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CALM RETURNS: The Dow Jones industrial average fell 25 points one day after a 243- point decline, its third-worst of the year. LIKE: Facebook had its best day since its stock market debut in May. REMOVE FROM QUEUE: Netflix dropped 12 percent after slashing its prediction for how many U.S. video-streaming subscribers it would add this year to 4.7 million to 5 million.
The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment. Netflix plunged 12 percent after slashing its target for full-year subscriber growth. About four stocks fell for every three that rose on the New York Stock Exchange.
CNBC's Herb Greenberg discusses the details of Netflix and Tempur-Pedic's quarterly earnings.
Discussing whether it's time to take Netflix off your stock cue, with Barton Crockett, Lazard Capital Markets analyst.
Andy Hargreaves, Pacific Crest Securities analyst, explains why he has an "outperform" rating on the stock and $85 price target; while Vasily Karasyov, Susquehanna analyst, weighs in with his "neutral" rating and $50 price target.
NEW YORK-- The steep losses stopped Wednesday as the stock market turned calm, a day after one of its biggest sell-offs of the year. "Today we're assessing the damage," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. " DuPont, 3 M, UPS and Xerox all reported lower sales than a year ago.
NEW YORK-- Shares of Netflix Inc. tumbled more than 16 percent before Wednesday's opening bell, after the company slashed its prediction for how many U.S. video-streaming subscribers it would add this year. As a result, Netflix cut its estimate for full-year U.S. streaming subscriber additions to between 4.7 million and 5.4 million.
LOS ANGELES, Oct 23- Netflix Inc added fewer U.S. customers than Wall Street expected in the third quarter, forcing the company to roll back its year-end subscriber forecast and sending shares plunging 15 percent.
In Netflix's third-quarter earnings report, its predictions for year-end U.S. streaming subscriber growth was cut to around 5 million net additions, down from a best-case scenario of 7 million. The downward revision caused Netflix's stock to fall more than 16 percent in after-hours trading.
NEW YORK- Global shares slide more than 1 percent and the euro falls as a slew of weak U.S. corporate earnings results and credit rating downgrades of several indebted regions of Spain triggered a new round of fears over the global economy (MARKETS-GLOBAL/, moving shortly, by Angela Moon, 1,050 words).
*DuPont drops sharply on results, UTX modestly lower. *Apple pares losses after new iPad launch. Multinationals including DuPont and United Technologies fell short of Wall Street's revenue expectations, amplifying worries about the health of the global economy.
The Dow Jones industrial average posted its biggest point drop since June, shedding about 220 points, as large multinational companies including Dupont and United Technologies reported disappointing profits and earnings outlook.
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LOS ANGELES-- Netflix slashed its prediction for how many U.S. video-streaming subscribers it would add this year after subpar third-quarter results, causing a sharp sell-off in its stock in after-hours trading.
The video-subscription service reported its revenue rose in the third quarter, hitting analysts' target, but its streaming forecast fell short of expectations.
*DuPont drops sharply on results, UTX modestly lower. The latest string of disappointing results came from blue-chips DuPont and United Technologies, which operate around the world and in many industries. DuPont shares lost more than 8 percent, leading the Dow industrials lower.
NEW YORK, Oct 23- Global shares and the euro tumbled on Tuesday after a slew of weak U.S. corporate earnings results and credit ratings downgrades of several indebted regions of Spain.
Check out which companies are making headlines after the bell Tuesday.
LOS GATOS, Calif.-- Netflix cut its prediction of how many video streaming subscribers it would add this year after its third-quarter additions of 1.2 million came in at the low end of the company's forecasts. Netflix's stock sank $10.72 in after-hours trading to $57.50.
A little more than a year ago, Netflix was the darling of the stock market. The stock were priced near $300 and its subscriptions were growing at 3 million per quarter. That all changed in July 2011 when the company announced a new pricing structure that replaced the $9.99 monthly fee for DVDs and streaming video with a new fee of $15.98.