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After closing up 13.88 percent on news that Carl Icahn bought a 9.98 percent share in the company, Netflix (NASDAQ:NFLX) dropped as much as 1.45 percent today. The 13D filed with the Securities and Exchange Commission notes that Icahn believes the shares were undervalued due to the company’s “dominant market position and international growth prospects.”
Visa (NYSE:V) posted earnings after the bell on Wednesday that beat estimates. The stock is up as much as 3.1 percent today after Wells Fargo lifts its valuation range on the stock to $150-$155 and maintains an “Outperform.” Visa closed at $138.76 on Wednesday.
Retailers are seeing some action as October sales numbers come out.
Target (NYSE:TGT) dropped as much as 0.93 percent this morning as comparable store sales for October hit the low end of its expected range. Same-store sales grew only 2.4 percent, for monthly sales of $4.98 billion.
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Shares of Macy’s (NYSE:M) shot up as much as 4.34 percent after reporting October same-store sales rose 4.1 percent for total sales of $1.9 billion. This is a 3.6 percent increase from the month a year ago.
Starbucks (NASDAQ:SBUX) is expected to post strong third-quarter earnings on Thursday. Analysts average an estimate of $0.13 per share for the quarter, with revenue expected at $3.38 billion.
News Corp. (NASDAQ:NWS)(NASDAQ:NWSA) I’ts unclear if the earlier drop was due to the company’s decision to pursue a 1.94 billion Australian dollar ($2.01 billion) takeover of Consolidated Media Holdings. Shares have now begun to recover, and are trading up 1.73 percent today.
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