Diamonds and Dogs
IBM (IBM) strong following earnings. IBM is up 7% to a two month high after beating estimates and reporting strong demand for their software and consulting business. IBM spun off their slow growth mainframe business last year becoming more of a pure software and growth play. So far it seems to be working.
Netflix (NFLX) taking a hit. The streaming giant is down 36% at a four year low after missing sales estimates, missing new subscription numbers by a wide margin and lowering guidance. Part of the missed subscription numbers came out of Russia due in part to the war and embargo against the country. Netflix news is hitting all the streaming stocks including Disney, Warner Brothers Discovery and others. Netflix received eight downgrades from analysts. Thanks for nothing.
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