Reuters Insider - U.S Week Ahead: Netflix reports after receiving its latest upgrade

Wall Financial

12/10/2018 21:23

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Source: Reuters Insider

Description: Netflix releases quarterly results Tuesday after the closing
bell. Citigroup upgraded the stock to buy from neutral ahead of the report.
Plus, the latest on consumer activity and housing as reports on retail sales
and existing home sales come out. 
Short Link: https://reut.rs/2QP6QY5

Video Transcript:

Stocks cutting some of their losses, Friday, but on track for their worst week
since March. We'll keep a close eye on markets and here's what else we're
watching: we get the latest figures on consumer activity and housing.
September retail sales out, Monday, up with interest to grow at a faster rate.
They posted their smallest gain in six months in August as consumers cut back
on purchases of cars and clothing. Existing home sales released Friday
expected to fall slightly. We'll see if the higher mortgage rates are having
an impact. Next up, JPMorgan Chase, Wells Fargo and Citigroup reported double
digit profit growth, Friday, more financial giants report over the next week
and that includes Goldman Sachs out Tuesday before the opening bell. It's the
final quarter under the leadership of Lloyd Blankfein whose tenure as CEO
ended September 30. The bank's effort to reach consumers will be in the spot
light. br/  br/ One thing that is interesting in Goldman this week is what
their view is on the consumer because they've launched this consumer lending
product called Marcus and the reports earlier this week that having grown it
very quickly, they're starting to rein in the pace of growth, which people
will be looking at very closely to see if they're seeing signs that this very
healthy consumer sentiment is weakening. So all eyes will be on Goldman's news
on its consumer banking sector.  br/  br/ Shares of the Dow component have
lost 17% this year. Bank of America and Morgan Stanley also report. And we
hear from Netflix after the closing bell on Tuesday. Citi raised its rating on
the stock to 'buy' from 'neutral' on Friday. It says the company's
fundamentals remain strong and it has the opportunity to continue growing
international subscribers and to exert pricing power leverage. The broker also
called the recent selloff a chance to own a high-quality name with tremendous
upside potential. Netflix shares have gained 75% in 2018. I'm Leah Duncan and
this is Reuters. br/