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

Published 04/19/2024, 07:42 AM
Updated 04/19/2024, 11:45 AM
© Reuters.
(Updated - April 19, 2024 11:43 AM EDT) -- 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 (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

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