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By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) - Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower. Netflix Inc (NASDAQ:NFLX) plunged 22.7% after the streaming giant fell short of market forecast for new subscribers at the end of last year and offered a downbeat outlook for early 2022. Shares of technology and media companies including Walt Disney (NYSE: DIS) Co, ViacomCBS (NASDAQ:VIAC) and Roku (NASDAQ: ROKU) that have invested heavily in streaming also fell between 4.3% and 5.0%. Seven of the 11 major S&P 500 sectors fell, with communication services down 1.7% at an eight-month low. Analysts on Thursday raised doubts about business prospects of pandemic market favorites including Netflix and Peloton Interactive (NASDAQ: PTON). However, shares of Peloton recovered somewhat from the previous day's fall, gaining 4.2% after its chief executive denied a report that the exercise bike maker was halting some production and raised second-quarter revenue forecast. "The pandemic winners are under pressure and that will likely continue. If everybody already has Netflix, it's hard to improve subscriber growth," said John Lynch, chief investment officer for Comerica (NYSE:CMA) Wealth Management in Charlotte, North Carolina. "Perhaps investors' expectations were a little stretched." Other megacap growth companies such as Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL) are scheduled to report earnings next week. Wall Street's main indexes tracked at least their third straight weekly declines, with the Nasdaq Composite set for its worst week since March 2020. The Nasdaq on Wednesday closed more than 10% below its all-time high hit in November, confirming it was in correction territory. The tech-heavy index has particularly come under pressure after rising Treasury yields and expectations of a more aggressive Federal Reserve in controlling inflation hit growth shares. The central bank's policy meeting next week will offer more clarity on its fight against surging inflation, after data earlier this month showed consumer prices rising to its highest level in four decades in December. "Maybe by the middle of next week if we get some clarity from (Fed Chair Jerome) Powell, some of that pressure on stocks can subside as investors get more comfortable" Lynch added. At 9:49 a.m. ET, the Dow Jones Industrial Average was down 17.77 points, or 0.05%, at 34,697.62, the S&P 500 was down 21.93 points, or 0.49%, at 4,460.80 and the Nasdaq Composite was down 114.42 points, or 0.81%, at 14,039.60. Single stock options totaling about $1.28 trillion were set to expire on Friday, potentially driving sharp market movements and impacting stocks that have very large call positions like Apple, Microsoft, Tesla, Amazon (NASDAQ:AMZN), Meta Platforms and Google-parent Alphabet (NASDAQ:GOOGL). Bitcoin fell sharply on Friday, as investors moved away from riskier assets and after Russia proposed a ban on the use and mining of cryptocurrencies, dragging down crypto-linked stocks such as miner Hut 8 Mining Corp and crypto exchange Coinbase (NASDAQ:COIN) Global more than 10%. Declining issues outnumbered advancers for a 2.44-to-1 ratio on the NYSE and for a 2.61-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and 17 new lows, while the Nasdaq recorded four new highs and 624 new lows.
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By Lisa Richwine LOS ANGELES (Reuters) -Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20% and wiping away most of its remaining pandemic-fueled gains from 2020. The world's largest streaming service projected it would add 2.5 million customers from January through March, less than half of the 5.9 million analysts had forecast, according to Refinitiv IBES data. Netflix (NASDAQ:NFLX) tempered its growth expectations, citing the late arrival of anticipated content, such as the second season of "Bridgerton" and the Ryan Reynolds time-travel movie "The Adam Project." Shares of Netflix plummeted nearly 20% to $408.13 in after-hours trading. Competitor Walt Disney (NYSE:DIS) Co, which has staked its future on building a strong streaming business, saw its shares sink 4%. Streaming device Roku (NASDAQ:ROKU) Inc fell 5%. Nasdaq futures dropped almost 1%, showing traders expect the tech-heavy index to open lower on Friday. Netflix added 8.3 million customers from October to December, when it released a heavy lineup of new programming including the star-studded movies "Red Notice" and "Don't Look Up" and a new season of "The Witcher." Industry analysts had projected 8.4 million. The company's global subscriber total at the end of 2021 reached 221.8 million. In a letter to shareholders, Netflix said it believed the ongoing COVID-19 pandemic and economic hardships in several parts of the world like Latin America may have kept subscriber growth from rebounding to levels seen before the pandemic. COVID "created a lot of bumpiness" that made it hard to project subscriber numbers, "but all the fundamentals of the business are pretty solid," Co-Chief Executive Ted Sarandos said in a post-earnings video interview. The company posted adjusted earnings per share of $1.33, crushing analyst consensus estimates of 82 cents. Revenue hit $7.71 billion, in line with estimates. Netflix last week raised prices in its biggest market https://www.reuters.com/technology/exclusive-netflix-raises-monthly-subscription-prices-us-canada-2022-01-14, the United States and Canada, where analysts say growth is stagnating, and is now looking for growth overseas. The company rode a roller coaster during the pandemic, with steep growth early in 2020 when people were staying home and movie theaters were closed, followed by a slowdown in 2021. Netflix picked up more than 36 million customers in 2020, and 18.2 million in 2021. Netflix's subscriber growth in 