
Friday's Stock News After Five Straight Down Days
After rising for as long as what seemed to be too good to be true, the S&P 500 (SPY) fell for a fifth straight day on Thursday. This is the worst week in nearly six months.
Today, Netflix (NFLX) will pull back by around 5%. Shares traded at a 35.9 times forward price-to-earnings ratio ahead of the first-quarter earnings report. The firm added 9.33 million paid net additions and now has $269.6 million. Despite revenue increasing by 15% to $9.37 billion and $2.63 billion in operating income, up by 54%, markets are worried.
Netflix will stop disclosing its quarterly membership figures. Instead, shareholders must rely on overall free cash flow and profits.
Rate Cut Hope Faded
Q1 earnings are not leading the market's direction. For example, Taiwan Semiconductor (TSM) posted strong revenue growth, despite seasonally weak smartphone markets. TSM stock dropped by 4.86% yesterday.
Anticipation for the Fed delaying rate cuts until at least September hurt the market's sentiment. REITs are especially vulnerable. REITs are in a steep correction phase. Their cash flow is less attractive to investors when rates remain high. Prologis (PLD) lost 12.94% last week and American Tower (AMT) fell by 4.3%. Conversely, Realty Income (O) and W.P. Carey are mostly unchanged in that time.
- About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment