Stocks and Securities
U.S. stocks futures were trading in a tight range Tuesday, signalling another day of moves in and out of positive territory as investors wait for more earnings reports.
Shares in Netflix Inc. (NFLX) have declined sharply ahead of the opening bell after the streaming company reported disappointing quarterly results late Monday. Yesterday’s Morning Coffee advised our readers to sell into any strength during the session.
Revenue came in at $3.91B despite a $3.93B forecast, and subscriber additions came in at $5.1M despite a $6.2M forecast. An EPS of $0.85/share included a rise largely due to currency appreciation, so you could make the case that EPS was a miss as well. Excluding the FX gain EPS came in at $0.66/share despite a $0.79/share forecast. Netflix guided Q3 EPS revenue and subscribers just below the Street’s expectations.
Netflix stock was ‘priced to perfection’ and Wall Street analysts warned about risk to Q2 subscriber estimates in recent sessions. The stock is down 12% in pre-market testing and it’s 20-week moving average is near $343. We would re-enter the stock just below that average.
Blockchain and Cryptocurrency
Bitcoin (BTC) and Ethereum (ETH) both held quite well overnight, up about 1.76%% and down just 0.46%, respectively. Market capitalization increased from $264B USD to $269B USD which is a 1.8% increase in just 24 hours. This 24 hour volume of $13.8B is increased compared to Monday. BTC dominance of 42.7% is slightly higher compared to yesterday.
Read our technical analysis on Bitcoin (BTC) and Ethereum (ETH) – the general consensus from analysts still seems to be very bullish, however, crypto continues to fail to gain traction due to lack of volume.
There have been a lot of positive developments in the cryptocurrency space in the past 24hours. There appears to be some significant news, in addition what we discussed yesterday, that continues to add to the bullish sentiment and momentum for Bitcoin (BTC) and cryptocurrency / blockchain space.
Stocks on the Radar
Our readers saved 13% on Netflix Inc. (NFLX) – we closed NFLX up 3.5% since our suggestion, and we plan to re-enter at a later date, and made 13% on our cryptocurrency pick NEO. Additionally, Amazon Inc. (AMZN) up about 1% and more than 6% since our suggestion. Below is our today’s list of cryptocurrency and stocks to buy or to invest in:
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