Friday’s Headlines: Netflix Launches Its Own Store

Friday’s Headlines: Netflix Launches Its Own Store

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

RH (RH) +15.7%

ServiceNow (NOW) +5.3%

Align Technology (ALGN) +4.6%

MercadoLibre (MELI) +4.3%

Spotify (SPOT) +4.0%

Moving Down ⬇️

Nautilus (NLS) -4.7%

Silicon Valley Bank (SIVB) -4.7%

Redfin (RDFN) -4.2%

Lemonade (LMND) -3.6%

Chuy's (CHUY) -3.2%

1. Have you ever wanted to get your hands on a Dustin from ‘Stranger Things’ doll? No? Well, too bad, because you can buy one now after Netflix (NFLX) announced yesterday that it is launching a merchandise store: Netflix.shop. Although toys have not been revealed yet, what Netflix has confirmed is that it will be selling apparel and lifestyle merchandise related to its top shows — much like the clothes you’d find in a Disney (DIS) store, but without all the Princess Elsas. It’s not clear how such an endeavor will impact Netflix’s bottom line, but we’ll have to wait and see during Netflix’s next earnings report. Read the official press release here.

2. E-commerce giant Shopify (SHOP) announced on Thursday that it will provide its merchant customers with installment payment plan services through a deal with Affirm Holdings (AFRM). At checkout, consumers will be able to split payments into four equal installments interest-free and with no additional fees, Shopify said in a blog post. The service is known as buy now, pay later, or BNPL services. “We built Shop Pay Installments to give merchants a critical and easy-to-use financial tool to grow their sales… Together we are delivering the best possible buy now, pay later experience for merchants and their buyers,” said Kaz Nejatian, VP, Product, Merchant Services at Shopify. Read the official press release here

3. Yesterday, Microsoft (MSFT) announced its intention to release its first-ever dedicated device for game streaming. This device allows people to plug into their TVs and use it as a Netflix-like cloud gaming service — complete with a subscription-based business model, which Microsoft believes is the future of gaming. Microsoft has been stepping up its investments in gaming of late, finalizing its acquisition of the iconic studio Bethesda for $7.5 billion back in March, marking its biggest video game-related purchase yet. Read more here

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