Netflix Plunges After Missing the Mark on Subscriptions

Corinthian Colleges Inc NASDAQ: COCO, Mitek Systems, Inc. NASDAQ: MITK and GTx, Inc. NASDAQ: GTXI are today's top-gaining billionaire stock picks midday. On the losing end are Netflix, Inc. NASDAQ: NFLX, Cal Dive International, Inc. NYSE: DVR and Extreme Networks, Inc NASDAQ: EXTR.

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Corinthian Colleges Climbs

The share price of Corinthian Colleges Inc ( COCO) jumped +26.87% early in the day this Thursday, though it's still trading just cents away from its 52-week low of $0.06. Billionaire investor George Soros initiated a position in the for-profit educational institution during the second quarter of the year.

Mitek Systems, Inc. ( MITK) climbed +17.19% today. Also a new Q2 Soros buy, the mobile imaging software company is still down -61.78% year-to-date.

GTx, Inc. ( GTXI), yet another new Soros pick, got a +15.67% boost this morning. Despite today's gain, the biotech firm has declined more than -65% in 2014.

Netflix Plunges

Netflix, Inc. ( NFLX) reached midday posting a loss of -22.05% for the day. The company missed the mark on its quarterly results, reported yesterday, especially in terms of subscriber growth and EPS. It did, however, meet revenue estimates, bringing in $1.4 billion. Billionaire shareholders Julian Robertson and Carl Icahn are likely paying attention to NFLX's performance, as is Tiger Global. One of 2013's biggest success stories, Netflix is actually down -4.68% YTD.

Cal Dive International, Inc. ( DVR) tumbled -18.5% today, putting its five-day loss at -69.13% despite Zacks' upgrade of its shares to neutral earlier this week. A new Q2 buy for George Soros, DVR has declined -79.14% over the past three months.

Extreme Networks, Inc ( EXTR) plummeted -18.35% - the result of a warning issued yesterday on its fiscal first quarter results. The networking and communication hardware company has been in Soros' portfolio for years, and as of the second quarter of this year, the billionaire holds 1.57 million EXTR shares. Extreme Networks is down -56.11% YTD.

The post Netflix Plunges After Missing the Mark on Subscriptions appeared first on ValueWalk.

-By iBillionaire

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