Tech investors watch Netflix for market cues
‘Trends at Netflix, whether above or below expectations, will set the tone’
Beleaguered technology investors are looking to Netflix to stop the bleeding. The company’s earnings are poised to be even more closely watched than usual on Tuesday after last week’s market rout. Netflix is one of the first major US companies to report third-quarter results — and 2018’s best-performing Faang (Facebook, Apple, Amazon, Netflix and Google) stock — making it especially influential in the wake of a drubbing that hit the tech giants hard. "Trends at Netflix, whether above or below expectations, will set the tone," MKM Partners LLC analyst Rob Sanderson said in a note. Netflix is looking to redeem itself after missing subscriber estimates in the previous quarter, a whiff that sent the stock on its worst one-day tumble in two years. The shares have not managed to climb back to a record set in July, but they remain up 77% for the year. That is a better showing than the rest of the Faang cohort. As always, the most important gauge of Netflix’s performance is subscriber growt...
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