williams-Grut talks with Julie Hyman.
The worst monsters are the ones we create. Watch the first official teaser for The Witcher, Season 1, based off the the Witcher book series.
The Stadia Founder's Edition launches in November, but Google has said it "is not Netflix for games." In a Reddit AMA, product director Andrey Doronichev said Stadia is more like PlayStation Plus or Games with Gold. He also addressed what happens if Google Stadia shuts down.