Netflix Shares Surge on Strong Subscriber Growth

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Netflix Shares Surge on Strong Subscriber Growth. 📺 The company stock rises 5.2% premarket after adding 5.1 million new subscribers in Q3, exceeding expectations. The company forecasts even higher sign-ups for the holiday season, with "Squid Game" Season 2 set for December. Netflix continues to outperform competitors like Disney and Warner Bros in content creation. Reuters reports.

💥 ChipBoom: Nvidia and Apple supplier TSMC shares pop after quarterly profit soars on AI demand. CNBC reports.

🎥 CineMeta: Meta partners with Hollywood's Blumhouse to test out its AI movie generation model. Yahoo Finance reports.

🖥️ AIvantage: Nvidia stock rises to new record, exceeding June high as AI trade is rekindled. CNBC reports.

⬇️ NestDown: Nestle misses sales forecast, to streamline organisation. Reuters reports.

✂️ PPGLosses: PPG will lay off 1,800 employees as paints and coatings maker aims to cut costs. Yahoo Finance reports.

📡 TeleProfit: Nokia joins Ericsson in seeing signs of recovery after mixed results. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $SOBR: Sobr Safe
Total gain: 106.28%

2. $JDZG: Jiade
Total gain: 77.05%

3. $HEPS: D-MARKET Electronic
Total gain: 71.81%

4. $AKAN: Akanda
Total gain: 44.32%

5. $VTAK: Catheter Precision
Total gain: 41.79%

How New York Became the Center of American Finance

New York City is not only the financial capital of America but also of the world. While the city's financial dealings grew out of Wall Street, at the southern tip of Manhattan, large financial institutions and companies are now spread out throughout the city. Though New York's power in American finance is undisputed, it was not always this way. The very first bank and stock exchange in the U.S. were actually established in Philadelphia, PA, and for a time, it was that city, and not New York, that stood as the pillar of the American financial world.

Despite Philadelphia’s first-mover advantage, however, several geographic, economic, and political factors helped The Big Apple overtake the city of brotherly love to become the nation’s leading financial center.

📰 Read more

The closing price of the top three market percent gainers trading near or above $3 on October 17.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $PIXY: ShiftPixy
Total gain: +49.82%
The company has announced the acquisition of TurboScale in a $150 million deal, split evenly between $75 million in stock and $75 million in debt. This transaction highlights ShiftPixy's dedication to accelerating innovation through artificial intelligence and enhancing its platform capabilities by integrating TurboScale's advanced AI solutions. Benzinga reports.

2. $SFHG: Samfine Creation Holdings
Total gain: +44.98%
The stock appeared to be moving on no notable news.

3. $TWG: Top Wealth Group
Total gain: +35.83%
The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

AXP: American Express
3Q 2024
Before Market Open
Estimate: 3.280
Actual: 3.490

SFCN: Simmons First National Corporation
3Q 2024
Before Market Open
Estimate: 0.330
Actual: N/A

PG: Procter & Gamble
1Q 2025
Before Market Close
Estimate: 1.900
Actual: 1.930

Time (ET) / Report / Period

8:30 am - Initial jobless claims - October 12
8:30 am - U.S. retail sales - September
8:30 am - Retail sales minus autos - September
9:15 am - Philadelphia Fed manufacturing index - September

“In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what next big movement is going to be.”

― Edwin LefèvreSourced in:
“Reminiscences of a Stock Operator”, by Edwin Lefèvre, published in 1923