Biggest stock movers Friday: NFLX, ISRG, and more

Stock futures edged higher Friday morning, positioning the Dow and S&P 500 to mark their longest weekly winning streaks of 2024.

Here are some of Friday’s biggest stock movers:

Biggest stock gainers

• Netflix (NFLX) shares soared 5% after a strong Q3, with 15% topline growth and an operating income margin rate of 29.6%. Global streaming paid memberships grew 14.4% year-over-year, while free cash flow rose 16% to $2.2B, prompting Netflix to raise its full-year FCF guidance to $6.0B-$6.5B. For Q4, the streaming giant projects 15% revenue growth, with higher paid net additions and a 22% operating margin, a 5-point improvement from last year. Netflix forecasts 2024 revenue growth at the high end of 14%-15%, with an operating margin of 27%, and expects FY2025 revenue of $43B-$44B and a 28% margin.
• Intuitive Surgical (ISRG) shares rose over 6% following Q3 results that exceeded expectations. The company, known for its Da Vinci surgical systems, placed 379 machines, up from 312 in the same period last year. Net income grew ~28% Y/Y, with EPS increasing to $1.56 from $1.16. Intuitive Surgical reported no significant impact from COVID-19 on procedure volumes in the first nine months of 2024 and ended the quarter with ~$8.3B in cash, up from ~$7.3B at the end of 2023.
• Chinese stocks surged on Friday, marking their first gain in four sessions, as the People’s Bank of China initiated previously announced measures to bolster the market. The central bank introduced two programs that will inject up to 800B yuan ($113B) into the stock market. So far, 20 securities and fund firms have been authorized to access liquidity from the central bank to purchase equities. Key stocks leading the rally included Bilibili (BILI) up 8%, NIO (NIO) up 5.6%, JD.com (JD) up 5%, Li Auto (LI) up 6.5%, XPeng (XPEV) up 7%, NetEase (NTES) up 5%, and Baidu (BIDU) up 4%, among many more.