Netflix Soars on Subscriber Count and 2 Other Hot Stocks to Watch
Netflix (NASDAQ:NFLX): Current price $216.74
New, higher subscriber figures sent shares up by 24 percent on Tuesday to their highest since September 2011, after the company reported that it added in excess of 2 million domestic subscribers in the last quarter. The jump made Netflix’s stock the fourth-most expensive in the Standard & Poor’s 500 on a valuation basis. Analysts hurried to alter their earnings forecasts, on the rationale that the firm’s push for exclusive content will drive margins in coming quarters. While they were at it, they also raised their targets for the stock price, which has more than quadrupled in the past eight months.
Citigroup (NYSE:C): Current price $46.49
On Tuesday, Citi and the United States Olympic Committee said that the firm will continue its support of Team USA as the official bank partner of the United States Olympic and Paralympic Teams through 2016. To commemorate its 200th anniversary, Citi was an official sponsor of Team USA in 2012 for the first time in its history. Citi Chief Excutive Michael Corbat said, “We are excited to continue our support of Team USA through the 2016 Games in Brazil. Our first-ever USOC sponsorship last year proved to be a meaningful platform to engage colleagues while showcasing our innovative banking products to clients and consumers. Supporting our U.S. Olympic and Paralympic hopefuls on their journey from ambition to achievement captures how we aspire to help our clients reach their goals and we are proud to be a part of the Olympic Movement.”
Delta Air Lines (NYSE:DAL): Current price $16.56
Delta and US Airways Group (NYSE:LCC) have reported profits that surpassed analysts’ estimates in the first quarter, which is usually the industry’s slackest period, as they filled more seats on planes. Earnings excluding certain items came to $85 million, or 10 cents per share, said delta on Tuesday in a statement. Analysts had forecast 6 cents, which was the average of 15 projections in a Bloomberg survey, while US Airways posted a profit of $55 million, or 31 cents a share, which beat the 28-cent average estimate. Both carriers filled over 81 percent of their available seats with paying passengers, and they generated more revenue from each seat flown a mile, which is a benchmark gauge.
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