Separately, Netflix shares were off 8% in the wake of its quarterly earnings report.
“Given that the shares were priced for perfection, it’s not surprising that the combination of a revenue shortfall and disappointing guidance for the third quarter had the shares down,” said Dougherty & Co. analyst Steve Frankel.
“By no means are the wheels coming off the Netflix bus, but the recent pricing change introduces a level of uncertainty into the model and given the stock’s [high]current multiple … we want to see how the company navigates the pricing change before moving off our neutral rating on the shares,” Frankel said in a note.
PowerShares QQQ
