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Netflix – Netflix delivered its latest quarter of disappointing subscriber growth during the final three months of last year, a trend that management foresees continuing into the new year as tougher competition is undercutting the video streaming leader. NFLX added 8.3 million worldwide subscribers during the October-December period, about 200,000 fewer than management had forecast. Besides releasing its fourth-quarter results Thursday, Netflix also projected an increase of 2.5 million subscribers during the first three months of this year, well below analysts’ expectations for a gain of 4 million and prior forecasts of 6.5m.
Peloton Interactive – Trading higher premarket after yesterday’s plunge that followed a CNBC report suggesting the company will temporarily halt production of its fitness equipment due to low demand. In an interview then aftermarket co-founder and CEO John Foley said “The information the media has obtained is incomplete, out of context, and not reflective of Peloton’s strategy.” The CEO also said the company was assessing ways to adapt the business, including layoffs.
Crypto Stocks – Under pressure as a group premarket as major cryptocurrencies tumble, investors continue the move away from riskier assets ahead of Federal Reserve meeting next week, and after Russia proposes ban on use and mining of cryptocurrencies. HUT, RIOT, MARA, BTBT, BITF, SI, MSTR, COIN
Apple Inc – Important for big tech to find support today, shares are positive on higher volume ahead of earnings from the company next week.
Nvidia Corp – Shares are set to open at their lowest in three months extending declines for a fourth straight day. The company is expected to post second-highest growth in the sector last year, according to Gartner estimates, but sluggishness in the PC and laptop market seem to be weighing on the stock, in another sign of analysts turning bearish on the sector, Piper Sandler on Thursday cut PT on peer Advanced Micro Devices AMD.O citing an expected slowdown in the PC market, which is among the biggest customer segments for Nvidia graphic chips.
Digital World Acquisition Corp – Back on watch holding $80 support premarket after showing relative strength late in the session Thursday as the rest of the market sold off sharply. If $77 support is broken has a lot room to the downside.
Blue Star Foods – Low float micro cap food processing company up sharply on news.
Save Foods – Another micro float (2m) company rallying on social media attention this morning.