Stock futures open little changed after Netflix earnings miss and its shares tank

's quarterly report sent the stock tumbling and raised concern about one of the best-performing spaces in the market during the pandemic.

Netflix reported second-quarter earnings that missed analyst expectations, pushing the stock down 10% in after-hours trading. The company's guidance for third-quarter subscriber growth — a key metric for the streaming giant — also contributed to the steep sell-off in the stock."This is a terrible number," Tim Seymour, founder of Seymour Asset Management, told CNBC's "," referring to Netflix's subscription growth guidance.

Wall Street was also coming off a broad decline as investors pored over a mixed batch of economic data. The Dow slid 135 points, or 0.5%, to snap a four-day winning streak. The S&P 500 and Nasdaq Composite dipped 0.3% and 0.7%, respectively.. Economists polled by Dow Jones expected a gain of 1.25 million.

Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, said the market took the better-than-forecast retail sales data with "a grain of salt."

Keep pumping and make traps for other FANNG stocks. NFLX is the first one. We will see AAPL dumping as no more Chinese buying iPhone.

Same old second quarter story. Not worried.

Subscribers crushed projections, but light subscriber forecast 🤦🏻‍♂️

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix stock options traders are ready for a big move after earningsTraders of Netflix Inc. stock options are prepared for a big move on Friday, in reaction to the streaming video giant’s much anticipated earnings report.
Source: MarketWatch - 🏆 3. / 97 Read more »

LIVE: Netflix reports Q2 earnings as its stock remains near all-time highs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market live updates: Dow up 300, reopening trades rocket higher, Goldman risesPositive data from Moderna about a coronavirus vaccine candidate boosted stocks on Wednesday morning. Shares of airlines and cruise operators gained ground amid optimism for a near-term end to the health crisis and an economic recovery. Esa estatua les esclaviza , como ninguna y no la tiran ? whats Goldman Sachs say? I gave up listening to them long ago and laughed in April when they said $240. at what point do you lose your assignment?
Source: CNBC - 🏆 12. / 72 Read more »

Stock-picking strategy, how to find 10-bagger winners: Paul Andreola - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. thought were karate Choppin his head
Source: BusinessInsider - 🏆 729. / 51 Read more »