Diamonds and Dogs
Sobering news from BlackRock (BLK). The financial stock is up 3% to new highs on strong earnings and record inflows, but they did have some sobering news. CEO Larry Fink made comments stating he believes the economic downturn right now is worse than 2008.
Profit-taking in Netflix (NFLX). Netflix is down 6% following disappointing earnings and cautious guidance. The company actually had a great quarter adding 10.1 million paid subscribers over the three months ending in June. The second quarter tally lifted the first half total to 26 million new subscribers, more than twice the pace of last year's gains, but some investors believe the pandemic pulled demand forward.
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