Dow Futures Lower as Netflix Tanks 25% After Earnings -Breaking
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Oliver Gray
Investing.com – were trading lower in Tuesday’s evening deals as investors digested disappointing Netflix earnings after major benchmark averages finished higher during regular trading.
The stock indexes were at 6.35pm GMT (0:35 GMT) and down 0.1%. They also fell 0.3% and 0.8% by the close of business.
Netflix Inc (NASDAQ 🙂 dropped 25% after it announced a loss to 200,000 subscribers during the first quarter. While the company saw a rise in earnings, it missed on revenue. Similar streaming stocks Roku Inc (NASDAQ:), Spotify Technology SA (NYSE:) Walt Disney The stock of Company (NYSE) fell 6.3%, 4.3%, and 4.5%, respectively.
Interactive Brokers Group Inc. (NASDAQ) fell 0.2% after reporting its quarterly earnings. The company a miss on revenue but saw earnings per share of 82 cents, which fell in line with analysts’ estimates.
International Business Machines was 1.3% higher after beating the top and bottom lines during the first quarter. Adjusted EPS came in at $1.40 instead of the $1.38 predicted, and revenue reached $14.2 million versus the $13.85 billion anticipated.
During Tuesday’s regular trade, The gained 499.51 points or 1.5% to close at 34,911.20. The gained 1.6% to 4,462.21, while the surged 2.2% at 13,619.66.
The rate rise and the earnings reports of regional and small-sized banks boosted bank stock performance. JPMorgan Chase & Co (NYSE:) added 2.1%, Bank of America Corp (NYSE:) gained 1.9% and Citigroup Inc (NYSE: ) gained 1.2% Citizens Financial Group Inc (NYSE:) The stock rose 6.8%, beating first quarter estimates for top and bottom line on Tuesday morning.
Yields in the bond markets reached a fresh record of 2.94% after reaching a 40-month high.
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