Market Movers: Netflix Soars, Forward Air Spikes, and Stripe Eyes Acquisition
Streaming Giant Netflix Continues to Impress
Netflix (NFLX) is on a roll, with its stock surging 5% in premarket trading after the company blew past expectations with its third-quarter earnings report. Revenue growth reached an impressive 15% year-over-year, with operating margin jumping to 30% from 22% last year. The company’s user growth also continues to thrive, with 5.07 million new global paid net members added, bringing the total to 282.72 million.
The Rise of Ad-Supported Plans
Netflix’s ad-supported plan has proven to be a game-changer, accounting for over 50% of sign-ups in its ads countries and experiencing 35% quarter-over-quarter growth. The company is working to refine its plans and pricing to further boost monetization.
Forward Air Soars on Sale Speculation
Forward Air (FWRD) saw its stock close 6% higher on Thursday and rise another 1% in premarket action after reports emerged of a formal sales process. The company has retained two investment banks to explore strategic alternatives, following pressure from activist investors Alta Fox and Ancora Holdings.
Stripe Eyes $1 Billion Acquisition
Infrastructure payments company Stripe (STRIP) is in talks to acquire crypto stablecoin infrastructure startup Bridge for a whopping $1 billion. While the deal is not yet finalized, it could be the largest acquisition for Stripe to date.
Market Watch: Stocks, Oil, and Bitcoin
Ahead of the opening bell, Dow, S&P, and Nasdaq futures are all in the green. Crude oil is up 0.2% at $70/barrel, while Bitcoin has risen 1% to $67,000. In global markets, the FTSE 100 is down 0.2%, while the DAX is up 0.2%.
Economic Calendar Highlights
Today’s economic calendar features key speeches from Federal Reserve officials, including Minneapolis Federal Reserve Bank President Neel Kashkari and Federal Reserve Board Governor Christopher Waller.
Leave a Reply