The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Pressure from a key technical indicator could be why Netflix shares are falling, according to a chart analyst.
Netflix shares closed down 6.2 percent Wednesday.
Bespoke Investment Group told its clients that Netflix's inability to stay over an important moving average may have contributed to its sharp decline.
"The FAANG trade is getting hit hard today, with Netflix down. … The price chart for Netflix has looked bearish since it broke below its 50-day moving average a few months ago," the firm's co-head of research and investments, Justin Walters, said in a note to clients Wednesday. "The stock recently attempted to re-take its 50-DMA, but with today's decline, it looks like a failed test."
Moving averages aggregate price data over a time period and are used to gauge a security's longer-term trend.
In similar fashion, MKM Partners predicts more downside for the stock based on moving averages.
"The mid-term trend is becoming a concern as the 50 DMA has started to roll over and now must be considered resistance," JC O'Hara, chief market technician at MKM, said in an email. "We believe downward pressure will push Netflix closer to the August lows."
Source: Kimble Charting Solutions
One chart analyst also sees another bearish chart signal for Netflix stock.
There is a "potential double top" on Netflix's weekly chart, Kimble Charting Solutions founder Chris Kimble wrote in an email. The highs "appears to be creating a new falling channel with a series of lower highs and lower lows."
To be sure, Netflix stock's multimonth decline of more than 15 percent from its June high may primarily be a reaction to the company's recent unfavorable fundamentals
On July 17, Netflix shares fell 5.2 percent a day after it reported disappointing second-quarter financial results. The company added 5.15 million memberships during the quarter missing the Wall Street consensus of 6.34 million.
But despite the stock's recent decline Netflix shares have significant cushion so far this year before they underperform the market. Its shares are up 89.4 percent through Tuesday versus the S&P 500's 8.3 percent gain.
— CNBC's Fred Imbert contributed to this report.