Friday’s Headlines: Netflix’s Run Comes To An End

Friday’s Headlines: Netflix’s Run Comes To An End

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

IMAX (IMAX) +5.9%

Zillow (Z) +5.3%

Spotify (SPOT) +3.9%

FedEx (FDX) +3.0%

Stitch Fix (SFIX) +2.7%

Moving Down ⬇️

Datadog (DDOG) -3.6%

Sea Limited (SE) -3.7%

Ctrip (TCOM) -4.0%

Texas Roadhouse (TXRH) -4.4%

Tripadvisor (TRIP) -4.5%

1. You know what they say: all good things come to an end, and it looks like Netflix’s (NFLX) bull run in 2020, which has seen it rise 60% YTD, could be over after its Q2 earnings. Despite beating on revenue of $6.15 billion with 10.09 million new subscribers, EPS of $1.59 vs. $1.81 expected has rubbed investors the wrong way, sending shares tumbling 9% after hours. The company also announced that Chief Content Officer Ted Sarandos will become co-CEO alongside current CEO Reed Hastings. Get the full earnings report here.

2. Dominos’ (DPZ) latest quarterly report should have made investors very happy after the pizza giant blew past expectations. Total revenue came in at $920.0 million, up from $811.6 million last year, while EPS was $2.99 per share, versus analyst estimates of $2.24. This winning recipe wasn’t to Wall Street’s liking though it seems as shares fell 1.49% by market close, yet Dominos stock still remains up 39% YTD. Anyone else feeling hungry? Get the full report here.

3. You might have noticed that your Spotify (SPOT) shares have jumped 4% — no, Joe Rogan isn’t doing a second exclusive. Instead, former first lady Michelle Obama will be launching an exclusive podcast as of July 29. Obama’s millions of fans will likely be a welcome addition to Spotify’s already 300 million free and paid users worldwide as the music streaming leader seeks to corner the growing podcast market. This costly strategy has paid off thus far, with Spotify's total monthly active users and premium subscribers both increased by 31% year over year to 286 million and 130 million respectively in the first quarter. Read the full story here.


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