By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, April 20th. Please refresh for updates.
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Netflix (NASDAQ:NFLX) stock slumped 27% after the streaming giant reported a loss of 200,000 subscribers in the first quarter, the first loss in subscribers in over a decade. It also forecast further losses in the second quarter.
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Fellow streaming companies Walt Disney (NYSE:DIS), Roku (NASDAQ:ROKU) and Warner Brothers Discovery (NASDAQ:WBD) dipped 5%, 6.8% and 4.1%, respectively, in a direct read across from the disappointing weak Netflix subscriber numbers.
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IBM (NYSE:IBM) stock rose 1.9% after the tech giant beat expectations in the first quarter, and expects to hit the top end of its revenue growth forecast for 2022 even with a $300 million hit to revenue from the suspension of its business in Russia.
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Lululemon (NASDAQ:LULU) stock rose 2.2% after the athletic apparel retailer announced plans to double its 2021 revenue in the next five years, helped by strong demand for workout clothes.
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Procter & Gamble (NYSE:PG) stock rose 1.6% after the consumer goods giant raised its full-year sales forecast as demand for cleaning and personal healthcare products remains resilient despite rising prices.
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Anthem (NYSE:ANTM) stock rose 3.3% after the health insurer raised its full-year profit forecast, helped by a strong performance from its Medicaid unit.
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Nasdaq (NASDAQ:NDAQ) stock rose 0.1% after beating estimates for first-quarter profit, driven by healthy demand for its investment-related products that offset a lull in initial public offerings.
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Baker Hughes (NASDAQ:BKR) stock fell 2.6% after reporting lower than expected first-quarter earnings and said the rest of the year will be impacted by “broad-based inflation and supply pressures.”
- ASML (NASDAQ:ASML) ADRs rose 5.9% after the Dutch-based lithographer reported a strong quarter, announcing plans to increase production capacity for its high-end chipmaking equipment.