Netflix has moved to lay off about 150 employees as the streaming giant continues to confront a significant post-pandemic hangover. The cuts come as Netflix announced in an earnings call last month that it lost 200,000 global subscribers in the first quarter of the year, and that it will lose another 2 million global net paid additions over the three months ending in June, it's first major drop in more than a decade. Netflix business and shares had surged during the pandemic as people who were forced to stay at home for extended periods signed up for the streaming service in droves. Read More...
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Why Nvidia Stock Shot Higher on Tuesday
Down Thursday, up Friday, down Monday — seesawing semiconductor stock Nvidia (NASDAQ: NVDA) played true to form on Tuesday, rising once again, and this time by a pretty significant number, closing the day up 5.3%. Tuesday did start off well for Nvidia stock, with investment bank Piper Sandler saying it is “moving to a more positive stance” on semiconductor stocks in general, after making some pessimistic comments about the sector two weeks ago. On the one hand, rumblings of weakness in PC sales and worries over whether GPU demand can hold up in the context of a crypto sell-off, combined with more general concerns about rising interest rates and inflation, have investors feeling nervous about semiconductor growth estimates.
