U.S. stocks survived the repercussions of the Doha oil deal that never was, which caused crude oil prices to decline. The S&P 500 managed to finish 0.7% higher on Monday, while the Dow Jones Industrial Average was just behind with 0.6% gains.
The action didn’t stop at the bell, however, as several companies were moving in after-market action. Among today’s likely movers and shakers are Netflix, Inc. (NASDAQ:NFLX), Heron Therapeutics Inc (NASDAQ:HRTX) and Harley-Davidson Inc (NYSE:HOG)
Here’s why:
Netflix, Inc. (NFLX)
Netflix stock was primed to take a big hit this morning following the company’s first-quarter earnings and updated Q2 forecast.
The company topped fiscal first-quarter expectations Monday, adding 6.7 million subscribers to beat its original forecast of 6.1 million. Meanwhile, earnings of 6 cents per share topped analysts’ expectations for 3 cents.
However, revenues of $1.96 billion for the quarter came in just shy of the $1.97 billion consensus market, and worse, second-quarter subscriber expectations were lean. The online video streaming site will add less than half as many subscribers in the current quarter compared to the first quarter globally.
The subscription base is expected to feel the effects of a $2 monthly increase to its most popular plan.
NFLX shares were on pace to start Tuesday’s trading off 10%.
Harley-Davidson Inc (HOG)
Harley shares were jumping 7% in Tuesday’s premarket action thanks to a well-rounded beat in its first-quarter results.
Earnings per share of $1.36 beat expectations for $1.29, and revenues of $1.58 billion topped consensus expectations for $1.5 billion.
That was driven by a 4.3% increase in motorcycle shipments, which totaled 83,036 for the quarter to top the company’s own guidance of 78,000 to 83,000.
HOG shares are primed to shoot up to their 200-day moving average around $49 with the morning’s gains, and year-to-date all-time highs are just a couple points above at around $52.
Heron Therapeutics Inc (HRTX)
Heron Therapeutics made waves with one of its products late Monday.
The U.S. Food and Drug Administration issued an update on its review of the company’s New Drug Application for Sustol, an extended-release injection that is designed to treat chemotherapy-induced nausea and vomiting.
The FDA “has indicated that there are no substantive deficiencies in the NDA and has begun labeling discussions with the Company,” according to a release.
a New Drug Application designed to treat nausea and vomiting induced by chemotherapy.
The medication is called Sustol (granisetron) injection, extended release. The Heron product has proven to maintain therapeutic drug levels of granisetron for at least five days with a single injection.
The FDA added that there are no noteworthy deficiencies in the NDA and the two parties have begun labeling discussions.
HRTX stock popped 14.5% in after hours trading.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
