After two weeks of bullish analyst reports and price target hikes, Netflix (NFLX) stock fell from its lofty perch on Thursday. In afternoon trading on the stock market today, Netflix was down 7.5% to near 113 amid a broader market selloff. The Internet television company reached a record high of 129.29 on Aug. 5. Analysts attributed the drop Tuesday to profit-taking and valuation concerns. Netflix stock has held strong in recent weeks as
Global smartphone sales last quarter rose by the slowest quarterly rate since 2013, according to market tracker Gartner, as sales in China fell for the first time, with Apple (AAPL) taking market share from Samsung. Smartphone sales rose 13.5% vs. Q2 2014, to 329.67 million units. In China, sales fell 4% as the market becomes increasingly saturated. China is the biggest market for smartphone sales, representing 30% of the Q2 total, Gartner said.
Big pharma Eli Lilly (LLY) and its partner Boehringer Ingelheim said Thursday that their diabetes drug Jardiance succeeded in lowering the risk of death from cardiovascular disease in a massive three-year study, sending Lilly stock up sharply. Detailed results are being held for a medical meeting on Sept. 17, but Eli Lilly and Boehringer did say the Empa-Reg Outcome trial, which included more than 7,000 participants in 42 countries, achieved its