Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

Stock market today: S&P 500, Dow in fresh record close as Netflix shines

Investing.com– The S&P 500, Dow closed at fresh record highs, as investors digested more quarterly corporate earnings, including stronger-than-expected numbers from streaming giant Netflix.

At 4.00 p.m. ET (2000 GMT), the Dow Jones Industrial Average rose 37 points, or 0.1% to a record close of 43,275.91, the S&P 500 index climbed 0.4% to a record close of 5,864.67, and the NASDAQ Composite gained 0.6%.

Netflix surges on Q3 beat

Netflix (NASDAQ:NFLX) shares rose over 11% after the streaming giant reported stronger-than-expected third-quarter earnings and also provided an upbeat outlook for the current quarter.

The firm added more subscribers than expected, with more people signing up for Netflix’s ads-based subscription tiers.

“The most significant advantage of the ad tier so far is that it limits churn, lowering pressure on adding new subscribers,” Wedbush said in a Friday note as it lifted its price target on the stock to $800 from $775.

The earnings set a positive tone for upcoming prints from several technology firms in the coming week. Alphabet (NASDAQ:GOOGL) is set to report on Tuesday, while Tesla (NASDAQ:TSLA) and Amazon (NASDAQ:AMZN) are due later in the week.

Elsewhere, American Express (NYSE:AXP) stock dropped over 3% after the credit card giant reported third-quarter profit revenue below expectations and bigger provisions for credit losses, even as higher spending on its cards prompted an increase in full-year guidance.

Procter & Gamble (NYSE:PG) stock fell 0.6% after the household goods manufacturer missed expectations for first-quarter sales on Friday, as consumers in its major markets, the U.S. and China, switched to cheaper household and personal care brands.

CVS health tumbles on leadership change; Lamb West rises on activist interest

CVS Health Corp (NYSE:CVS) fell more than 5% after the pharmacy chain said it had appointed David Joyner as chief executive, succeeding Karen Lynch,

Lamb Weston Holdings Inc (NYSE:LW) jumped more than 10% after activist investor Jana Partners said it had taken a stake in company and detailed plans to encourage the company to explore a sale.

(Peter Nurse, Ambar Warrick contributed to this article.)

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com