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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Netflix, Inc.    NFLX

NETFLIX, INC.

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Global equities decline on COVID lockdown fears

10/19/2020 | 08:02pm EST
The front facade  of the of the NYSE is seen in New York

NEW YORK (Reuters) - Global equities declined on Monday as record daily coronavirus infections in Europe sparked fears of more severe lockdown restrictions while U.S. investors stayed on the sidelines ahead of corporate earnings season.

U.S. stocks fell on the 33rd anniversary of the 1987 "Black Monday" crash, when the Dow Jones Industrial Average lost 22.6% in one day, equivalent to a drop of about 6,500 points in the index today.

Investors were waiting to see how large companies due to report later in the week, such as Netflix Inc and Tesla Inc, fared in the latest quarter before committing funds, said Dennis Dick, a trader at Bright Trading LLC.

"I think markets are going to lack direction for a couple of days until we get some clarity for how these earnings are going to look," he said.

Investors are also waiting to see whether the final debate between U.S. President Donald Trump and his Democratic challenger Joe Biden on Oct. 22 will shift the trajectory of the election.

Even news of potential progress towards a COVID-19 vaccine was only having a muted impact. Drugmaker Pfizer Inc said on Friday it could have a coronavirus vaccine ready in the United States by the end of this year.

"The market is becoming numb to it to a certain extent because we're getting vaccine headlines every other day," said Dick.

The Dow Jones Industrial Average settled down 410.89 points, or 1.44%, at 28,195.42, the S&P 500 settled down 56.89 points, or 1.63%, at 3,426.92. The Nasdaq Composite settled down 192.67 points, or 1.65%, at 11,478.88.

The dollar edged lower as investors revived bets that an agreement in Washington on a fiscal stimulus package could be reached ahead of the Nov. 3 U.S. election.

The move out of the safe-haven greenback came after House Speaker Nancy Pelosi said that, while differences remained with the Trump administration on a wide-ranging coronavirus relief package, she believed legislation could be pushed through before Election Day.

With investors' risk appetite rising, the dollar index <=USD> was down 0.41%, giving back some of its 0.7% rise from last week when a global surge in coronavirus cases and an impasse over the stimulus package stoked caution.

Gold rose as the dollar retreated and expectations for a stimulus deal bolstered bullion's appeal as an inflation hedge. Oil futures fell on Libya's plan to boost output.

European shares closed lower as surging COVID-19 cases raised concerns. Parts of the UK were put into lockdown and France imposed curfews.

The pan-European STOXX 600 index .STOXX closed down 0.3%.

Trading volumes in Europe were sharply lower due to a technical glitch at exchange operator Euronext, which led to trading activity being halted in the Amsterdam, Brussels, Lisbon and Paris bourses.

In Asia, investors took comfort from China's third-quarter economic recovery as consumers shook off their coronavirus caution.

MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> rose 0.5% for a second straight day of gains, paring back following third-quarter gross domestic product data from China.

In currency markets, sterling rose after the European Union said it was ready to intensify talks towards a deal on future trade ties with Britain. Sterling rallied back to near $1.30 levels against the dollar on Monday, up 0.5% at $1.2980 while the euro meanwhile traded 0.3% higher at $1.1756.

The Chinese yuan reached a fresh 1-1/2-year high against the dollar, while the dollar <=USD> slipped 0.4% to 93.295 against a basket of six major currencies. [USD/]

Spot gold rose 0.4% to $1,906.36 per ounce. U.S. gold futures settled up 0.3% at $1,911.70.

Brent crude futures settled down 0.7% at $42.62 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures settled 0.1% lower at $40.83 per barrel.

(Additional reporting by Swati Pandey in Sydney and Thyagaraju Adinarayan in London; Editing by Chizu Nomiyama, Nick Zieminski and Richard Chang)

By Matt Scuffham


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.63% 29823.92 Delayed Quote.3.86%
EURO / US DOLLAR (EUR/USD) 0.11% 1.20815 Delayed Quote.7.65%
GOLD -0.06% 1810.284 Delayed Quote.17.24%
LONDON BRENT OIL -0.55% 47 Delayed Quote.-27.86%
NASDAQ 100 1.52% 12455.326441 Delayed Quote.40.48%
NASDAQ COMP. 1.28% 12355.105992 Delayed Quote.36.03%
NETFLIX, INC. 2.83% 504.58 Delayed Quote.55.94%
PFIZER, INC. 2.87% 39.41 Delayed Quote.3.21%
S&P 500 1.13% 3662.45 Delayed Quote.13.36%
STOXX EUROPE 600 0.65% 391.9 Delayed Quote.-6.37%
TESLA, INC. 3.02% 584.76 Delayed Quote.598.92%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.10% 6.5426 Delayed Quote.-5.47%
WTI -0.14% 44.105 Delayed Quote.-26.43%
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Financials (USD)
Sales 2020 24 938 M - -
Net income 2020 2 856 M - -
Net Debt 2020 8 545 M - -
P/E ratio 2020 80,6x
Yield 2020 -
Capitalization 223 B 223 B -
EV / Sales 2020 9,28x
EV / Sales 2021 7,88x
Nbr of Employees 8 600
Free-Float 98,4%
Chart NETFLIX, INC.
Duration : Period :
Netflix, Inc. Technical Analysis Chart | NFLX | US64110L1061 | MarketScreener
Technical analysis trends NETFLIX, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 545,79 $
Last Close Price 504,58 $
Spread / Highest target 38,7%
Spread / Average Target 8,17%
Spread / Lowest Target -60,4%
EPS Revisions
Managers
NameTitle
Wilmot Reed Hastings Chairman, President & Co-Chief Executive Officer
Theodore A. Sarandos Co-CEO, Director & Chief Content Officer
Gregory K. Peters Chief Operating & Product Officer
Spencer Adam Neumann Chief Financial Officer
Adriane C. McFetridge Engineering Director
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