Stocks Tank Across the Board as Netflix (NFLX) Soars

Michael Teague |

Wall Street closed lower today after a fairly brutal sell-off that kept all benchmark indices in the red for the entirety of the trading session, after what has been an underwhelming earnings season was exacerbated by renewed fears about global economic contraction.

  • Standard & Poor’s 500 Index: -0.89 percent to 1,828.47

  • Dow Jones Industrial Average: -1.07 percent to 16,197.35

  • NASDAQ: -0.57 percent to 4,218.87

Despite the down-day, Sam Stovall of S&P Capital IQ still sees stocks as being very attractive, though the breakdown of the day’s trading by index would seem to paint a much more somber picture.

On the Dow:

Six components finished the day up, with only telecoms AT&T (T) and Verizon Communications (VZ) posting any substantial gains. Meanwhile, news of a potentially contracting Chinese economy in 2014 pulled financial stocks much lower, with American Express (AXP) , JPMorgan Chase (JPM) , and Visa Inc. (V) all off over two percent by the bell.

On the S&P 500:

Despite gains for telecoms, tech shares in general brought the benchmark S&P lower by the end of the day, with Intel (INTC) , Cisco (CSCO) , Micron Technology (MU) and Facebook (FB) all taking substantial losses. All the same, Netflix (NFLX) was the index’s best performer, adding over 16 percent after the company reported a stellar financial performance during its recently-ended fourth quarter.

On the NASDAQ:

Tech and financial stocks weighed heavily on the exchange, but Ariad Pharmaceuticals   (ARIA) was a standout, adding over 12 percent amid rumors that the company was a buyout candidate for Eli Lilly & Co. (LLY) .

Apple (AAPL) , meanwhile, jumped nearly one percent on news that Carl Icahn had bought yet another $500 million of the company’s shares. For more on Apple’s stock, readers are encouraged to have a look at Michael Van Dulken’s article from earlier in the day.

Our Top Stories:

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
AAPL Apple Inc. 116.65 -0.42 -0.35 15,346,605
ARIA ARIAD Pharmaceuticals Inc. 10.43 -0.35 -3.25 7,840,512
AXP American Express Company 67.30 0.52 0.78 6,223,693
CSCO Cisco Systems Inc. 30.17 0.01 0.03 10,558,055
FB Facebook Inc. 131.32 1.32 1.02 11,523,954
INTC Intel Corporation 35.22 -0.21 -0.59 13,488,589
JPM JP Morgan Chase 68.46 0.20 0.29 8,719,213
LLY Eli Lilly and Company 78.46 -0.28 -0.36 1,966,603
MGYFF Terreno Resources Corp. n/a n/a n/a 0
MU Micron Technology Inc. 16.90 -0.31 -1.80 13,869,186
NFLX Netflix Inc. 127.33 3.98 3.23 12,955,426
T AT&T Inc. 37.38 -1.27 -3.29 62,129,260
V Visa Inc. 82.52 0.02 0.02 4,631,314
VZ Verizon Communications Inc. 48.30 -0.85 -1.72 16,674,615


Emerging Growth

Relevium Technologies Inc.

Relevium Technologies Inc is engaged in the acquisition of products, technologies and businesses relating to musculoskeletal function, specifically Pain Relief, Injury Recovery and Active Performance.

Private Markets


The spark hit Jamie when he saw co-workers competing to lose weight. Instead of pizzas and subs, they were eating salads and jogging along the river. Some were sneakily leaving…

Initial State

Initial State is an Internet of Things (IoT) data analytics & data management platform company. We turn sensor and event data into information that matters by making it easy to…