Salem Radio Network News Monday, August 15, 2022


Netflix, SunPower fall; Peloton, Bank OZK rise

Stocks that traded heavily or had substantial price changes Friday:

Netflix Inc., down $110.75 to $397.50.

The streaming entertainment company delivered another quarter of disappointing subscriber growth.

PPG Industries Inc., down $4.96 to $154.74.

The paint and coatings maker warned that it is grappling with high raw materials costs and supply chain problems.

Intuitive Surgical Inc., down $23.20 to $269.53.

The surgical device maker warned investors that COVID-19 will likely continue to hurt procedure volumes.

Ecolab Inc., down $18.08 to $195.09.

The cleaning, food-safety and pest-control services company warned that supply chain disruptions and COVID-19 crimped fourth-quarter earnings.

Peloton Interactive Inc., up $2.84 to $27.06.

The maker of exercise bikes and treadmills said fiscal second-quarter revenue would meet previous estimates.

Bank OZK, up 92 cents to $48.15.

The bank’s fourth-quarter financial results beat Wall Street forecasts.

SunPower Corp., down $3.22 to $15.80.

The solar products and services company warned of a potential product defect that could result in $27 million in charges.

M&T Bank Corp., down $6.24 to $160.11.

Bond yields fell and weighed down banks, which rely on higher yields to charge more lucrative interest on loans.


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Michael Ramirez
Thu, Aug 11, 2022