Midday Stock Movers: Netflix, Lululemon, IBM
2022.04.20 19:26
By Sam Boughedda
Investing.com — U.S. stocks are mixed Wednesday despite an overall positive start. Here are the midday movers on Wednesday, April 20th.
Allovir Inc (NASDAQ:ALVR) stock jumped 28% after the US Food and Drug Administration (FDA) granted Regenerative Medicine Advanced Therapy designation to its lead investigational drug, posoleucel.
Netflix Inc (NASDAQ:NFLX) is currently down 36% after it reported earnings after the close Tuesday in which it revealed a loss of over 200,000 subscribers, its first loss in subscribers in over a decade. The streaming giant also forecasts further losses in Q2.
Walt Disney Company (NYSE:DIS) has slid 4.7%, while Roku Inc (NASDAQ:ROKU) has fallen 4% in sympathy with Netflix.
International Business Machines (NYSE:IBM) is trading 7% higher following its first-quarter earnings report after the closing bell Tuesday. The company beat analyst earnings and revenue expectations.
Omnicom Group Inc (NYSE:OMC) beat Wall Street earnings and revenue estimates when it reported earnings, pushing its stock 5.5% above Tuesday’s close.
ASML Holding (NASDAQ:ASML) has risen 3% following its earnings report before the open, in which it beat Wall Street forecasts for earnings per share and revenue. The company said it experienced strong demand from chipmakers.
Despite an initial rise premarket, Lululemon Athletica Inc (NASDAQ:LULU) is now down 2.8%. The apparel company revealed a five-year plan to double revenue, which focuses on quadrupling international sales and doubling revenue from its men’s and digital operations.
