An image of a woman starting Netflix on a TV inside her apartment.
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Check out the companies that own the noon trade.
Netflix: The shares of the broadcast giant fell more than 6% after the company reported the loss of subscribers as rising demand for the pandemic began to fade. Netflix added 3.98 million net paid subscribers worldwide, compared to the expected 6.2 million, according to FactSet. The company also said it only expects to add about a million subscribers in the current quarter, well below estimates.
Norwegian Cruise Line: The cruise line operator saw its shares appear around 7% after Goldman Sachs updated the shares to buy from neutral. The Wall Street firm said its business combination and balance sheet put the company in a strong position relative to other major cruise players.
Intuitive Surgery: Medical device inventories rose more than 8% after a stronger-than-expected first-quarter report. Intuitive Surgical reported earnings of $ 3.52 per share with revenue of $ 1.292 billion. Analysts surveyed by Refinitiv had written $ 2.63 per share and $ 1.1 billion in revenue. Procedures with the company’s da Vinci surgical systems increased 16% year-over-year.
CSX – Freight rail company CSX rose nearly 5% despite analysts ’profit expectations slightly missing. CSX earned 93 cents per share, compared to the expected 95 cents per share on Wall Street, according to Refinitiv. Revenue stood at $ 2.881 billion, above estimates of $ 2.788 billion.
Interactive brokers: e-broker shares appeared around 1% after surpassing the top and bottom lines of their quarterly profits. Interactive Brokers reported earnings per share of $ 983 million in earnings per share, while analysts expected earnings per share of 91 cents in revenue of $ 737 million, according to Refinitiv. Customer accounts rose 74% from the previous year’s quarter to 1.33 million, the broker said.
Tenet Healthcare: Hospital company shares jumped more than 3% on Wednesday after first-quarter results exceeded expectations, driven by a jump in outpatient care income. Tenet reported $ 1.30 in adjusted earnings per share with revenue of $ 4.788 billion. Analysts polled by Refinitiv expected 72% per share and revenue of $ 4.777 billion.
United Airlines: Airlines shares rebounded 1.8% after falling 8.5% on Tuesday. The initial loss came after the company reported its fifth consecutive quarterly loss and said business and international travel is still far from recovering. Deutsche Bank added a short-term buyout of the airline’s shares and said it saw an “attractive” risk / reward.
Mattel – The toy company’s shares advanced 1.3% after Berenberg upgraded the shares to a purchase rating based on projected revenue growth. “After several quarters of being too cautious and with a better understanding of the ways Mattel can sustainably grow its key franchises, we are now believers,” the firm said in a note to customers. Berenberg expects the shares to reach $ 25, 22% above what the shares closed on Tuesday.
Welbilt: Welbilt shares rose nearly 40% after professional food service equipment maker agreed to be bought by rival Middleby in a securities transaction with an implicit value of $ 4.3 billion.
MetLife – Insurance company shares advanced 2% after UBS started coverage of the company with a purchase rating. The firm said MetLife’s “divestment and deployment strategy” “allows for a continuous reduction in profit volatility and business complexity.” The company has a target of $ 72 in shares, which is about 18% above the shares closed on Tuesday.
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– with reports from Yun Li, Jesse Pound and Pippa Stevens of CNBC.