Closing Bell Movers: Netflix down 5% after soft guidance

The return from long weekend saw the markets getting rattled as President Trump’s proposed tariffs starting at 10% on goods from several European countries related to disputed control of Greenland enflamed cross-Atlantic tensions.  Higher-beta names led the declines as investors rotated out of risk-assets in the U.S. – Tech, Consumer Discretionary, and Financials were the worst performers on the S&P 500 while Consumer Staples was the single sector in the green.  Precious metals, meanwhile, continued their move higher amid the risk-off environment, with an added boost coming as a result of lower U.S. Dollar.  Longer-term Treasury yields also rose as investors fret that European holders will be inclined to cut their U.S. debt positions – Tuesday morning headline that Danish Pension Fund Akademiker sold its U.S. Treasuries was greeted with increasing unease by the U.S. fixed income markets.

Following the broad-based selling, the opening hour of the evening session is seeing some modest relief – S&P e-minis, Dow Industrials, and Nasdaq 100 contracts are all up by a decimal, though sentiment may yet turn sour as disappointing guidance accompanying earnings out of Netflix (NFLX) is pressuring the stock afterhours and signaling consumer caution even with one of the internet “staples” in the Communication Services.   In commodities, WTI Crude Oil is back below $60 per barrel mark, though Gold and Silver remain buoyed around $4,780 and $95 per ounce.  

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Progress Software (PRGS) up 7.1%
• United Airlines (UAL) up 3.4%
• Zions Bancorporation (ZION) up 1.8%

DOWN AFTER EARNINGS –

• Netflix (NFLX) down 4.8%
• Bank OZK (OZK) down 3.7%
• Hancock Whitney (HWC) down 1.3%
• Interactive Brokers (IBKR) down 0.8%

ALSO LOWER –

• Newegg Commerce (NEGG) down 11.4% after disclosing Chairman detainment
• Corvus Pharmaceuticals (CRVS) down 7.4% after equity offering
• BioAge Labs (BIOA) down 3.6% after equity offering