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Check out the companies making headlines in midday trading.
Netflix – Shares of the streaming giant tanked 21%, on pace for their worst day since July 2012. The steep sell-off came after Netflix admitted that streaming competition was eating into its own growth in its fourth-quarter earnings release Thursday. Other media companies with streaming services also saw shares fall after Netflix issued lower-than-expected subscriber guidance. Disney shares fell 5.6%, while ViacomCBS dropped about 6%, and Discovery lost roughly 4%.
Peloton – Shares of the at-home fitness company saw a roughly 11% bounce on Friday after a major wipeout Thursday, when investors sold shares following a CNBC report that the company is halting production of its bikes and treadmills. Peloton then said Friday that it's reviewing production levels and considering layoffs.
Schlumberger – The oilfield services stock fell about 2% on Friday despite a better-than-expected fourth-quarter report for Schlumberger. The company reported adjusted earnings per share of 41 cents per share, while analysts surveyed by Refinitiv were looking for 39 cents. Revenue also topped estimates. Schlumberger reported shrinking margins in its production systems unit.
CSX – CSX shares dipped 2.9% even after the railroad operator beat earnings expectations for the fourth quarter. The company posted a profit of 42 cents per share, beating the StreetAccount consensus estimate by 1 cent. However, CSX reported volume fell from the previous year.
Intuitive Surgical – Intuitive Surgical shares sunk 7% despite the company's quarterly earnings report beating expectations. Management said procedures using its DaVinci surgical system will be down significantly in the current
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