Check out the companies making headlines in midday trading.
Netflix – Netflix shares rose 6.3% after the company’s earnings per share fell short of analysts’ expectations. Still, the latest quarterly results showed that the streaming service added millions more subscribers in the quarter than Wall Street was expecting. The company also announced that co-CEO Reed Hastings would step down from his role.
north current – Nordstrom shares fell 6.5% after the company cut its annual earnings guidance for its fiscal year following weak holiday sales. The retailer reported that net sales fell 3.5% during the holiday season and that it now expects annual sales growth at the lower end of the previously stated 5% to 7% range.
Retail Stocks – Other retailers slumped after Nordstrom’s weak holiday earnings report and year-end guidance. Macy’s, cabbage and Dillard’s fell by 2.5%, 4% and 1.3% respectively.
Costco – Costco shares rose 1.2% after the company announced its board of directors reapproved a share buyback program of up to $4 billion by January 2027.
https://www.cnbc.com/2023/01/19/stocks-making-the-biggest-moves-after-hours-netflix-nordstrom-and-more.html Stocks making the biggest after-hours moves: Netflix, Nordstrom, and more