The Midday S&P: Netflix Is Back Among the Market's Biggest Losers
By Anthony Shields Oct 09, 2012 2:40 pm
The S&P is down for the third straight day.
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) is down .74% to 1445.35 as of 2:00 p.m. today. Today’s big loser is Edwards Lifesciences Corp (NYSE:EW) which is down 19.64% to $86.42 per share after warning that third quarter revenues would be lower than expected. Netflix (NASDAQ:NFLX) is also down in a big way, losing 9.55%, dropping its stock price to $66.58 and nearly reversing the gains it received yesterday. The sudden downturn is reported to come from the belief of some analysts that the company’s rivals, Amazon (NASDAQ:AMZN) and Coinstar (NASDAQ:CSTR), actually will gain market share once their streaming services are developed. Today’s big winner is Newfield Exploration Co. (NYSE:NFX), which rose 6.51% to $32.74 a share after announcing that it will sell all of its offshore assets in the Gulf of Mexico.
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