Stocks making biggest moves after hours: NFLX, AMZN & more
Netflix stock sank nearly 14 percent in extended-hours trading. Netflix only added 674,000 subscribers in the US during its second quarter, well below the analysts' expectations of 1.23 million.The popular streaming service earned $3.91 billion in revenue, missing the analysts' expectations of $3.94 billion.
Shares of Amazon fell more than 1 percent in after-hours trading. The company held its annual Prime Day, but ran into trouble as its website experienced glitches. Many users trying to take advantage of Amazon's Prime Day deal only saw an error page featuring the "dogs of Amazon," while others were stuck in a loop of pages urging them to "Shop all deals."
Facebook and Alphabet were also down more than 1 percent after hours, while Twitter and Spotify both dropped more than 2 percent. