The company added 2.7 million new subscribers in the second quarter of 2019, according to its earnings report released Wednesday. That's just over half of 5 million new subscribers that analysts had been expecting.
Netflix (NFLX) shares are set to fall 11% when US markets open.
It's a blow to the company at a time when competition with companies such as Disney (DIS) and CNN parent AT&T (T) is heating up.
Both rivals are expected to launch their own streaming services in the next year, causing Netflix to lose access to some popular shows like "Friends."
Next up among American tech giants: Microsoft (MSFT), which releases its results for the three months ending in June after US markets close.
2. Trade and earnings: Rising trade tensions are hurting Europe's most valuable tech company.
German business software group SAP (SAP) said Thursday that second quarter profits dropped 21% to €827 million ($930 million) because of restructuring costs and trade uncertainty.
SAP said that revenue from software licenses dipped 5% due to "trade-related uncertainty in Asia."
Investors had been expecting better results, and shares in the company dropped 7% in Frankfurt despite the group reiterating its full-year outlook.
It's the latest company to take a hit from the trade war between the United States and China. Car companies are particularly worried about tariffs at a time when auto sales are slowing.
3. Market dip: Markets are sliding as resurfaced trade concerns eat into investor optimism.
The Dow could fall 90 points, or 0.3%, when US markets open. The S&P 500 is poised to drop 0.3%, and the Nasdaq is tracking 0.4% lower.
European markets opened in the red. Britain's FTSE 100 dropped 0.7% in early trading, while Germany's DAX shed 0.9%.
That follows a tough trading session for stocks in Asia. Hong Kong's Hang Seng dropped 0.5%, while Japan's Nikkei shed 2%.
https://www.cnn.com/2019/07/18/investing/premarket-stocks-trading/index.html
2019-07-18 11:33:00Z
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