🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Midday movers: Netflix, Super Micro fall; Paramount Global gains

Published 2024-04-19, 08:02 a/m
© Reuters.
PARA
-
AXP
-
PG
-
NFLX
-
TSLA
-
(Updated - April 19, 2024 11:43 AM EDT)

Investing.com -- Main U.S. indexes traded lower Friday, hit by falling risk appetite as tensions in the Middle East escalate in the wake of Israel’s reported strike on Iran.

Here are some of the biggest U.S. stock movers today:

Netflix (NASDAQ:NFLX) stock fell 8.4% after the streaming giant forecast weaker-than-expected revenue for the current quarter amid expectations for slower net additions, overshadowing better-than-expected first-quarter results after blowout subscriber growth.

Tesla (NASDAQ:TSLA) stock fell 0.2% with the EV manufacturer recalling 3,878 Cybertrucks due to an issue where the accelerator pedal pad could dislodge and become trapped by the interior trim, according to the U.S. National Highway Traffic Safety Administration.

Procter & Gamble (NYSE:PG) stock fell 1% after the consumer products behemoth missed expectations in the first quarter, with revenue flat year on year at $20.2 billion. That said, the company raised its EPS growth guidance while maintaining its top-line outlook for the fiscal year.

American Express (NYSE:AXP) (AXP) rose 4.2% after the financial services group reported a quarterly profit beat, helped by an acceleration in new card acquisitions during the latest quarter, yet it only reaffirmed its full-year guidance.

Paramount Global (NASDAQ:PARA) stock soared 9.6% after Reuters reported Sony (NYSE:SONY) (SONY) Pictures Entertainment and Apollo Global Management (NYSE:APO) are discussing making a joint bid for the entertainment giant.

Schlumberger (NYSE:SLB) stock fell 1.4% after the oil services company reported a softer North American market, which was overshadowed by international revenue growing by 18% year on year.

Super Micro Computer (NASDAQ:SMCI) stock fell 18% after it announced plans to review its third quarter fiscal 2024 financial results on Tuesday, April 30. The announcement didn’t include preliminary figures, frightening some investors banking on strong growth.

NVIDIA (NASDAQ:NVDA) fell 3% and AMD (NASDAQ:AMD) fell 3.2% in part because of weakness in Super Micro.


Additional reporting by Louis Juricic

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.