Market recap: Domino's, Netflix see stock prices tumble over shortfalls

July 20, 2019 at 5:13AM
In this Monday, July 15, 2019 photo a customer departs a Domino's location holding food items, in Norwood, Mass. Domino's Pizza Inc. reports earns Tuesday, July 16. (AP Photo/Steven Senne)
Domino’s Pizza fell far short of Wall Street forecast for a key sales measure during the second quarter. (The Minnesota Star Tribune)

Sticker shock: Netflix plunged 11% to $322.27 Thursday after saying its subscriber additions for the April-June period were far below its forecasts. The shortfall came after Netflix raised its prices. Shares closed Friday at $315.10.

Shocking forecast: Arrow Electronics fell 3.4% to $66.52 Tuesday after the company slashed its profit forecast for the second quarter because of weak demand. The electronic components company said global demand slumped and it will close its personal computer business while cutting overall costs. Shares closed the week at $67.67.

Burger boost: Blue Apron jumped 20.3% to $ 9.22 Tuesday after the meal-kit company said it will start offering recipes with Beyond Meat's plant-based food. The company will start offering the options in August. Shares closed Friday at $8.29.

Sour dough: Domino's Pizza fell 6.8% to $251.44 Tuesday after the pizza chain fell far short of Wall Street forecasts for a key sales measure during the second quarter. The company reported a 3% increase in sales at established locations while analysts had forecast a 4.6% increase. Shares closed Friday at $257.93.

Take it or leave it: Circor plunged 13% to $36.79 Monday after industrial products rival Crane threatened to end its hostile takeover bid if the company fails to engage in discussions this week. Shares closed Friday at $38.74.

Slow and steady: Galapagos surged 17.3% to $170.89 Monday after Gilead Sciences invested $5 billion in the biotechnology company. The company is still in its development stage and has no product on the market. Shares closed the week at $183.40.

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Trader Dennis Maguire works on the floor of the New York Stock Exchange, Thursday, July 18, 2019. U.S. stocks moved lower in early trading on Wall Street Thursday after Netflix reported a slump in new subscribers and dragged down communications companies. (AP Photo/Richard Drew)
Trader Dennis Maguire worked at the New York Stock Exchange after Netflix reported a slump in new subscribers. (The Minnesota Star Tribune)
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