Netflix, Nordstrom, Bed Bath & Beyond
Netflix (NFLX)
Netflix shares rallied following the release of quarterly results and the announcement that cofounder Reed Hastings stepped down as chief executive officer, ceding the position to Ted Sarandos and Greg Peters.
Sarandos has been the co-CEO of the streaming giant.
Netflix’s quarterly revenue came in at $7.85 billion against consensus estimates of $7.86 billion and earnings per share of 12 cents versus Wall Street expectations of 42 cents. The streaming platform added 7.66 million subscribers, beating Wall Street estimates of 4.5 million.
northern (JWN)
Shares of Nordstrom fell after the luxury retailer lowered its full-year earnings outlook to $1.50 to $1.70 per share from $2.30 to $2.60.
“The holiday season is packed with promotions and sales are lower than pre-pandemic levels,” CEO Erik Nordstrom said in a company update on holiday shopping results.
Net sales fell 3.5% in the nine weeks ended December 31.
Nordstrom also announced that its director of merchandise, Teri Bariquit, is retiring and that the search for a successor is underway.
Shower beds and more (BBBY)
The struggling retailer announced that it received a notice from the Nasdaq Stock Exchange about the company’s failure to comply with continuing listing requirements because it had not filed quarterly results with the Securities and Exchange Commission. translation for the period ending November 26, 2022.
The notice “has no immediate effect” on the listing or trading of Bed Bath & Beyond shares, according to the company’s announcement. 8-K file.
Bed Bath & Beyond said it “continues to work hard to finalize its Quarterly Report” and plans to file as quickly as possible to regain listing rule compliance.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
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