Diamonds and Dogs
As today's diamond leaves Obama Care they see their share price rise. United Health Care (UNH) is up 2% to a new 52 week high following better than expected earnings. The Minnesota based company reported $1.81 earnings per share on $44.53 billion revenue. Following earnings, the health insurance company also announced that they will be leaving most of their Obamacare marketplaces by 2017 due to unprofitability. The insurer also nudged its 2016 sales and earnings forecasts slightly higher. Looks like healthcare is back.
Do what every college kid does on Sunday, either relax or freak out. Netflix (NFLX) is sending its shares into a downwards spiral losing 12% of their value after disappointing earnings and guidance. Following earnings, the company said they expect to add 2 million more users this quarter which is less than analyst expectations of 3.45 million new subscribers. The company said they will have to issue more bonds later this year or early next year to cover negative cash flow and finance their ambitious growth plans. The company has $2.4 billion in debt. I hope their plan works.