Netflix Beats As Earnings Season Gets Ready To Heat Up | CPT PPP Coverage
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Netflix Beats As Earnings Season Gets Ready To Heat Up appeared on www.forbes.com by JJ Kinahan.
Key Takeaways
- Netflix New Subscribers Greater Than Expected
- Layoffs At Alphabet
- Crude Oil Climbing
Markets on Thursday gave up around 1% across the board following some weaker than expected economic news Wednesday. The slowdown in both retail sales and Producer Price Index (PPI), shifted investor concerns from out of control inflation to recession. The drop in equity prices has sent the Dow into negative territory on the year, though the S&P 500 and Nasdaq remain in positive territory.
After the close on Thursday, Netflix
NFLX
In other earnings related news, Nordstrom guided lower following a weaker than expected holiday season. The retailer shifted their revenue guidance to the lower end of 5 – 7%, while also cutting their earnings per share estimate by nearly half. Nordstrom is scheduled to report earnings in March.
Meanwhile, the pace of layoffs continues. Google
GOOG
On the inflation front, crude oil futures are up 0.5% in premarket trading. March crude is now trading just over $81 per barrel. Since its December low, crude oil is up close to 15%. According the AAA, the average price for a gallon of regular gas is currently $3.39. That is up from $3.12 last month and just slightly above the $3.32 this time last year. For those hoping inflation has been tamed, this is certainly a commodity worth watching.
Heading into Friday trading, futures are slightly higher in premarket activity. As mentioned above, the news out of Netflix has the stock indicated to open higher by around $20. We’ll see if that can hold and carry the rest of the market with it. At the same time, it’s worth noting volatility has increased this week, albeit, ever-so-slightly.
The VIX closed Thursday at 20.52. Last Friday, it closed the week at 18.35, so we’re seeing some signs of fear creeping back into the market. A couple more obscure indicators, such as the SKEW Index and the VVIX Index, are also ticking higher. This could be a result of earnings season picking up next week with heavyweights such as Microsoft
MSFT
BA
IBM
tastytrade, Inc. commentary for educational purposes only.
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This article originally appeared on www.forbes.com by JJ Kinahan – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
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