Home Stock Market News Shares Of Citrix (NASDAQ: CTXS) And Netflix (NASDAQ: NFLX) On The Move...

Shares Of Citrix (NASDAQ: CTXS) And Netflix (NASDAQ: NFLX) On The Move Today – Mike Swanson (01/23/2020)

Shares of Citrix (NASDAQ: CTXS) and Netflix (NASDAQ: NFLX) are on the move today to be among the top gainers in the entire S&P 500 and SPY ETF as the market heads towards the 1:00 PM EST mark. CTXS is up over 8.50% to a new 52-week high on a price explosion. You can see the action in this chart.

What is helping to drive the move is the fact that it blew through analyst earnings estimates yesterday. When they made a quarterly earnings of $1.71 per share, that beat estimates for $1.66 per share. This is a sluggish economy even for technology stocks so traders flock to such news and so do trading robots and hedge funds. Netflix is also up today as you can see from this chart.

Netflix also had an earnings announcement this week. Even though it too beat estimates questions surrounded the company about its growth in the US as most of its subscriber growth came from overseas with US growth flat. That helped fuel some selling after the announcement came, but today the stock is surging up almost 5%.

Netflix is still losing money and still dependent on debt financing in the corporate bond market to sustain itself. But a big rally to new highs for corporate bond ETF’s is helping companies like Netflix and even making the stock market more stable. The problem for NFLX stock though is when the stock market dips it tends to fall even more, because then the giant debt load it has begins to concern people.

Meanwhile oil prices are down today while the price of gold has now stabilized after its Iran crisis peak. Gold expert Keith Baron is targeting a climb for gold over $2000 for this gold bull market.