Bespoke co-founder Paul Hickey appeared on CNBC’s Closing Bell on Monday to discuss the markets and earnings reports from Netflix (NFLX) and United Continental (UAL) as well as a number of other topics. To view the segment, please click on the image below.
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Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke Institutional clients, we take a look at Chinese credit statistics, French election polling ahead of their vote on Sunday, and update our positioning trackers for the CFTC’s Commitment of Traders in futures markets.
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The S&P 500-tracking SPY ETF is down 2.49% since its March 1st high. Below is an updated look at our country ETF trading range screen to highlight how the rest of the world has been trading over this time period. In terms of overbought/oversold levels, 13 of 30 countries remain overbought, while none are oversold. But the US is one of just a few countries trading below their 50-day moving averages (the black vertical “N” line in the screen). Just 5 of 30 countries are down since March 1st, with Brazil (EWZ) down the most followed by the US (-2.49%).
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After posting gains of 19% and 4% on its last two earnings reaction days, Netflix (NFLX) is entering its April earnings report (tonight after the close) in what appears to be a hibernation phase. Over the last three months (60 trading days), NFLX has had a high/low closing range of just 7.77%. That’s actually the lowest 3-month high/low range that the stock has ever experienced dating back to its IPO in 2002.
Given the complete lack of volatility for a normally volatile stock, is NFLX set to explode higher or completely tank lower when it opens for trading tomorrow following earnings? It’s definitely likely to experience a big move one way or the other. Over NFLX’s 59 quarterly reports dating back to ‘02, the stock has experienced an average move of +/-13.87% on its earnings reaction days. That ranks it at the very top of large-cap stocks and 13th out of all US stocks in terms of earnings day volatility.
We pulled up NFLX’s historical reports using our Earnings Database (available to Bespoke Institutional and Exclusive members only) to see how the stock typically trades on its April earnings reports. We ended up finding some amazing stats. For a stock that has gained more than 13,000% since its IPO 15 years ago, the stock has actually struggled quite a bit on its earnings reaction days. In today’s Chart of the Day (available to all paid clients), we highlight a few key earnings stats for Netflix. Start a no-obligation two-week free trial to Bespoke’s research platform to see the report now.
