Investors should watch Netflix (NFLX) today. The stock gained 11.1% last Friday after posting robust Q3 results.
In Q3, Netflix earned $5.40 a share. Revenue grew by 15.0% Y/Y to $9.82 billion. Paid membership for streaming increased by 5.07 million to 282.72 million. Looking ahead, the company expects revenue to grow by 15%. Revenue diversification is improving as Netflix builds its advertising business.
Investors should consider starting a small position, since the stock trades at a higher price post-earnings.
In the drugstore sector, CVS Health (CVS) may establish a support level of $60. Shares lost 5.23% after announcing that David Joyner, a longtime executive, will be CEO. He will replace Karen Lynch, effective Oct. 17, 2024.
In the Medicare space, watch out for Cigna (CI) shares breaking down. After the market closed, the media speculated that Cigna resumed talks with Humana (HUM) to discuss a deal.
Watch out for Bunch Global (BG) today. The stock peaked at $114.92 in the summer but closed at $89.55. Markets are worried that grain handling firm Ag Growth (AGGZF) faces headwinds from weak crop prices. This hurt both Bunge and Archer Daniels Midland (ADM) stock.
Lam Weston Holdings (LW) is a speculative bullish idea. Jana Partners disclosed a 5% stake in LW stock. Shares traded as low as $52.99 in July. It closed at $78.22 last week.
