Diamonds and Dogs
Netflix (NFLX) higher on an upgrade. Netflix is up a percent to a new high thanks to an upgrade at Stifel. The analyst forecasts 753k domestic net streaming subscriber additions in 3Q, narrowly below Street consensus of 800k and in-line with the company's forecast of 750k. For international streaming, they estimate 3.65mm net adds, in-line with consensus (3.69mm) and company guidance (3.65mm). The analyst estimates 30% year over year revenue growth in 3Q (in-line with guidance of 29.6%). Netflix continues to benefit from last year's price increase. On the profitability side, they expect an operating margin of 6.8% in third quarter.
J. Jill (JILL) is not doing well. The women's apparel retailer is down 50% after cutting its outlook for the third quarter because of lower-than-expected sales. The company forecast adjusted earnings of 8 cents to 10 cents a share for the third quarter, down from a previous forecast of 18 cents to 20 cents a share. J.Jill also expects third-quarter same-store sales to decline by 3% to 5%. Analysts surveyed by FactSet had estimated earnings of 19 cents a share with a 7.4% increase in same-store sales.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.