Earnings season also rumbles on, and we have a slew of interesting reports due out this week. Dow component Caterpillar (CAT) is up 5.5% in the pre-market after handily topping analysts estimates. Netflix (NFLX), which confirmed Monday that it would launch in Britain and Ireland in early 2012, is due to report after the close.
The stock has been decimated after reporting a greater than expected loss in subscribership after price hikes earlier this year. Will the cancellations dramatically affect the bottom line, or is an earnings miss priced in? NFLX surged into the close Friday and is up in the pre-market, so it looks like we may see a little run into the report.
Tomorrow after the close we have Amazon.com (AMZN), which has the opportunity to emerge as a clear market leader. Big cap tech has weakened and other sectors have led the latest push in the market, but AMZN has a chance to change that. The company is expanding into new businesses, and can wrestle market leadership away from the fading AAPL.
*DISCLOSURES: Scott Redler is long SPY, XLF, QQQ
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