On Wednesday, Shares of Netflix, Inc. (NASDAQ:NFLX), gained 0.46% to $110.23. 33.23 million shares of the company were exchanged.
The stock is up 125.87% in this year through last close, and the beta ratio has a value of 1.40. The stock, as of recent close, has shown weekly upbeat performance of 1.97% which was maintained at 11.16% in 1-month period.
Netflix appears to be showing rare vulnerability on its home turf as the number of U.S. subscribers failed to meet the video streaming service’s own projections, according to Los Angeles Times.
The Los Gatos, Calif., company said Wednesday that it added some 880,000 U.S. subscribers in the third quarter, well below its forecast of 1.15 million. The big miss raised fear that Netflix may be starting to have trouble keeping subscribers amid raised competition from rivals like Hulu, Amazon and HBO’s newly launched stand-alone service.
Investors dumped the stock in after-hours trading, where it plunged as much as 15% after Netflix released its quarterly earnings report. The stock had risen nearly 126% on the year through Wednesday’s close. Los Angeles Times Reports
Netflix, Inc., an Internet television network, engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally.
Shares of Colfax Corp (NYSE:CFX), declined -9.75% to $26.65, during its last trading session.
Colfax Corporation (CFX), a leading global manufacturer of gas- and fluid-handling and fabrication technology products and services, declared its financial results for the third quarter ended September 25, 2015.
For the third quarter of 2015, net income was $18.4 million, or $0.15 per dilutive share. Adjusted net income (as defined below) was $29.5 million, or $0.24 per share, contrast to $71.3 million for the third quarter of 2014, or $0.57 per share.
Net sales were $969.1 million in the third quarter, a decrease of 16.8% from the preceding year. Net sales reduced 6.5% organically contrast to the third quarter of 2014. Third quarter operating income was $45.6 million, with adjusted operating income (as defined below) of $58.6 million. Operating expenses comprised of $20.0 million of charges for uncollectible accounts, impairments, and other adjustments. Adjusted operating income margin (as defined below) was 6.0% in the third quarter.
Third quarter gas- and fluid-handling orders reduced by 17.6% to $444.2 million contrast to orders of $539.4 million for the third quarter of 2014, an organic order decrease of 12.5%. Gas- and fluid-handling finished the period with backlog of $1,313.8 million.
Colfax Corporation, an industrial manufacturing and engineering company, provides gas-and fluid-handling, and fabrication technology products and services to commercial and governmental customers worldwide. The company operates in two segments, Gas and Fluid Handling, and Fabrication Technology.
Finally, Shares of Paypal Holdings Inc (NASDAQ:PYPL), ended its last trade with 2.50% gain, and closed at $34.05.
PayPal declared the expansion of Return Shipping on Us, a service that refunds return shipping costs to consumers on eligible online purchases using PayPal from around the globe. The service will now be accessible to PayPal users in the United States, in addition to the nearly 40 markets in which it already exists. The service has already been successfully tested across the globe in countries such as Australia, France, Italy, Spain and others, with millions of PayPal users opted-in to enjoy the benefits of Return Shipping on Us.
This offering comes at a critical time with the start of the holiday shopping season. For the last several years, PayPal’s transaction data saw spikes occurring on September 30th indicating that shoppers are starting their holiday shopping much sooner than Black Friday.
According to a PayPal and Ipsos’ cross border study, overall e-commerce spending is predictable to grow by 10 percent in 2015 to $50 billion, but many shoppers are discouraged by added shipping costs. High return shipping costs are discouraging more than half of online shoppers globally from making repeat purchases and 48 percent of American shoppers view free return shipping as a necessity when purchasing online.
PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, in addition to at offline retail locations through a range of payment solutions across company’s payments platform, counting PayPal, PayPal Credit, Venmo, and Braintree products.
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