Netflix Inc (NASDAQ:NFLX) stock plummeted by 20% on Friday pre-market trading after the streaming giant warned subscriber growth could slow in the beginning of 2022. The plunge would account for a $46 billion loss in market value.
As reported by the Financial Times, Netflix’s stock dived $100 from Thursday’s closing price to $402 in pre-market trading on Friday, after the streaming company conceded it could only add 2.5 million subscribers in the first three months of this year.
The staggering prediction is way lower than the 4 million subscribers the company added in the first quarter of 2021, and also well below analysts’ expectations that were around the same figure.
“Netflix’s disappointing forecast came as Peloton was forced to rush out preliminary second-quarter earnings to shore up investor confidence after CNBC reported the company was temporarily halting production of its connected fitness products,” according to the Financial Times.
“Shares in Peloton, one of the biggest beneficiaries of early COVID-19 lockdowns, fell about a quarter following the report.”
Netflix is not the only company that saw both a great success during the pandemic and a sharp drop in stock prices afterward.
Zoom Video Communications Inc (NAZDAQ:ZM) is feeling the heat as its shares have plummeted 11% since the beginning of this year, after securing great success during the remote work explosion.
The Financial Times reports that “Other pandemic beneficiaries such as e-signature specialist DocuSign Inc (NASDAQ:DOCU) and Netflix rival Roku Inc (NASDAQ:ROKU) have tumbled more than 20% in 2022.”
As the Federal Reserve is set to raise interest rates at a faster pace than previously anticipated —to tackle inflation— investors have gone cold on the tech business. This is because the higher interest rates decrease the value they put on future profits when it comes down to fast-growing firms.
Further, as a new normality waves in, the number of new Netflix subscribers starts to tail off after the firm invested so heavily in content to attract and keep users.
“Netflix also undershot expectations for net new subscribers in the last quarter of 2021, adding 8.3m versus expectations ranging from 8.4 million to 8.7 million. That brought the total number of paying customers to 222 million.”
Netflix is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders’ families.
TFI International Inc. (TFII) came out with quarterly earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items. – Zacks This quarterly report represents an earnings surprise of ...
See Details: TFI International Inc. (TFII) Q4 Earnings and Revenues Surpass Estimates
Aerial view of apartment complexes in central Seoul (Yonhap)Some 400,000 people were found to have left Seoul to move to neighboring metropolitan areas last year, government data showed Tuesday, with surging housing prices being cited as the key reason behind the exodus. According to Statistics Korea, a total of 406,975 ...
See Details: More people moving out of Seoul amid surging housing prices
Most of us give tacit acknowledgement to the touted value of soft skills: CEOs and executive teams realize the importance of workplace culture for retention and revenue. Brian Chesky, Co-founder and CEO of Airbnb, said, “When the culture is strong, you can trust everyone to do the right thing.” In ...
See Details: Why People-first Innovation Is Crucial In 2022
In the latest trading session, Lazy Days Holdings (LAZY) closed at $16.53, marking a +0.98% move from the previous day. The stock outpaced the S&P 500’s daily loss of 0.37%. – Zacks Heading into today, shares of the company had lost 15.01% over the past month, lagging the Consumer Discretionary ...
See Details: Lazy Days Holdings (LAZY) Gains As Market Dips: What You Should Know
In the latest trading session, Fisker Inc. (FSR) closed at $11.24, marking a -0.88% move from the previous day. This change lagged the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 30.17% in the past month. In that same time, ...
See Details: Fisker Inc. (FSR) Dips More Than Broader Markets: What You Should Know
Triton International (TRTN) closed the most recent trading day at $61.10, moving +0.31% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the shipping container leasing company had lost 1.36% in the past month. In that ...
See Details: Triton International (TRTN) Gains As Market Dips: What You Should Know
Asbury Automotive Group (ABG) closed the most recent trading day at $151.49, moving -0.81% from the previous trading session. This move lagged the S&P 500’s daily loss of 0.37%. – Zacks Heading into today, shares of the auto dealership chain had lost 12.82% over the past month, lagging the Retail-Wholesale ...
See Details: Asbury Automotive Group (ABG) Dips More Than Broader Markets: What You Should Know
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: Cushman & Wakefield (CWK) Gains As Market Dips: What You Should Know
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: Wesco International (WCC) Gains As Market Dips: What You Should Know
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: Big Tech Looks To Buy Beaten Down Innovation-Fueled Entrants
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: HP (HPQ) Stock Moves -0.29%: What You Should Know
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: One Stop Systems, Inc. (OSS) Flat As Market Sinks: What You Should Know
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: Luminar Technologies, Inc. (LAZR) Gains As Market Dips: What You Should Know
Cushman & Wakefield (CWK) closed the most recent trading day at $21.46, moving +1.18% from the previous trading session. This change outpaced the S&P 500’s 0.37% loss on the day. – Zacks Coming into today, shares of the company had lost 2.35% in the past month. In that same time, ...
