Midday movers: Netflix, Intuitive Surgical, Western Alliance Bancorp and more
By Liz Moyer
Investing.com -- Stocks are wobbling on Wednesday after mixed earnings reports and rising Treasury yields. Here are the market movers for April 19.
- Netflix Inc (NASDAQ: NFLX) shares were down 4% after the streaming giant gave a disappointing outlook and said it would start its crackdown on password sharing in the U.S. in the current quarter, later than planned.
- Intuitive Surgical Inc (NASDAQ: ISRG) shares rose 11.9% after the maker of surgical robotics reported better than expected quarterly sales and earnings per share, while medical device maker Abbott Labs (NYSE: ABT) also rose 7.5% after better than expected results.
- Western Alliance Bancorporation (NYSE: WAL) shares jumped 20% after the regional bank said deposits had fallen 11% from the fourth quarter but were rebounding in the early days of April, adding $2 billion in deposits since the end of March.
Tesla Inc (NASDAQ: TSLA) shares were down 1.1% ahead of the electric vehicle maker's earnings report later today. Analysts are watching to see what Tesla's gross margins will be after several price cuts to its vehicles.
CDW Corp (NASDAQ: CDW) shares fell 13% after the information technology company offered guidance for $5.1B in quarterly revenue, below expectations, because of cautious business spending on IT. It said full-year earnings could come in below 2022.