All Posts in "Market Watch"
Nasdaq Composite closes higher for a 4th day and stock market books longest win streak of 2022
U.S. stock benchmarks on Wednesday closed higher for a fourth straight session, marking the longest win streak of the year for the S&P 500, Nasdaq Composite and Dow since late December.
Rogers Communications Inc. Cl B stock rises Tuesday, still underperforms market
Shares of Rogers Communications Inc. Cl B RCI.B, +0.06% inched 0.06% higher to C$64.51 Tuesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, +1.05% rising 1.05% to 21,319.92.
Dow ends higher in first session in February as U.S. stocks book third straight day of gains
All three major benchmarks ended higher Tuesday, booking a third straight day of gains after wobbling earlier in the session, as Wall Street closed out February’s first day of trade on a positive note following a rough January.
Google could challenge for $2 trillion market cap after earnings, stock-split news
Both classes of Alphabet shares top $3,000 in extended trading, after Google reveals its blowout financial performance over holidays and a plan to offer 20-for-1 split
AMD stock rallies more than 10% after record results, outlook blow past Street views
CEO Lisa Su says FTC approval is final hurdle for $35 billion acquisition of Xilinx, expects deal to close this quarter
Spire Global Gives Some Preliminary Financial Results, Shares Up 22%
Shares of Spire Global Inc. are trading higher in Monday’s after-hours market, following the release of some preliminary fourth-quarter and full-year financial results.
NIO Inc. Shares Rise 17.7% on Convertible Senior Notes Repurchase
Shares of NIO Inc. rose 17.7% % to $24.62 Monday after the electric vehicle manufacturer said it completed its previously announced repurchase right offer relating to its 4.5% convertible senior notes due 2024.
Gold futures climb for the session, fall for the month
Gold prices settled higher on Monday, but posted a loss for the month pressured, in part, by a rise in Treasury yields over the past few months, said Michael Hewson, chief market analyst at CMC Markets UK.
Netflix stock has best day in a year as analysts say subscriber slowdown doesn’t tell the full story
Analysts highlight pricing power, earnings potential in a pair of upgrades
Shares of Netflix Inc. rocketed to their best day in more than a year Monday after a pair of analysts said the stock’s selloff had gone too far.
Analysts at Citi Research and Edward Jones both upgraded Netflix’s stock NFLX, +11.13% Monday, writing that the stock looks attractive after a recent pullback. The shares are down nearly 40% over the past three months.
Netflix’s stock soared more than 11%, during a strong day for technology names, for their largest single-day percentage gain since Jan. 20, 2021.
While a subscriber slowdown has pressured Netflix’s stock, Edward Jones analyst David Heger expects that investors could come to appreciate the wider scope of the company’s story.
“We have anticipated that as Netflix’s business matures, investors will increasingly value the stock on financial results rather than subscriber growth,” he wrote. “We still expect that Netflix can grow its long term earnings at a double-digit rate as it further expands into international markets.”
That international expansion offers ample opportunities for subscriber growth as well, Heger added. And he likes the company’s overall positioning because he believes Netflix’s investments in content have helped differentiate the service.
He raised his rating on Netflix’s stock to buy from hold.
Citi Research’s Jason Bazinet also feels more upbeat about the current setup for Netflix’s stock. While the company could see more “modest” subscriber gains going forward, he thinks that Netflix’s strong pricing power could be a revenue driver.
Bazinet is feeling similarly optimistic about Spotify Technology SA SPOT, +13.46%, which faces the prospect of a subscriber cool-down as well but has room to better monetize its ad-supported offering, in his view. He upgraded both Netflix and Spotify shares to buy from neutral.
Netflix shares have lost 30% over the past month, as Spotify shares have declined 18% and as the S&P 500 SPX, +1.89% has dipped about 6%.