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The Midday S&P 500: Netflix Is Down After Reporting Poor Earnings


Plus, Monster rises after standing up for its product.

MINYANVILLE ORIGINAL Today the S&P 500 (INDEXSP:.INX) is up .13% to 1,415.54 as of 2:30 p.m. EDT. In a stunning turnaround, Monster Beverage Corp. (NASDAQ:MNST) gained 14.36% to $46.97 per share after statements yesterday claimed that its beverage was most likely not the cause of Anais Fournier's untimely death. The 14-year-old Fournier died suddenly of cardiac arrest after consuming multiple Monster Energy drinks, and her family's lawsuit against Monster and the FDA's investigation into the matter has recently earned the company a lot of negative press. Also up is Avery Dennison (NYSE:AVY), which rose 8.87% to $32.43 after reporting its strongest organic sales growth since the first quarter of 2011. Gilead Sciences (NASDAQ:GILD) is benefiting from positive earnings reports, as a solid performance over the previous quarter caused its stock to rise 6.15% to $68.91 per share today.

Leading today's losers is Newfield Exploration Co. (NYSE:NFX), which lost 16.72% to $27.75 per share after stating that oil production might plunge 25% next year. Following behind it is Netflix (NASDAQ:NFLX), which dropped 11.90% to $60.17 after yesterday's disastrous earnings report and statements that the company's growth is slowing considerably. Finally, Corning Inc. (NYSE:GLW) is also down 9.96% to $12.07 per share after posting low earnings results.
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