Wedbush lowered its price target for Netflix from $105.00 to $90.00.
bearish 30 · impact 40
CoreWeave fell 12% on interest rate sensitivity. Netflix dropped 2.9% after chief content officer departure and staff cuts. Tesla slipped 2% in tech slump after Roadster unveiling. J.B. Hunt beat but warned on costs. Alcoa rose on earnings.
Netflix named former Walt Disney executive Peter Rice as chief content officer, effective Oct. 26, replacing Bela Bajaria. Shares fell 3.6% to $69.99 pre-market, extending a 23% year-to-date decline. The hiring highlights Netflix's struggle to revive engagement and subscriber growth amid competition from YouTube TV.
bearish 30 · impact 70
Netflix is reportedly planning to cut 800 jobs days before its earnings report. The move comes as the company faces declining US TV viewing share. The report is unconfirmed.
bearish 30 · impact 60
Netflix laid off roughly 1,000 employees, its largest job cut since 2022, citing slower growth and declining engagement. Co-CEOs said cuts are not AI-related but a response to a more competitive streaming landscape. Separately, September CPI came in at 3.7%, above expectations, supporting case for another Fed rate hike.
bearish 30 · impact 70
Netflix is laying off 6% of its workforce, its biggest cuts since 2022, citing slowing growth and weaker customer engagement. Shares are down over 40% in the past year. The layoffs come one week before earnings; Netflix maintains its full-year outlook.
bearish 30 · impact 60
Netflix is reportedly planning to reduce its staff by 6%.
bearish 30 · impact 60
Keybanc lowered its price target for Netflix from $92.00 to $85.00.
bearish 30 · impact 30
Netflix has acquired exclusive rights to broadcast the 2030 FIFA World Cup in Spain and Andorra.
bullish 70 · impact 40
Netflix co-CEO Ted Sarandos said the company isn't growing as fast as he wants, noting that live programming uses 5% of the $20B content budget but drives only 1% of viewing.
bearish 35 · impact 35
