Bitcoin, Netflix, Peloton, Coinbase: What to Watch When the Stock Market Opens Today

Bitcoin, Netflix, Peloton, Coinbase: What to Watch When the Stock Market Opens Today

Stock futures are wobbling after disappointing earnings reports from some popular technology stocks. Here’s what we’re watching at the end of a rough week on Wall Street:

Bitcoin’s price fell below $40,000, and crypto stocks were dragged down with it. Coinbase dropped 4.2% ahead of the bell, and bitcoin miners Marathon Digital and Riot Blockchain each slid more than 7%.

Netflix plunged 20% premarket. The streaming giant said it expects to add a much smaller number of subscribers this quarter than it did a year ago as it adjusts to growing competition and lasting disruptions from the coronavirus pandemic. The bad news seemed to rub off on streaming-device maker Roku, which shed 5.5% premarket.

Peloton powered 5.4% higher premarket, but that only makes up a bit of Thursday’s 24% drop. The company is reviewing the size of its workforce and resetting production levels as it adapts to more seasonal demand for its exercise equipment.

Intel nudged down 0.4%. The company plans to invest at least $20 billion in new chip-making capacity in Ohio.

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