See Details: NCLT okays Taguda's revival plan for Ushdev International
AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Graphics ... Read more »
Lenders to Reliance Capital have appointed KPMG India as their process advisor andetL&L Partners the legal counsel to help negotiate the challenges in the resolution of Anil Ambani-promoted Reliance Capital, ... Read more »
The industrial complex in the southern port city of Ulsan where production bases of Korea’s major petrochemical companies are located (Yonhap)South Korean oil refiners’ key profitability measure has been rising ... Read more »
Buckle (BKE) closed at $37.24 in the latest trading session, marking a +1.36% move from the prior day. This change outpaced the S&P 500’s 0.37% loss on the day. – ... Read more »
In the latest trading session, AutoNation (AN) closed at $103.57, marking a -0.46% move from the previous day. This change lagged the S&P 500’s 0.37% loss on the day. – ... Read more »
fuboTV Inc. (FUBO) closed at $10.07 in the latest trading session, marking a -0.3% move from the prior day. This change was narrower than the S&P 500’s 0.37% loss on ... Read more »
In the latest trading session, Fiverr International (FVRR) closed at $81.01, marking a -0.52% move from the previous day. This change lagged the S&P 500’s daily loss of 0.37%. – ... Read more »
Sterling Construction (STRL) closed at $27.51 in the latest trading session, marking a +1.63% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »
Boise Cascade (BCC) closed at $77.20 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »
In the latest trading session, CRISPR Therapeutics AG (CRSP) closed at $62.36, marking a +0.76% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.37%. ... Read more »
Bausch Health (BHC) closed the most recent trading day at $24.39, moving -0.53% from the previous trading session. This move lagged the S&P 500’s daily loss of 0.37%. – Zacks ... Read more »
Wall Street has been mostly kind to investors so far in February after a tough January. Market participants are upbeat about improving U.S. economic conditions as reflected by encouraging fourth-quarter ... Read more »
Bank of Nova Scotia (BNS) closed at $73.75 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500’s daily loss of ... Read more »
Fox FOXA is set to report second-quarter fiscal 2022 results on Feb 9.For the quarter, the company’s current Zacks Consensus Estimate for earnings is pegged at breakeven against a loss ... Read more »
In the latest trading session, Generac Holdings (GNRC) closed at $279.97, marking a +0.01% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »
Spirit Airlines Incorporated (NYSE:SAVE) and Frontier Group Holdings Inc (NASDAQ:ULCC) have announced a $6.6 billion merger to create one of the largest low-cost airlines in the U.S. The new airline ... Read more »
The First Trust Energy AlphaDEX Fund FXN is probably a suitable pick for investors looking for momentum. FXN hit a 52-week high and is up 59.6% from its 52-week low ... Read more »
In a document filed with the U.S. Securities and Exchange Commission (SEC), Meta Platforms Inc (NASDAQ:FB) has warned it could be forced to close Facebook and Instagram in Europe if ... Read more »
U.S. stock index futures crept higher during overnight trading Monday, after the major averages moved between gains and losses during regular trading as the market awaits key inflation data later ... Read more »
To-do lists are helpful tools for many people, but they can quickly take over our lives, making daily living feel like just another item to cross off of a never-ending ... Read more »
Immunovant, Inc. IMVT reported a net loss of 36 cents per share in the third quarter of fiscal 2022 (ended Dec 31, 2021), wider than the Zacks Consensus Estimate of ... Read more »
The Buckle, Inc. BKE looks well poised on the back of its robust strategic efforts, including strength in e-commerce business and an impressive sales trend. BKE has been putting up ... Read more »
Wall Street put up a moderate show last week with the S&P 500 (up 1.6%), the Dow Jones (up 1.1%), the Nasdaq Composite (up 2.4%) and the Russell 2000 (up ... Read more »
The Interpublic Group of Companies, Inc. IPG is scheduled to report fourth-quarter 2021 results on Feb 10, before the opening bell. – Zacks Let’s check out how things have shaped ... Read more »
Mednax, Inc. MD and its affiliated practices Pediatrix Medical Group recently acquired Night Lite Pediatrics, LLC in Orlando, FL. Night Lite is a private 13-clinic pediatric urgent care practice. The ... Read more »
Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 7th: – Zacks Apple AAPL: This company whose business primarily runs around its ... Read more »
Shares of Gol Linhas GOL have displayed an uptrend on the bourses over the past month, gaining 16.2% against its industry’s 3.1% decline. – Zacks Image Source: Zacks Investment Research ... Read more »
Monday, February 7, 2022 The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Bank ... Read more »
Sanofi SNY announced that the FDA has approved its monoclonal antibody, Enjaymo (sutimlimab-jome), to decrease the need for red blood cell transfusion due to hemolysis in adult patients with cold ... Read more »
For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »
Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C.Bloomberg | Bloomberg | Getty Images The IRS on Monday announced it will stop using a controversial third-party service for ... Read more »
Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »
“You gotta answer your DMs, man,” says Jairek Robbins, half laughing, in his latest Brilliant Thoughts interview with Tristan Ahumada. Robbins, who is an acclaimed business coach, best-selling author and ... Read more »
Investors might want to bet on Xilinx (XLNX), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and ... Read more »
Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »
For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »
BankUnited, Inc. BKU has announced a new share repurchase plan. The company’s board of directors has approved the repurchase of up to $150 million in shares of BKU’s outstanding stock. ... Read more »
TEGNA Inc. TGNA shares rallied 7.4% in the last trading session to close at $21.34. This move can be attributable to notable volume with a higher number of shares being ... Read more »
BCB Bancorp (BCBP) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »
Marathon Oil (MRO) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »
