Analysts at Wedbush have repeated their ‘Outperform’ rating for Netflix Inc (NASDAQ:NFLX, ETR:NFC) ahead of the streaming platform’s fourth quarter earnings due today after markets close.
They expect Netflix to report earnings per share (EPS) of $4.31 above the company’s guidance of $4.23 and the Wall Street consensus of $4.20.
A spotlight will swing onto the investment trust sector on Wednesday as the first of seven shareholder meetings called by US raider Saba Capital at various different London-listed investment companies, but analysts wondered if its aggressive approach has put off investors.
Having been steadily accumulating shares of between 19% and almost 30% in the seven London-listed investment companies, the hedge fund has called meetings to replace members of the independent boards with its own nominees.
Apple Inc (NASDAQ:AAPL, ETR:APC) shed almost 4% on Tuesday, placing it behind Nvidia Corp (NASDAQ:NVDA, ETR:NVD) as the duo continue to jostle for the spot as the world’s largest company by market capitalization.
A double whammy of news around declining iPhone sales in China and a downgrade by Jefferies on Tuesday weighed on Apple as trading got underway.
QinetiQ Group PLC was the biggest faller still, down almost 10% on Tuesday afternoon, but analysts at Shore Capital said this presented investors with an opportunity to buy shares in a fast-growing defence company for a cheaper price.
A trading update early in the day was "mixed", said analyst Jamie Murray in a note to clients, with pretty limited financial information from the FTSE 250-listed group apart from revealing that EMEA Services delivered revenue growth and that it was stable for the Global Solutions division.
Marks and Spencer Group PLC (LSE:MKS) is the best placed to cope if there is a rise in UK unemployment over the next six months, according to US bank JP Morgan.
"Reporting across the general retail sector this month has, on balance, been disappointing," added the bank, "particularly from retailers weighted into spending from lower-income demographics".
Nvidia Corp (NASDAQ:NVDA, ETR:NVD) should deliver strong fourth-quarter results and guidance despite concerns around supply chain issues and its latest Blackwell chips, according to UBS analysts.
“Guidance and investor concerns around a near-term ‘air-pocket’ are overblown,” the bank said in a note.