Netflix and Halliburton Lead S&P 500 Losers
The S&P 500 (NYSEARCA:SPY) is down by 0.14% today and stands at 1,311. Here are three notable stocks that are experiencing large declines today.
Netflix (NASDAQ:NFLX) was hit hard pre-market by Wedbush’s lack of confidence. Wedbush believes that Q1 earnings will be poor, and 2012 consensus estimates ill drop a buck a share. Piper Jaffray, for what it’s worth, is optimistic about Netflix, as they think the customer base will stabilize and ultimately grow again. NFLX shares recently traded at $96.47, down $3.77, or 3.76%. They have traded in a 52-week range of $62.37 to $304.79. Volume today was 5,456,100 shares versus a 3-month average volume of 8,962,790 shares. The company’s trailing P/E is 21.93, while trailing earnings are $4.40 per share.
Halliburton’s (NYSE:HAL) results came in this morning, and although EPS and revenues beat estimates, the higher expectations of the market were not met. Interesting tidbit: unconventional oil drilling has twice as much activity as unconventional gas drilling. HAL shares recently traded at $35.09, down $1.11, or 3.07%. They have traded in a 52-week range of $27.21 to $57.77. Volume today was 22,181,384 shares versus a 3-month average volume of 18,035,000 shares. The company’s trailing P/E is 12.72, while trailing earnings are $2.76 per share.
Amgen (NASDAQ:AMGN): The entire pharmaceutical sector is being downgraded, and Amgen is no exception. Its stock has been downgraded to underweight by JP Morgan. AMGN shares recently traded at $67.93, down $1.64, or 2.36%. They have traded in a 52-week range of $47.66 to $69.63. Volume today was 3,946,552 shares versus a 3-month average volume of 8,542,480 shares. The company’s trailing P/E is 16.82, while trailing earnings are $4.04 per share.