Novosti i prognoe: tržište kapitala od 17-07-2020

U.S. stock-index futures rose on Friday as the U.S. set another daily record for new coronavirus cases and investors bet on the fresh round of government support for the country’s economy, hit by the COVID-19 pandemic.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Netflix (NFLX) downgraded to Neutral from Outperform at Credit Suisse; target lowered to $525

Citigroup (C) downgraded to Hold from Buy at Odeon

FXStreet reports that according to analysts at Credit Suisse, S&P 500 can maintain an immediate upside bias while support at 3166/64 holds with key resistance still seen at 3233/38. Key today is how the tech sector performs.

“We remain of the view critical for US equity markets is whether the Nasdaq 100 completes or avoids an important bearish ‘reversal week’ . If a ‘reversal week’ for tech is established, we believe this would see the market as a whole see a more concerted phase of (still) corrective weakness.”

“Near-term support for the S&P 500 remains seen at the price gap from Wednesday morning at 3201/3198, below which can see weakness extend back to the 13-day average at 3166/64. This needs to hold to suggest the overall risk can stay higher in the range. A closing break though can reinforce the broader sideways range, but with removal of 3116/13 needed to mark a top to warn of a more concerted correction lower within this range.”

“Above 3233/38 remains needed to resolve the range higher to clear the way for a challenge on the bottom of the February ‘pandemic’ gap at 3260. Above here and we see resistance next at 3288.”

Netflix (NFLX) reported Q2 FY 2020 earnings of $1.59 per share (versus $0.60 per share in Q2 FY 2019), missing analysts’ consensus estimate of $1.83 per share.

The company’s quarterly revenues amounted to $6.148 bln (+24.9% y/y), beating analysts’ consensus estimate of $6.083 bln.

Netflix also reported global streaming net adds of 10.09 mln versus its prior guidance of 7.50 mln.

The company issued mixed guidance for Q3 FY2020, projecting EPS of $2.09 versus analysts’ consensus estimate of $1.99 and revenues of $6.327 bln versus analysts’ consensus estimate of $6.4 bln. It also guided Q3 global streaming net adds of only 2.5 mln.

NFLX fell to $491.77 (-6.75%) in pre-market trading.