U.S. Corporate news:
Netflix (NFLX 255.19, -93.42): -26.8% after losing 200,000 global paid subscribers in Q1 and estimating it will lose 2 million more subscribers in Q2. Netflix beat EPS estimates but missed revenue estimates and issued downside Q2 guidance. The company is open to offering a lower priced service with advertising.
IBM (IBM 132.18, +3.03): +2.4% after beating top and bottom-line estimates and expecting FY22 revenue growth (constant currency) at the high end of the mid-single digit range.
Procter & Gamble (PG 161.50, +2.09): +1.3% after beating top and bottom-line estimates.
Abbott Labs (ABT 121.00, +1.02): +0.9% after beating top and bottom-line estimates.
Lululemon athletica (LULU 413.20, +8.54): +2.1% after announcing a five-year growth plan to double revenue by 2026 to $12.5 billion.