- Netflix drags down nasdaq futures
- Treasuries halt rally after 10-year yield slid to 5-week low
U.S. futures were mixed as underperformance in the Nasdaq 100 signaled the rotation away from pandemic favorites is gaining ground. Treasury yields halted a slide that had taken them to a five-week low.
At 8:00 a.m. ET, Dow e-minis were up 11 points, or 0.03%, S&P 500 e-minis were down 0.75 points, or 0.02%, and Nasdaq 100 e-minis were down 26.75 points, or 0.19%.
Netflix,the streaming service provider tumbled 8.5% in premarket trading after its report showed slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.
Stocks making the biggest moves in the premarket:
Netflix (NFLX) – Netflix tumbled 8.5% in premarket trading, even after beating estimates on both the top and bottom lines for its latest quarter. Investors are focusing on weaker-than-expected subscriber growth numbers for the video streaming giant.
ASML (ASML) – ASML gained 3.9% in premarket action after it reported better-than-expected first-quarter profit, as the supplier of semiconductor manufacturing equipment benefits from the global surge in chip demand. ASML also raised its full-year outlook.
Moderna (MRNA) – The drugmaker’s shares gained 0.5% in premarket trading, after it struck a new Covid-19 vaccine supply deal with Israel for 2022. Israel also got an option to buy doses of vaccine designed to treat specific variants of the virus.
Norwegian Cruise Line (NCLH) – Norwegian shares rose 1.8% in the premarket after Goldman Sachs upgraded the cruise line operator to “buy” from “neutral.” Goldman cited several positive factors including Norwegian’s capacity growth and low leverage compared to its peers.
Verizon (VZ) – Verizon reported quarterly earnings of $1.31 per share, 2 cents a share above estimates. Revenue also beat analysts' forecasts. Verizon lost more wireless subscribers during the quarter than analysts had been anticipating.
Welbilt (WBT) – Welbilt shares surged 20% in the premarket after the maker of professional foodservice equipment agreed to be bought by rival Middleby(MIDD) in an all-stock transaction with an implied value of $4.3 billion.
Anthem (ANTM) – The health insurer earned $7.01 per share for its latest quarter, beating estimates by 50 cents a share. Revenue fell short of Wall Street projections. Anthem also raised its full-year outlook, amid growth in its various medical plans and higher pharmacy benefit management revenue. The stock rose 1.6% in premarket trading.
Nasdaq (NDAQ) – The stock exchange operator earned $1.96 per share for the first quarter, 23 cents a share above estimates. Revenue also came in above Street forecasts. Results were boosted by double-digit increases in equity and fixed income trading revenue. Nasdaq also announced a 10% dividend increase.
Halliburton (HAL) – Halliburton shares climbed 1.7% in premarket action after it beat estimates by 2 cents a share, with quarterly profit of 19 cents per share. Revenue was above estimates as well, with the oilfield services company saying its North American business continues to stage a healthy recovery.
Baker Hughes (BKR) – The oilfield services company’s stock fell 1.4% in premarket action after it reported quarterly earnings of 12 cents per share, a penny a share above estimates. Revenue was essentially in line with expectations. Profit tumbled 40% from a year ago, impacted by severe winter weather.
CSX (CSX) – CSX fell 2 cents a share short of estimates, with quarterly earnings of 93 cents per share. The rail operator’s revenue came in above forecasts. Pandemic-related disruptions and higher fuel costs ate into CSX’s bottom line. CSX slid 1% in premarket trading.
Intuitive Surgical (ISRG) – Intuitive Surgical earned $3.52 per share for its latest quarter, well above the $2.63 a share consensus estimate. The surgical device maker’s revenue also beat forecasts, with procedures using the company’s devices increasing as the Covid-19 pandemic eases. The stock gained 3.9% in premarket trading.
Tenet Healthcare (THC) – Tenet reported quarterly profit of $1.30 per share, compared to the 72 cents a share consensus estimate. The hospital operator’s revenue came in slightly above forecasts. Tenet said it was able to successfully deal with challenges related to both the pandemic and winter storms, and it also gave an upbeat outlook. Tenet added 2.7% in premarket trading.
Interactive Brokers (IBKR) – Interactive Brokers came in 7 cents a share above estimates, with quarterly earnings of 98 cents per share. Revenue was well above estimates on a 53% jump in trading commissions. The stock added 2.1% in premarket trading.
Edwards Lifesciences (EW) – Edwards shares gained 3.8% in the premarket after it beat estimates by 7 cents a share, with quarterly profit of 54 cents per share. Revenue was also above consensus forecasts and the medical device company also raised its full-year forecast on an anticipated increase in demand for heart-related procedures.
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