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NFLX

Netflix, Inc. (NASDAQ:NFLX) shares dropped after its Q1 earnings release, despite beating estimates on earnings, revenue, and subscriber numbers. The company warned of a potential sequential subscriber decline in Q2 and issued below-consensus revenue guidance. Netflix also announced it would stop providing quarterly paid membership numbers starting in 2025/Q1, raising concerns about transparency in paid membership growth. Analysts highlighted Netflix's solid business performance but questioned its growth potential as a 'true tech company', citing the temporary nature of password sharing crackdown benefits and a cautious approach to AI and live sports.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 8:44 am

RIVN

TSLA

Rivian Automotive Inc. is set to open a new dealership in Austin, Texas, on May 24, located approximately 14 miles from Tesla's gigafactory. This dealership is part of Rivian's expansion, with existing dealerships across several states. The Austin space will feature a 10,000-square-foot area with a rooftop patio and access to Lady Bird Lake's trail. Rivian's move into Texas, Tesla's home state, signifies its aim to compete directly with Tesla in the electric SUV and pickup truck market. Despite financial challenges, Rivian is working towards achieving gross margin profitability by the end of 2024.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 7:11 am

BRSH

Brüush Oral Care has received an additional delisting threat from Nasdaq due to non-compliance with Audit Committee Requirements following a board member's resignation. A hearing is scheduled for April 25, 2024, to address this and other deficiencies.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 6:51 am

AAPL

NVDA

TSLA

Jim Cramer and Tom Lee caution against buying the dip in the stock market, citing ongoing downward trends and increased volatility. Cramer highlights unpredictable patterns in companies like Apple, Tesla, and NVIDIA, suggesting the market hasn't bottomed out. Lee points to potential selling pressure but remains optimistic about future buying opportunities, citing factors like corporate earnings growth and possible Fed rate cuts. Despite recent downturns, some believe in the persistence of a bull market driven by a strong U.S. economy and AI advancements.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:47 am

NFLX

Netflix Inc. (NASDAQ:NFLX) announced it will stop disclosing quarterly subscriber counts starting Q1 2025, aiming to focus on key business metrics. This decision comes after Netflix reported a significant subscriber growth of 9.3 million in Q1, surpassing expectations with a total of 269.6 million subscribers worldwide. The move has led to a decrease in Netflix's stock price, as analysts express concerns over the potential impact on investor confidence and the ability to model the company's future performance.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:47 am

ARKB

ARKK

ARKZ

TSLA

Cathie Wood's Ark Investment Management increased its Tesla holdings by purchasing $13M worth of shares amid a price decline, and expanded its crypto exposure by investing in Bitcoin and Ethereum ETFs. Ark bought Tesla shares across three ETFs and added to its crypto ETF holdings, despite Tesla's stock pressure due to anticipated disappointing earnings and other concerns. Ark also reduced exposure to crypto-related stocks like Coinbase and Robinhood, focusing instead on crypto ETFs, with significant investments in ARKB and ARKZ, reflecting confidence in Bitcoin and Ethereum's growth.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 6:20 am

BTCUSD

Changpeng Zhao, the former CEO of Binance, clarified that Bitcoin halving is not similar to a stock split, highlighting the unique dynamics of cryptocurrency. He shared insights on the post-event dynamics of Bitcoin halving, noting that while the price doesn't skyrocket immediately after the event, it often reaches all-time highs in the following year. The upcoming Bitcoin halving, scheduled for around April 20, 2024, will reduce miner rewards from 6.25 BTC to 3.125 BTC, impacting the economics of mining and potentially the future price and ecosystem of Bitcoin.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:19 am

AXP

ISRG

NFLX

PG

SLB

U.S. stock futures traded lower with focus on earnings reports from Procter & Gamble, Intuitive Surgical, American Express, Netflix, and Schlumberger. Procter & Gamble is expected to report earnings of $1.41 per share. Intuitive Surgical reported better-than-expected Q1 results. American Express is anticipated to post earnings of $2.95 per share. Netflix reported strong earnings and subscriber growth. Schlumberger is expected to report earnings of 75 cents per share.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 6:17 am

AXP

American Express Company (NYSE:AXP) is set to release its Q1 earnings on April 19, 2024, with analysts forecasting a rise in earnings per share to $2.95 from $2.19 and revenue to $15.79 billion from $13.05 billion year-over-year. The company's shares slightly fell by 0.1% to $217.50 recently. Analysts from HSBC, Wells Fargo, UBS, BMO Capital, and Baird have updated their ratings and price targets for AXP, reflecting a mix of optimism and caution ahead of the earnings release.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 6:11 am

AAPL

META

Apple Inc. has removed Meta Platforms' apps, WhatsApp and Threads, from its China App Store following a Chinese government directive citing national security concerns. This action aligns with China's new regulation requiring app registration with the government. Apple's compliance with Chinese laws continues amidst U.S.-China tensions, while Meta faces challenges in China partly due to CEO Mark Zuckerberg's image. Apple's stock closed slightly lower, while Meta's stock saw an increase.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:03 am