Netflix stock closed below $500 on Friday: Can we expect further downside?

Netflix stock closed below $500 on Friday: Can we expect further downside?

Netflix shares plunged 15% last week from the $575 level as the company signalled weaker subscriber growth and profits were weaker than expected. Meanwhile, the revenue for the last quarter reported was $70 million higher than the Wall Street estimates. The world’s largest streaming company announced the second-quarter 2020 financial results on Thursday after market close.

Top earnings reports to watch this week

Top earnings reports to watch this week

Investors will shift their attention this week to corporate earnings with some of the biggest U.S. companies reporting their earnings later the week. Global shares trading strong on Monday ahead to the release of major corporate earnings results.

FedEx surprised Wall Street with stronger-than-expected earnings

FedEx surprised Wall Street with stronger-than-expected earnings

The U.S. package delivery giant FedEx (NYSE: FDX) reported better-than-expected fourth-quarter earnings results on Tuesday after the market close. While the company reported a loss of $334 million in its fiscal fourth quarter but its revenue surpassed the expectations as the Covid-19 pandemic continues to boost the online shopping.