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...
KUALA LUMPUR (Sept 28): The FBM KLCI dropped 6.18 points or 0.4% mainly on late selling of index-constituent Genting Bhd shares. Malaysian equities have seen foreign selling on US interest rate hike and tax cut cues.
At 5pm, the KLCI ended at 1,758.06 points while Genting shares fell three sen to RM9.48. In currency markets, the ringgit weakened to 4.2310 versus the US dollar at 5:22pm.
“It (Malaysian shares) was down since last week on foreign selling factor. Investors’ sentiment will definitely get affected from this.
"At the moment, the US dollar is strengthening against the ringgit,"
Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com.
Reuters reported that the dollar and US bond yields rose on Thursday after President Donald Trump proposed the biggest US tax overhaul in three decades and as strong US economic data supported the case for a Federal Reserve rate hike later this year.
Trump offered to lower corporate income tax rates, cut taxes for small businesses and reduce the top income tax rate for individuals. The dollar's strength pressured many emerging market currencies and bonds, helping drag down MSCI's broadest index of Asia-Pacific shares outside Japan 0.4 percent to one-month lows. South Korean 10-year yields hit a 2-year high.
Across Bursa Malaysia, there were 473 decliners versus 316 advancers. A total of 2.31 billion shares worth RM2.19 billion were traded.
Tiger Synergy Bhd was the most active stock with some 139 million shares transacted. Tiger Synergy shares closed unchanged at six sen.
Source: The Edge
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