TheStreet reported that economic growth is still bleeding red as FTSE 100, DAX 100, and CAC 40 are down almost 1% each to prices of about $6332.5, $8774.4, and $4050 respectively, and NIKKEI 225 is the only index giving some hope for the short run with an approximately 1% rise up to almost $15,073.6. This general grim overview is depressing tech stocks’ valuation and they find more obstacles in taking off the current spots. Netflix, Inc. (NASDAQ:NFLX) and Kinder Morgan Inc (NYSE:KMI) will reveal earnings later in the day and there are some 80% and 22% expected increase in earnings for the companies respectively.
“Today, after the close we’re going to get earnings from Netflix. Streaming entertainment giant expecting earnings of about $.94 a share compared to about $.52 this time last year. Reed Hastings’ company comes into the third quarter on a string of beats and now the stock is up so far this year 19%,” reported Jonathan Marino.
This spike in earnings is probably meant to keep investors satisfied while Netflix, Inc. (NASDAQ:NFLX) pursues its desired expansionary tactics. It also points at the fact that exclusive content and subscriber figures growth have severely impacted revenues. This news comes to strengthen speculations that Netflix, Inc. (NASDAQ:NFLX) is currently undervalued and that it can reach a target of $600 from its price of about $449.1.
A less fortunate story of progress, Kinder Morgan Inc (NYSE:KMI), also is expected to disclose a relatively impressive increase in earnings. The company’s stock valuation is down almost 9% for the last month and approximatively 4% year to date. So, it’s difficult to say before the reports where the current $34.50 will head to.
“Kinder Morgan, Houston Energy Company, is actually down this year despite its August mega-merger announcement. That’s attributable to four stray misses for the company. Today after the close analysts looking for $.33 a share compared to $.27 this time last year,” announced Jonathan Marino.
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