Netflix shares fell more than 8% in after-hours trading , as a disappointing second-quarter outlook and leadership changes outweighed otherwise solid first-quarter results. Weak Guidance Sparks Sell-Off Netflix forecast Q2 earnings of US$0.78 per share , below analyst expectations of US$0.84 , while revenue is projected at US$12.57 billion , missing the US$12.64 billion consensus . The weaker guidance raised concerns over near-term growth momentum , triggering a sharp negative market reaction. Strong Q1 Performance Fails to Impress For the first quarter: Revenue rose 16% YoY to US$12.25 billion (above estimates) Earnings surged 86% to US$1.23 per share However, earnings were boosted by a US$2.8 billion one-off termination fee , reducing the quality of underlying growth. Operating margin improved to 32.3% , but still came in below expectations (32.4%) , further dampening sentiment. Rising Costs and Strategic Sh...
Just this morning, Malaysians were greeted with a good news,
the oil rally of 6% and it already feels like it’s gonna be a good day for the
market.
 |
| FBM KLCI closed marginally higher while Asian stocks dropped |
Well, it did, at least for a start but as at 5pm, FBM KLCI
closed at 1,677.28 points on profit taking after reaching an intraday high at
1,685.88.
In the Asia region, Japan's Nikkei 225 fell 0.37%, South Korea's
Kospi dropped 0.11%, while Hong Kong's Hang Seng down to 0.25%.
The oil rally on Monday that had boosted global equity
markets made a U-turn. US front-month West Texas Intermediate (WTI) crude
futures were trading at US$32.72 per barrel at 0753 GMT, down 67 US cents from
Monday's settlement.
International benchmark Brent was also down 61 US cents at
US$34.08 a barrel.
On Monday, we have seen oil prices jumped to as much as 7%
as there are speculations over the falling US shale output fed the notion that
crude prices may be bottoming after their 20-month collapse.
In Europe, Euro and sterling were hit by uncertainty over Britain's membership of the European Union.
The top gainer was Panasonic Manufacturing Malaysia Bhd while the leading decliners included Nestle (M) Bhd and Cycle & Carriage Bintang Bhd. The most active stock was APFT Bhd.
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