Netflix slips as Deutsche Bank sounds subscriber cautionJuly 13, 2018
Tech at A Glance
Netflix slips as Deutsche Bank sounds subscriber caution
Tech At A Glance Netflix ended up with its worst day in weeks after Deutsche Bank sounded some cautions ahead of Monday's afternoon earnings release.
There's near-term downside risk in the current subscriber numbers, says analyst Bryan Kraft, who's expecting a meet at best or a miss on global net adds. The stock's also doubled in 2018, which means it will take a meaningful boost to forecasts to spur a move up in coming days.
Shares of Netflix (NFLX) are seeing notable weakness in afternoon trading on Friday, with the video streaming giant sliding by 3.4 percent.
The drop by Netflix comes after Deutsche Bank warned could miss Wall Street's second quarter subscriber expectations when it reports its results after the close of trading next Monday.