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$365.80 | 3.99 | 1.10% | 3.99 1.10% |
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Netflix Inc. shares on Tuesday extended a multisession record run, notching their third straight close at an all-time peak amid a broad rally for the technology-and-internet group. Shares of the streaming-services company rose 1.1% to hit a record close at $365.80. The Los Gatos, Calif.-based company's shares have risen by more than 90% so far in 2018, according to FactSet data. By comparison, the broad-market S&P 500 index has returned 2.8% thus far in 2018, while the Dow Jones Industrial Average has advanced by 0.3% over the same period. The all-time top for Netflix comes as the technology-heavy Nasdaq Composite Index rose 0.4% to a close at its second straight record at 7,637.86, after notching its first all-time peak on Monday since March 12.
Netflix shares close at a record high $365.80, up 1.1% for the day
Twitter Inc. shares rallied in the extended sesion Monday after S&P Dow Jones Indices announced the microblogging platform would join the S&P 500 index . Twitter shares rose 3.8% after hours, following a 3.4% rise to close at $37.88 in the regular session. Twitter shares are up 58% for the year, compared with a 2.7% rise in the S&P 500. Twitter will replace Monsanto Co. , which is being acquired by Bayer AG , on Thursday. On the S&P 100 index , Netflix Inc. will replace Monsanto. Netflix shares were up 0.2% after hours.
Maxim Group analyst Nehal Chokshi downgraded Apple Inc. shares to hold from buy on Wednesday based on some skepticism about the company's services strategy. He wrote that Apple might have trouble achieving high attach rates for some of its services offerings due to the company's "ecosystem-centric approach," given that his survey work indicates that only about a third of iPhone users also use Macs. He wrote that some Windows users might "shun the Apple subscription services" because the services wouldn't be easily compatible with all their devices. Chokshi also said that the company will face a lot of "entrenched competition" from Netflix Inc. as it deepens its interest in video and may not be very successful with the expected launch of a news-subscription product, since his survey work found that many consumers don't pay for news. Chokshi wrote that fiscal 2019 could be a "down year" for Apple given trends in the broader smartphone market. Shares are down 0.1% in premarket trading but up 22% over the past 12 months, while the Dow Jones Industrial Average has gained 11%.
Netflix Inc.'s stock price target was raised to $390 from $320 at MKM Partners, but analyst Rob Sanderson said the streaming video services company was no longer a "top pick" given the massive increase in the stock's valuation over the years. The stock slipped 0.3% in premarket trade Tuesday. Sanderson's new price target is the third highest of the 43 analysts surveyed by FactSet, and implies a market capitalization of $169.5 billion. He noted that the stock has rocketed about 1,300% since April 16, 2013, while the S&P 500 has climbed 73%. "The stock has remained our top pick throughout this time as our expectations for subscriber growth and EPS power justified a significantly higher valuation," Sanderson wrote in a note to clients. "This is now catching up to our view." He said he still believes Netflix has among "the very best fundamentals" as it joins the internet mega caps, but the stock is becoming fairly valued.
--ITV and the BBC are exploring a deal to buy Discovery's stake in broadcaster UKTV and form a joint venture worth 1 billion pounds ($1.33 billion), the Telegraph reports. --UKTV is currently owned by the BBC and Discovery, after the U.S. media company acquired Scripps Networks Interactive, but the British broadcaster has an option to buy out its partner by the end of next week, according to the Telegraph.
Netflix stock price target raised to $390 from $320 at MKM Partners
Roku Inc. shares are up 4.5% in Friday trading after short sellers at Citron Research said they had changed their stance on Roku and now have a long position in the stock. "Roku is trading at the largest discount ever to over-the-top peers despite being the only OTT pure play that generates ad revenue," wrote the Citron team in a report. "With the recent surge in Netflix Inc. stock, Netflix could look towards advertising to generate new revenue and could easily acquire Roku." Citron initiated a short position in Roku in late November. Shares are up 168% from Roku's September IPO price of $14.
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Shares of Amazon (AMZN) opened over 1% higher on Tuesday to hit $1,686.94, which marked a brand new all-time high for the e-commerce and cloud computing behemoth. The question for investors is should they buy Amazon stock now or wait hoping the price comes down.
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Netflix Inc. (NFLX), Twitter Inc. (TWTR), and REGENXBIO Inc. (RGNX) are up in pre-market trading on news that they will be added to certain S&P Dow Jones Indices. Here's what you need to know.
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Netflix, Inc. operates as an Internet subscription service company, which provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming, and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting solely of streaming content to its members in the United States. The International Streaming segment includes fees from members outside the United States. The Domestic DVD segment covers revenues from services consisting solely of DVD-by-mail. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
BCE Inc. | $37.63B | |
Amazon.com Inc. | $808.03B | |
Comcast Corp. Cl A | $143.99B | |
DISH Network Corp. Cl A | $13.57B | |
Walt Disney Co. | $149.03B |