Wednesday April 21, 2021
Netflix plunge continues
Wall Street on the road to recovery
After two consecutive trading days of profit-taking, Wall Street stock prices made up some of the losses by midweek. At Netflix, the poor customer growth continues one day after the announcement.
After the recent price slide, some investors are taking the opportunity to re-enter the US stock market. Ultimately, the Wall Street barometer went Dow 0.93 percent higher to 34,137.31 points from the day. On Friday it had climbed to 34,256 points at times and thus reached a high. For the next two trading days, investors took profits once.
The market breadth S&P 500 also switched 0.93 percent, which is a reading of 4173.42 meters meant. The Nasdaq Selection Index 100 advanced 0.91 percent to 13,935.15 points in front. The rising number of coronavirus cases in some regions of the world worried investors, said Derek Halpenny, chief analyst at Bank Mitsubishi UFJ. Nobody doubts that the economy will recover strongly from the consequences of the pandemic.
Meanwhile, crude oil investors speculated on falling demand due to the threat of tightening corona restrictions in India. The US variety WTI Cheaper by 1.7 percent $ 61.39 a barrel (159 liters). “With around 4.5 million barrels a day, India is one of the world’s leading oil importers,” said Commerzbank analyst Carsten Fritsch. Some investors have therefore returned to “safe havens”. How the “anti-crisis currency” won gold 0.9 percent up $ 1,794 per troy ounce (31.1 grams).
With a price minus at times of 7.4 percent drove Netflix the biggest daily loss in half a year. The net customer growth of the online video library was around four million, around a third lower than expected in the past quarter. The forecasts were quite optimistic, said investment strategist Michael Hewson from brokerage firm CMC Markets. After the boom last year, slower customer growth comes as no surprise. Also Verizon disappointed with its user numbers. The mobile operator lost 178,000 customers. However, sales and profits exceeded the analysts’ forecasts. The papers yielded 0.4 percent.
The share of Welbilt on the other hand rose by almost well 44 percent. This is the biggest leap in the company’s history. Competitor Middleby is offering $ 20.68 per share, or a total of $ 2.9 billion, for the commercial kitchen supplier. Middleby titles rose seven percent to a record high of $ 178.39. In response to these merger plans, the shares of German rival Rational turned positive and closed a good two percent higher.
The titles of the pharmaceutical company were also in demand Ocugenthat around almost 18 percent more expensive. According to test results, the coronavirus vaccine from development partner Bharat Biotech prevents serious disease progression 100 percent. Overall, the effectiveness is 78 percent.
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