Today in the Market (1/19/2023)

Good Evening! As investors dissected the most recent batch of economic data, Fedspeak, and the beginning of earnings season for corporate tech giants, U.S. stocks closed lower on Thursday.

The S&P 500 & the Dow Jones decreased by 0.76%, while the Nasdaq Composite fell by 0.96%.

THE NUMBERS ARE IN!

Netflix (NFLX) reported financial results for the fourth quarter that showed a miss on the bottom line while subscriber numbers exceeded expectations.  Here are Netflix’s fourth-quarter results compared to the consensus Wall Street forecast, as compiled by Bloomberg:

  • Revenue: $7.85 Billion vs. $7.85 Billion expected
  • Earnings Per Share: $0.12 per share vs. $0.58 per share expected  
  • Subscribers Additions: 7.66 Million vs. 4.5 Million expected

What else? Reed Hastings relinquishing his co-CEO position attracted investor interest. Greg Peters, the current COO, will assume the role and serve alongside Ted Sarandos, the current co-CEO.

It is up in the air. Other questions include whether Netflix will slow its $17 billion content spending and whether the company will pursue additional mergers and acquisitions with WWE on the market.

GOING ONCE, GOING TWICE, SOLD!

Statue of the platform's famous bird logo

The social network corporation Twitter began the year 2023 by auctioning off 631 items from its San Francisco headquarters, which was completed yesterday afternoon. Some fascinating facts:

  • A bird statue sold for $100,000, which was the most costly item in the auction.
  • This is the most popular auction that Heritage Global has ever staged, which previously hosted an Enron sale, with over 20,000 registered bidders.

Is there any reason? Well… let’s look at how the company is doing… Musk said in December that Twitter was projected to lose $3 billion net annually when he purchased the firm in October, while Platformer recently revealed that the company’s daily income had decreased by 40%.

What has Musk done to try and fix it? Musk’s strategy for conserving money includes dramatic steps, such as laying off almost 50% of employees and not paying rent, as well as lesser actions, such as this auction and concluding there is no such thing as a free (business) lunch.

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?