The markets were mixed today as earnings announcements split the major indices. The Dow 30 lost 53 as Goldman Sachs (NYSE: GS) suffered a 2.60% loss on the day. The S&P 500 gained 1, and the Nasdaq 100 added 29 thanks to a stellar earnings report from Netflix. Tomorrow investors will have their eyes glued to earnings but there will also be news on building permits which can be a market moving number.
Netflix (NASDAQ: NFLX) shares added 13.54% today, hitting new record prices after the streaming service reported earnings that shocked the street. In what was supposed to be a muted earnings announcement, Netflix reported that they had added an astonishing 5.2 million subscribers in the second quarter, which was well beyond even the companies projections. The move sent the bulls rushing to buy the stock which is now up almost 50% on the year.
Tesla (NASDAQ: TSLA) shares popped 2.71% today as news came out that the CEO, Elon Musk would officially follow up on a move he said he would do, diversifying the company's board. They are starting by adding two independent directors Ebony Media's CEO, Linda Johnson Rice and 21st Century Fox (NYSE: FOX) CEO James Murdoch. The move comes as complaints continued to mount from shareholders that too many board members had ties to Musk. Shares have gained over 50% so far this year and have earnings scheduled for August 2nd.
PayPal (NASDAQ: PYPL) had another good day today, adding 2.40% as the payment system announced it would be working with Visa (NYSE: V) to offer debit cards in Europe. The deal which was reported by the Financial Times "gives PayPal a solid hook into brick-and-mortar while Visa benefits by gaining PayPal clients." Visa also noted that the agreement also makes it easier for PayPal customers to shop wherever Visa is accepted. Shares are up over 45% for the year and have earnings scheduled for July 26th.