Netflix soars past subscriber estimates but stock plunges amid growth concerns
Netflix (NASDAQ: NFLX) delivered impressive new subscriber numbers in the first quarter, surpassing expectations by adding 9.33 million users. However, the stock still slumped as investors worried about future growth. The streaming giant also announced it would stop reporting quarterly membership numbers and average revenue per membership starting next year, which caught investors off guard and raised concerns about the end of years of strong customer gains. Additionally, Netflix's revenue projection for the current quarter fell short of expectations, further dampening investor sentiment.
Title: Middle East tensions rise, weighing on risk appetite Content: U.S. stock futures declined as tensions between Israel and Iran escalated, leading to risk-averse investing. The potential for a broader Middle East conflict negatively affected market sentiment amid rising concerns about Fed interest rate hikes. Despite mixed performance among indices on Thursday, the Dow Jones Industrial Average rose, while the S&P 500 and Nasdaq Composite Index fell for the fifth consecutive day. The focus is on corporate earnings reports, with notable releases from Procter & Gamble, Schlumberger, and American Express.
Title: Bitcoin volatility ahead of 'halving' event Content: Bitcoin traded volatilely Friday, climbing 3% to $64.950 after dropping below the key $60,000 support level earlier. The focus is on the upcoming "halving" event, where the reward for mining Bitcoin will be cut in half, expected to reduce the rate at which new Bitcoin is generated. Previous halving events in 2012, 2016, and 2020 led to significant price rallies, and traders are optimistic that this time will be no different.
Title: Pressure mounts on Goldman Sachs to separate CEO, board chair roles Content: Pressure is increasing on Goldman Sachs to separate the roles of CEO and board chair, currently held by David Solomon. Norway's sovereign wealth fund, one of the world's largest investors, has announced plans to vote in favor of a resolution calling for the split of roles at Goldman's annual meeting on April 24. Proxy advisors Institutional Shareholder Services and Glass Lewis have also recommended backing the shareholder resolution. Norges Bank Investment Management, which operates the Norwegian fund, is the 12th-biggest investor in Goldman Sachs, holding a 0.84% stake worth approximately $1.09 billion.
Title: Oil prices surge on Israeli strikes in Iran, then settle Content: Crude prices experienced volatile trading Friday, initially spiking on Israeli strikes in Iran. However, the market then settled back after reassessing the situation and concluding that the attacks were relatively limited. Investors are concerned about potential supply disruptions due to the escalation of tensions in the Middle East, with the focus shifting to upcoming U.S. economic data and Fed interest rate expectations. Meanwhile, China's economic data showed continued frail domestic demand, despite strong Q1 growth.