Who Won and Lost on the Nasdaq This Week? Bloomberg TV Weighs In
NEW YORK (TheStreet) -The Nasdaq closed up this week by 1.4%, marking the fourth consecutive week that gains were realized. The last time the Nasdaq saw this kind of streak was back in March, Bloomberg TV's Abigail Doolittle reported.
Doolittle joined Bloomberg TV's "Bloomberg Markets" before Friday's closing bell to discuss this week's winners and losers within the Nasdaq, noting it's been all about technology.
"Microsoft, (MSFT) - Get Report the biggest point boost for the Nasdaq, is up about 5% on the week after the software giant beat quarter four estimates by 19%," Doolittle said.
Moreover, what stands out most about Microsoft is "that fact that shares are still, despite their strength this week, 5% shy of their all-time high," Doolittle said, noting the previous high back in 1999.
Additionally, one of the biggest stocks in terms of percentage performers this week was eBay (EBAY).
"eBay, up about 13% on the week, has had the best weekly performance since October 2011. In fact, eBay on this week's gain not only carved out a new record high but added $4.6 billion of market cap, as the company boasted 5.2% revenue growth," Doolittle reported.
However, her tone slightly cooled when dicussing that investors are starting to feel the stock is "over bought," noting the RSI (relative strength index) is at levels previously realized in 1998, when the stock went public.
The loser this week for the Nasdaq was Netflix (NFLX), as the streaming giant continues to struggle after its sub-par second quarter earnings report.
"Netflix is down about 13%, amazingly though we don't have to go back too far to see it's previous worst week. It came back in April of this year when the stock was down about 14%," Doolittle added.
Furthermore, she noted that this downward trend could continue for Netflix as "longer-term charts are indicating shares are dropping down in a bearish trading range, on a bearish uptrend reversal," Doolittle said.
Shares of Microsoft closed higher by 1.38% to $56.57, shares of eBay closed higher by 1.87% to $30.49, and shares of Netflix closed lower by 0.12% to $85.89 on Friday.