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Netflix Slides 8% After Weak Outlook Overshadows Strong Q1 Results

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...
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Kenanga Predicts Ringgit to Stay Weak Against US Dollar Into 2025

The ringgit is forecast to remain under pressure against the US dollar in the near term, driven by the Federal Reserve’s less dovish monetary stance, according to Kenanga Research.

Key Projections

  • Exchange Rate: The ringgit is expected to stay above 4.50 against the US dollar going into 2025.
  • Recent Performance: The ringgit, which had gained 15% against the dollar between January and September, has since retreated amid the strength of the US economy. It last traded at 4.5060, up 1.88% year-to-date.

Factors Influencing the Ringgit

  1. US Economic Strength: Strong domestic demand and inflationary pressures are propping up the dollar.
  2. Fed’s Monetary Policy: The Fed’s cautious approach to rate cuts bolsters the dollar’s appeal, with markets anticipating only one rate cut in 2025.
  3. Trump’s Policies: Uncertainty around policies under the incoming US administration may lead the Fed to delay cuts further.

Outlook for 2025

  • Kenanga projects two to three Fed rate cuts in 2025, which could provide relief for the ringgit in the latter half of the year.
  • In Malaysia, Bank Negara’s overnight policy rate is expected to remain steady at 3% through 2025.
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