Netflix Shares Drop After Earnings, and the Top Biotech Analyst Dissects the Race for a COVID Cure

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 20 October 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Netflix stock dropped after the company posted disappointing subscriber growth and earnings for the latest quarter. Plus results from Snap and Texas Instruments. And Institutional Investor’s Top-Rated Biotech Analyst breaks down the outlook for companies racing to bring a coronavirus vaccine to market. And a moment of zen for Kohl’s as the department store takes on a new project.

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money.
0:04.4	Tonight's trader line up, Guyadami, Tim Seymour,
0:06.4	Karen Feinerman, and Steve Grasso tonight on Fast Snap Pops.
0:09.6	The Scott Stock rocketing higher in the after hour session on a surprise earnings beat
0:13.5	will break down the quarter straight ahead plus the big warning from Uber CEO today
0:17.9	and the stock went higher we will explain and later coals is getting in on one of the
0:22.4	hottest trends in the work from home era
0:24.1	what the retailer just announced that got investors feeling Zen.
0:28.6	We start off with an earnings alert on Netflix, the streaming giant falling in the after hour session,
0:32.8	after reporting its biggest earnings miss since going public.
0:35.8	Let's get straight to Julia Borsen with the low down, Julia.
0:40.5	Well, Melissa, Netflix shares plummeting on the company reporting its biggest earnings
0:44.0	miss since it went public.
0:46.0	That stock down about 6% on those, and that EPS miss that was 19% short of expectations.
0:53.0	Netflix's all important subscriber number also fell short of the company's already
0:57.4	lowered expectations.
0:58.8	Netflix added just 2.2 million subscribers in the quarter
1:02.3	and guided to the addition of fewer subscribers in the quarter and guided to the addition of fewer
1:03.9	subscribers in the fourth quarter than analysts anticipated. Now that's not all.
1:08.0	Looking ahead to next year, Netflix warns of some very tough comparisons.
1:15.0	Oh, sorry, here.
1:19.0	I'm making a quote here saying that hopefully as the world recovers in 2021 we would
	...

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