Earnings on Netflix, Tesla, Facebook & IBM
Netflix (NASDAQ:NFLX) earnings disappoint as Squid Game fails to translate immediately into a revenue bump.
Tesla (NASDAQ:TSLA) and IBM (NYSE:IBM) report after the bell, while NextEra Energy (NYSE:NEE), and Verizon (NYSE:VZ) head a full early slate of earnings.
- Netflix stock traded down in Wednesday’s premarket after becoming the first megacap to report earnings for the third quarter. The streaming giant beat forecasts for new subscribers, adding 4.4 million rather than the 3.5 million expected.
- Even though we can’t get to see a big revenue thanks to the success of squid games, it is advisable to take a long position, but it would be convenient to wait for the market to open because there is a bearish trend in the pre market.
- Facebook (NASDAQ:FB) will reportedly change its name in an effort to make itself more associated with the ‘metaverse’ it hopes to build. The move is an implicit recognition of the damage to its brand from endless disclosures about psychological damage done by its social media networks. Reports suggest that political disfavor with the company is already generating resistance to plans for its wallet service, Novi.
- Facebook despite being the giant of social networks has been suffering several falls and is expected to see a recovery with this change.
- Tesla and IBM don’t have a clear trend
- Tesla and IBM have been flat in the pre market since they closed yesterday’s rally, because we cannot notice a clear trend, it would be convenient to wait for the market to open in order to better visualize a trend.