Pandemic Darlings Netflix And Peloton May Become Reopening Duds

Pandemic Darlings Netflix And Peloton May Become Reopening Duds

Equity index futures are pointing lower on news from Netflix (NFLX). After the close on Thursday, NFLX reported better-than-expected earnings but missed its subscriber goal by almost half. The miss on subscribers sent investors looking for the exits and drove the stock down more than 19% in after-hours trading. Executives further warned that subscriptions could continue to struggle. This morning, investors are worried that the Netflix news could be signaling an end to the streaming wars. Disney DIS (DIS) was down 3. 90% in premarket trading because streaming has been a growing business for the entertainment company. Companies that rely less on streaming as part of their core business are down a little less; Amazon (AMZN) and Apple AAPL (AAPL) were down 1. 07% and 0. 74% respectively before the bell. On Friday morning, oil and gas equipment and services company Schlumberger SLB (SLB) reported better-than-expected earnings and revenue. SLB pointed to favorable fundamentals going forward because of the tight supply market, increasing demand, and rising oil prices. However, SLB was down 0. 40% in premarket trading which may be related to oil prices falling 1. 75% before the open. Today is January expiration, which is a big expiration for