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MarketWatch MarketPulseJan 27, 2022
Netflix stock bounces off 22-month low after Pershing Square hedge fund buys shares
Shares of Netflix Inc. bounced 4.8% in premarket trading Thursday, off a 22-month closing low in the previous session, after Bill Ackman said his Pershing Square Capital Management hedge fund bought 3.1 million of the streaming video services company's shares "beginning on Friday and over the past several days." Based on Wednesday's closing price of $359.70, which was the lowest since March 27, 2020, the shares purchased would be valued at about $1.12 billion, or about 0.7% of Netflix's market capitalization of $159.33 billion. Ackman's announcement comes after the stock had plunged 30.3% amid a five-day losing streak, highlighted by the 21.8% selloff on Friday after a disappointing fourth-quarter report and outlook. Pershing Square didn't own any Netflix shares at the end of the third quarter, according to the latest 13F filing. The stock has tumbled 45.7% over the past three months through Wednesday, while the S&P 500 has slipped 4.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Entrepreneur.comJan 26, 2022
Axis Capital (AXS) Q4 Earnings and Revenues Beat Estimates
Axis Capital (AXS) delivered earnings and revenue surprises of 57.78% and 11.17%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the...
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