Streaming giant Netflix (NFLX) is the hot stock today after the firm posted Q2 results. Unusually, markets did not react positively to the company’s 16.7% Y/Y revenue growth, to $9.56 billion.
Netflix forecasts revenue growth of 14% Y/Y in Q3. However, paid net additions will fall from last year, where paid sharing hurts comparable results. For the year, the firm expects revenue to grow by 14% to 15%.
After spending weeks in the low $7.00 range, Warner Bros. Discovery (WBD) broke out to as high as $9.00 on Thursday. It needs to trade above the $9.39 resistance at the 200-day simple moving average. Speculators assume that splitting its Max streaming service and movie studio from its legacy TV network would increase its fair value.
In the obesity drug sector, Novo (NVO) and Eli Lilly (LLY) will try to bounce back from yesterday’s sharp selling pressure. LLY stock lost 6.26% while NVO stock fell by 4%. YTD returns on Eli stock are still impressive, gaining 45.63%. For now, Eli is the biggest healthcare company by market capitalizsation. The pullback was inevitable. As obesity drug sales continue to rise, LLY stock will rebound.
In the AI sector, Nvidia (NVDA) and Apple (AAPL) will attract the most trading volume today. After Intel (INTC) shares held the ~ $35 level, confidence in its competitors will rise.
