S&P 500 Week in Review: Netflix Draws Investing Demand, E-Trade Under Pressure
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.
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.
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.
Sears Holdings Corporation (NASDAQ:SHLD): The performance of this stock has been remarkable: up 69% year to date, the stock jumped by 8% before coming down close to where it started at the beginning of trading. Some believe Sears is now in a classic short squeeze.
Southwestern Energy Co. (NYSE:SWN) popped along with other natural gas producers because the spike of prices and Chesapeake’s planned cuts in production.
Chesapeake Energy Corporation (NYSE:CHK): After sinking overnight to $2.20, natural gas futures jumped 6.4% in a matter of minutes. Apparently there were too many short-sellers in the natural gas market, and the market has taken care of them for the time being.