Paramount Global, American Express, Netflix, and More
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Key Takeaways
U.S. equities were mixed at midday Friday, April 19, 2024 as the markets reacted to more corporate earnings.
Netflix shares tumbled after the streaming giant gave a weaker-than-expected outlook and announced it would no longer report quarterly subscriber data.
Paramount Global shares jumped amid reports Sony may be joining Apollo Global Management to make an offer to buy the entertainment company.
U.S. equities were mixed at midday Friday as the markets reacted to more corporate earnings. The Dow was higher, while the S&P 500 and Nasdaq fell.
Netflix (
NFLX
) shares declined as the streaming giant gave
weaker-than-expected guidance
and said it would no longer report quarterly subscriber numbers.
Shares of Super Micro Computer (
SMCI
) sank after the provider of server and computer infrastructure for
artificial intelligence (AI)
said it wasn’t going to preannounce financial results for the March quarter.
Jabil (
JBL
) shares tumbled after the electronics manufacturer announced that CEO Kenneth Wilson was put on paid leave while an investigation is underway over a potential violation of company policies.
Paramount Global (
PARA
) shares advanced following reports Sony (
SONY
) is in talks with
private equity
firm Apollo Global Management to
make a joint bid
for the entertainment giant.
Shares of American Express (
AXP
) gained after the credit card company’s first-quarter revenue and profit came in
above analyst expectations
, and it affirmed full-year growth guidance for 2024.
Kinder Morgan (
KMI
) shares climbed as the pipeline and terminal operator projected a big jump in demand for natural gas over the rest of the decade.
Oil futures were little changed after spiking earlier following what appeared to be a limited retaliatory strike against Iran by Israel. Still, concerns about a potential expansion of the conflict in the Middle East sent gold prices higher. The yield on the 10-year Treasury note slipped. The U.S. dollar gained versus the pound, but lost ground to the euro and yen. Most major cryptocurrencies traded in the green.
