Netflix, Verizon Fall Premarket; Nasdaq Rises By

© Reuters.

By Peter Nurse — Stocks in focus in premarket trade on Wednesday, April 21st. Please refresh for updates.

  • Netflix (NASDAQ:) stock fell 8.5% after the streaming giant reported a dramatic slowdown in subscriber growth in the first quarter, with just under 4 million people signing up from January through March, below the 6.25 million expected. The company also estimated it will add just 1 million new streaming customers in the second quarter, while analysts had expected a forecast of nearly 4.8 million.

  • Verizon (NYSE:) stock fell 0.5% after the telecommunications giant lost more wireless subscribers than expected, to the tune of 178,000 wireless phone subscribers, during the first quarter as it faced intense competition from its rivals.

  • Nasdaq (NASDAQ:) stock rose 1% after the stock exchange operator beat quarterly expectations, helped by double-digit increases in equity and fixed income trading revenue. The company also announced a 10% dividend increase.

  • Welbilt (NYSE:) stock soared 18% after the maker of professional foodservice equipment agreed to being taken over by rival Middleby (NASDAQ:), down 6.5%, in an all-stock transaction with an implied value of $4.3 billion.

  • Interactive Brokers (NASDAQ:) stock rose 2.1% after the brokerage firm posted better-than-expected first-quarter results on higher customer trading volumes within an active trading environment worldwide.

  • Tenet Healthcare (NYSE:) stock rose 3% after the company reported stronger-than-expected quarterly earnings and increased its FY 2021 outlook.

  • Intuitive Surgical (NASDAQ:) stock rose 3.9% after the surgical-robotics equipment firm beat quarterly expectations, reporting a return to double-digit growth for procedures using its da Vinci robotic surgery system. 

  • Procter & Gamble (NYSE:) stock fell 0.4% after Citigroup (NYSE:) downgraded its investment stance on the consumer staples giant to ‘neutral’ from ‘buy’ after its earnings report, saying the company faces tough spring and summer quarters.

  • Norwegian Cruise Line (NYSE:) stock rose 2.2% after Goldman Sachs (NYSE:) upgraded its stance to ‘buy’ from ‘neutral’, saying the cruise operator is best positioned to benefit from the industry’s restart, when it arrives.

  • CSX (NASDAQ:) stock fell 0.1% after the railroad operator’s first-quarter profit declined 8%, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.

  • GameStop (NYSE:) stock rose 1.3% after Reuters reported that CEO George Sherman will receive a windfall of just under $180 million when he steps down at the end of June thanks to a deal that was inflated by this year’s dramatic meme stock rally.

  • Anthem (NYSE:) stock rose 1.3% after the health insurer posted a 9.3% rise in first-quarter profit, helped mainly by higher revenue from its unit that includes its pharmacy benefits management business.


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