Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Netflix (NFLX) shares slid in postmarket trading on Thursday, after the streaming company forecast earnings per share for the second quarter that missed the average analyst estimate. Company Co-Founder and Chairman Reed Hastings separately announced plans to not stand for reelection to the board at their annual meeting in June.
- Charles Schwab Corp (SCHW) reported first-quarter revenue that slightly missed estimates even as the brokerage continued to attract the wealth of retail investors amid geopolitical uncertainty. First-quarter net revenue of $6.48 billion fell short of analyst expectations of $6.51 billion. Net interest margin, a key measure of profitability for Schwab’s bank, came in at 2.88% for the first three months of the year, while analysts had forecast 2.94%. Schwab shares slipped in Thursday trading, and are down 3.5% this year.
- PepsiCo (PEP) said it’s starting to see salty snack sales grow after the company cut prices earlier this year. The maker of Doritos and Lay’s said its strategy of slashing prices by up to 15% in some brands and reducing internal costs through layoffs and plant closures was starting to pay off. After years of declines, organic revenue in its North American foods division increased 1% and volume grew 2%, the company said in its first quarter earnings Thursday. Shares closed higher in Thursday trading.