Just before the end of Tuesday, Netflix (NFLX) reported unexpectedly high revenue and gained 4.4 million subscribers in the third quarter. The company helps attract new subscribers by citing high-performance content, including the popular Korean TV show Squid Game. Netflix rebounded 1.5% on the news.
Robotic surgery company Intuitive Surgical (ISRG) is also putting pressure to announce financial results just before financial results. The company outperformed sales and revenue, which resulted in a 1.1% rebound, according to the report.
Wednesday’s tentative market kicked off with Verizon (VZ), which beat its earnings forecasts but fell short. The company has also strengthened itself. However, inventories do not change significantly in market transactions.
On the plus side, medical device company Abbot Labs (ABT) traded 2.7% higher in pre-trading hours after reporting significant gains from increased sales. To complement the positive earnings announcement, the company raised its earnings forecast for the full year. In the healthcare sector, the Biogen biotechnology strain (BIIB) has also made significant gains thanks to a new drug against Alzheimer’s. Biogen is also working with Sage Therapeutics (SAGE) to bring an experimental sedative drug to the FDA by the end of 2022.
Not all health items have good morning. Novavax (NVAX) lost 22% in transactions in Politico’s article on combating vaccine production, which met regulatory quality standards. This issue is expected to slow down the company and prevent it from reaching its primary delivery destination.
Another negative issue is that the company has problems with cost management. Chile’s parent companies Brinker International (EAT), WD-40 (WDFC) and United Airlines (UAL) all reported quarterly earnings and said they were suffering from rising costs, particularly labor costs. The report appears to be inconsistent with the Fed’s initial inflation forecast.
Oil services firm Baker Hughes (BKR) was in the top and bottom positions, although rival Halliburton (HAL) met analyst expectations and forecast a “multi-year growth cycle”. I missed the review. Despite rising oil prices, many oil companies are more focused on existing wells than drilling new ones.
Many other announcements are made on busy days to make a profit. However, companies like Tesla (TSLA), CSX (CSX), and Las Vegas Sands (LVS) will post after closing time and might attract attention.
Looking beyond income, China’s National Bureau of Statistics (NBS) reported that China’s urban housing index slowed from 70 for the first time since COVID-19. According to Reuters, only 27 cities reported monthly growth. Another Chinese developer also reported liquidity problems.