Netflix reported better-than-expected revenue in the first quarter and significantly outpaced subscriber growth forecasts, but the streaming giant’s second-quarter revenue guidance was around $9.49 billion, compared to analysts’ expectations. 9.53 billion dollars. Netflix also said it will stop providing quarterly membership data and average revenue per member. This metric is always the most interesting for Netflix investors. The stock price fell 6.4%.
Paramount Global soared 8.2% after the New York Times reported that Sony:
‘s
The movie studio division was in talks with Apollo Global Management about bidding for Paramount. The report comes after the Wall Street Journal reported earlier this month that Paramount’s board of directors and members of Skydance Media had agreed to begin exclusive merger discussions.
Tesla fell 1.1% after the National Highway Traffic Safety Administration announced a recall of 3,878 Cybertrucks to fix an issue with the gas pedal. Tesla stock has been falling every day this week. The electric car company is scheduled to report quarterly results next Tuesday.
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American Express rose slightly. The credit card giant reported higher profits and sales in the first quarter as AmEx cardholders, who tend to be more affluent, spent more overall.
Procter & Gamble reported fiscal third-quarter profit that beat analysts’ expectations and raised its fiscal year outlook. However, the stock fell 1.6% as sales of $20.2 billion fell short of expectations of $20.44 billion.
S.L.B.
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The world’s largest oil services company fell 1.6%. The world’s largest oil services company said first-quarter adjusted earnings of 75 cents per share were in line with analysts’ expectations, and revenue exceeded expectations at $8.71 billion, up 13% from a year earlier. reported.
Trump Media & Technology Group
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It was up 7.7%. Shares of the Truth Social Platform’s parent company rose 26% on Thursday, following a 16% rise on Wednesday, wiping out losses this week.
Intuitive Surgical’s first-quarter adjusted earnings were $1.50 per share, beating expectations of $1.42 per share on revenue of $1.89 billion, an 11% increase. Intuitive Surgical announced that the number of surgeries using its da Vinci robotic system increased 16% worldwide compared to the same period last year. The stock price rose 2.4%.
Jabiru
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The electronics manufacturing services company said in a filing that Chief Executive Officer Kenny Wilson will be placed on paid leave pending an investigation “related to company policy.” Jabir did not specify what prompted the investigation, but said, “The conduct that led to this investigation is unrelated to and has no impact on the company’s financial statements or reporting.” Jabiru fell 3%.
KB Home rose 2.7% after the company said its board of directors approved up to $1 billion in stock buybacks and raised its quarterly dividend from 20 cents to 25 cents a share.
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ON Semiconductor fell 2% to $61.70. The intelligent sensing and power services maker’s stock was downgraded by Exane BNP Paribas to “underperform” from “neutral” with a price target of $55.
Canopy Growth fell 2.6% after alcoholic beverage maker Constellation Brands announced a raft of measures aimed at further distancing itself from struggling Canadian cannabis producers. Constellation Brands converted its common stock into non-participating exchangeable stock with no voting rights. In connection with this transfer, three of Canopy Growth’s directors:
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Constellation Brands appointees have resigned.
Email Joe Weelfel at joseph.woelfel@barrons.com.
