Interesting day the 21st of April on the US market, where IBM and Procter & Gamble’s strong gains helped soften the blow from Netflix’ slump
Netflix’s (-35.12%) stock price fell more than 35% after reporting a decline in subscribers for the first time since 2011, and forecasting further pain ahead with another 2 million expected to drop by this summer.
Investors fretted out on Netflix difficulties and streamers were hit hard by this. Walt Disney (-5.56%), Roku(-6.17%) and Warner Bros Discovery (-6.04%) all took heavy losses, while other streaming companies like Amazon (-2.6%) Prime Video or YouTube TV had less dramatic effects because of their diversification.
On the Tech side, IBM (+7.10%) helped limit the downside of the sector thanks to the better-than expected quarterly results that showed demand for cloud adoption remains stable.
It was the reporting day also for another giant: P&G (+2.66%). The company reported second quarter results that topped investor expectations, and raised its annual sales guidance as demand for cleaning products remained robust.
On the financial side, M&T Bank Corp (+8.82%) shot up more than 8% in trading hours on its stronger than expected quarterly results, which were fueled by an increase in lending business.
Even if Tesla’s (-4.96%) reported an impressive quarter with more than double what was expected in sales. Stock closed down nearly 4% ahead of its quarterly results due after the closing bell, but it began to climb following word that they had beaten estimates by a wide margin.
Mr Musk’s company reports $18.76 billion in revenue and record margins in Q1. We can predict that on Thursday we will see a sparkling day around the Electric Car Brand. EPS (Earning per Share) at 3.22 vs 2.26$ expected and Revenues 1 billion higher than expected.
Most traded stocks:
- Netflix -35.12% Volumes 132.40M
- Apple -0.10% Volumes 67.18M
- AMD -3.00% Volumes 62.23M
- NVIDIA -3.23% Volumes 46.62M
- Meta Platforms -7.77% Volumes 42.73M
Top Gainers of US Stocks
- Ion Geophysical +91.23%
- Winc +65.13%
- Clarus Therapeutics Holding Inc +43.45%
- GWG Holding Inc +38.50%
- Borqs Tech +31.11%
Top Losers of US Stocks
- Netflix -35.12%
- Sky Harbour -22.08%
- Aterian -20.51%
- Mullen Automotive -16.57%
Guardfoce AI -16.06%
