U.S. stock futures were flat Thursday night after Netflix's quarterly report sent the stock tumbling.
's quarterly report sent the stock tumbling and raised concern about one of the best-performing spaces in the market during the pandemic.
Netflix reported second-quarter earnings that missed analyst expectations, pushing the stock down 10% in after-hours trading. The company's guidance for third-quarter subscriber growth — a key metric for the streaming giant — also contributed to the steep sell-off in the stock."This is a terrible number," Tim Seymour, founder of Seymour Asset Management, told CNBC's "," referring to Netflix's subscription growth guidance.
Wall Street was also coming off a broad decline as investors pored over a mixed batch of economic data. The Dow slid 135 points, or 0.5%, to snap a four-day winning streak. The S&P 500 and Nasdaq Composite dipped 0.3% and 0.7%, respectively.. Economists polled by Dow Jones expected a gain of 1.25 million.
Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, said the market took the better-than-forecast retail sales data with "a grain of salt."
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