2022 had been expected to stabilize and return to the pace logged before the pandemic, when it added 27.9 million subscribers in 2019, analysts say. The company's upcoming slate includes new installments of "Ozark" and "Stranger Things" and a three-part Kanye West documentary. "The pandemic lockdowns pulled forward tons of demand and it is taking longer than expected to normalize," said Pivotal Research analyst Jeff Wlodarczak. Competitors including Disney and AT&T Inc (NYSE:T)'s HBO Max, are pouring billions into creating new programming to grab a share of the streaming market. Netflix said competition "may be affecting our marginal growth some," but added that it was still growing in every country where new streaming options have launched. "Even in a world of uncertainty and increasing competition, we’re optimistic about our long-term growth prospects as streaming supplants linear entertainment around the world," Netflix said in its shareholder letter. In their video interview, executives sought to reassure investors that Netflix's long-term prospects were bright. Sarandos said the service had not seen a decline in customer engagement or retention and he projected the switch to streaming from traditional television would continue to open opportunities worldwide. The stock remained down nearly 20%. "The pace of the migration may be a little hard to call from time to time when there are kind of very global events or even local conditions," Sarandos said, "But it's absolutely happening. There's no question of that." The company is looking for new ways to attract customers including with mobile video games. Netflix said it released 10 games in 2021, was pleased with the early reception and would expand its gaming portfolio in 2022.
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I have never but it won't help anything > @Navneet said: @Benlax look Roku its following nflx
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@Benlax look Roku its following nflx
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DIS and ROKU following it down
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roku direkt in sippenhaft mit runter
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Roku back at that sept 2020 highs
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yes I do still own ROKU equity > @Navneet said: u got equity in roku dros ?
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u got equity in roku dros ?
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ROKU now making new 52 week low's
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Good morning. Stock futures are relatively flat with techs still showing weakness continuing yesterdays sentiment. $ROKU under pressure after analyst initiates with underperform rating and $136 target. $BA flirting with $215 target level. Crude still flip flopping at $77 level on /CL.
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saw some people trying to say it was the start of liquidation > @Pal said: TSLA, COIN, ROKU, TWTR, TDOC Cathie Wood's ARK Investment sold 56.3K shares of Tesla on Monday Among the sales, ARK Investment also sold 46.5K shares of CoinBase (COIN), 54.0K shares of Roku (ROKU), 184.9K shares of Twitter (TWTR), and 121.1K shares of Teladoc (TDOC), stating: "All transaction activity today was for purposes of raising cash for the 2021 annual ETF distribution. This cash raise activity has been completed."
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TSLA, COIN, ROKU, TWTR, TDOC Cathie Wood's ARK Investment sold 56.3K shares of Tesla on Monday Among the sales, ARK Investment also sold 46.5K shares of CoinBase (COIN), 54.0K shares of Roku (ROKU), 184.9K shares of Twitter (TWTR), and 121.1K shares of Teladoc (TDOC), stating: "All transaction activity today was for purposes of raising cash for the 2021 annual ETF distribution. This cash raise activity has been completed."
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ROKU two days ago 190 today 236 jezzz
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htf is roku up lol
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Largest stocks that hit new 52 Week Lows at some point today AT&T $T Medtronic $MDT HDFC $HDB Block (Square) $SQ Snapchat $SNAP Zoom $ZM $NIO Carvana $CVNA Match $MTCH $BBDO Barrick $GOLD BeiGene $BGNE $ROKU Zimmer $ZBH Southwest $LUV Pinterest $PINS Credit Suisse $CS $PATH
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@buythedip ROKU was the one this morning, I still like RBLX during Powell
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damn that Roku call out 🤮 shit was straight money 🔥
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what in the world ROKU wow .. year lows today ha
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@Kendo257 did you hold ROKU
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I considered ROKU but liked RBLX better, but ROKU move came immediate
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played roku a bit
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anybody took ROKU
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RBLX presents a better RVR than ROKU
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RBLX and ROKU both are in Communications and currently mirroring each other
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Roku pioneered streaming to the TV. We connect users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku streaming players and TV-related audio devices are available in the U.S. and in select countries through direct retail sales and licensing arrangements with service operators. Roku TV™ models are available in the U.S. and in select countries through licensing arrangements with TV OEM brands. Roku is headquartered in San Jose, Calif. U.S.A.
CEO: Anthony Wood
HQ: 1155 Coleman Avenue San Jose, 95110 California