Midday movers: Netflix, Alphabet, Nordstrom and more

  • Investing.com
  • Stock Market News
Midday movers: Netflix, Alphabet, Nordstrom and more
Credit: © Reuters.

By Liz Moyer

Investing.com -- Tech stocks were rallying on Friday after better-than-expected subscriber numbers from Netflix and cost-cutting by Google parent Alphabet. Here are the midday movers for Jan. 20.

  • Netflix Inc (NASDAQ: NFLX ) shares were up 6.7% after the streaming giant reported adding 7.66 million net new subscribers in the fourth quarter, beating its own forecast of 4.5M. In the first quarter that includes its ad-supported subscription tier, Netflix said it didn't see evidence that premium subscribers were moving to the cheaper tier.
  • Alphabet Inc (NASDAQ: GOOGL ) (NASDAQ: GOOG ) stock was up more than 4% after it announced plans to cut 12,000 jobs, joining other tech giants to make sharp cost-cutting moves amid rising interest rates and a view of leaner economic conditions ahead.
  • Nordstrom Inc (NYSE: JWN ) shares were down 0.3% a day after the department store operator said holiday promotions and a more cautious consumer combined to cut its holiday sales 3.5% compared with a year earlier. It lowered its earnings outlook.

  • Wayfair Inc (NYSE: W ) shares were up 20% after the online home furnishings retailer revealed plans to cut another 1,750 jobs after cutting about 870 in August. 
  • Eli Lilly and Company (NYSE: LLY ) stock fell 2% after the Food and Drug Administration rejected its request for accelerated approval of its Alzheimer's treatment because it wants more data.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or