No records today

The major US indices are closing lower as concerns about the coronavirus worried investors.

  • The S&P index closed down -8.83 points or -0.27% at 33 to 0.79
  • NASDAQ index fell -18.135 points or -0.19% at 9370.80. The high reached 9397.578 (new all-time intraday high. The low reached 9350.20
  • Dow fell -152.06 points or -0.52% at 29196.04. The high reached 29341.21. The low extended to 29146.47

After the close Netflix reported earnings

  • revenues 5.47 billion versus 5.45 billion estimate
  • global net adds 8.76 million versus 7.6 million estimate
  • +550 K subscribers in US and Canada
  • earnings-per-share $1.30 versus $0.52 expected
  • sees first-quarter streaming paid net change of +7.00 million versus 7.82 million estimate
  • sees first-quarter EPS of $1.66 versus $1.16 estimate

Netflix stock is currently trading down $5.37 or -1.59% at $332.74 and after hours trading despite the beat. The subscriber numbers estimate for the 1st quarter is hurting the market even though this quarters global net adds surpassed the estimates by 1.1 million.

Meanwhile IBM reported:

  • earnings of $4.71 versus estimates of $4.69
  • revenues $21.8 billion versus $21.6 billion estimate
  • IBM is currently trading up $6.69 in after-hours trading