The Entrepreneur Index™ Rides Netflix's Coattails to Big Stock JumpThe index closed up 2.04 percent today.
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Technology stocks led the market higher today, withNetflixbeing the biggest catalyst.
The leader in the streaming video business announced price increases for new and existing subscribers, (58 million in the third quarter), in the U.S. As it has with previous price increases, the stock jumped on the news, rising 6.52 percent -- the biggest gain on theEntrepreneur Index™today. Netflix has roughly 80 million subscribers outside the U.S. and will spend an estimated $14 billion on content worldwide this year. Its stock continues to get upgrades from Wall Street analysts and has risen 51 percent since Christmas Eve.
The rest of the tech sector jumped on for the ride. The tech-weighted Nasdaq Composite index was up 1.71 percent on the day.Alphabet Inc.(3.08 percent),Amazon.com, (3.57 percent) andFacebook, (2.45 percent) were all up smartly andAdobe Systems Inc.rose 3.33 percent. ChipmakerNVIDIACorp. (-0.34 percent), was the only tech stock of thirteen on the Entrepreneur Index™ to fall on the day. The index closed up 2.04 percent.
The Netflix euphoria didn't completely distract investors from a very mixed bag of news that includes the ongoing U.S. government shutdown, a crushing defeat on the Brexit vote in the U.K. parliament, weak German economic data and some pessimistic comments on U.S.-China trade talks by chief U.S. negotiator Robert Lighthizer. The Dow and S&P 500 indexes were up 0.65 percent and 1.07 percent respectively.
今天投资者青睐的成长型股票。医疗开发ice makerBoston Scientific Corp.was up 3.99 percent while biotech firmAlexion Pharmaceuticalsrose 3.82 percent.Teslashares clawed back much of the 3.7 percent they lost yesterday after big automakers at the Detroit auto show talked about their electric vehicle ambitions. The stock was up 2.93 percent today. Restaurant chainChipotle Mexican Grillwas also up 2.54 percent.
Ford Motor Co.potentially one of Tesla's biggest competitors, fell 1.72 percent -- the second biggest loss on the Entrepreneur Index™ today. The company is expected to announce an alliance with German carmaker Volkswagen AG sometime this week. The stock is down 34 percent in the last year.
The biggest decline on the index was suffered byBed Bath & Beyond. The specialty retailer has been on a tear since beating low expectations for the company's outlook in an earnings release several days ago. After rising 30 percent in the last four trading sessions, the stock was down 2.15 percent today.
Other notable declines on the Entrepreneur Index™ today included retailersGap Inc.(-1.66 percent) andDollar Tree Inc.(-1.32 percent).
TheEntrepreneur Index™collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time onEntrepreneur.com.
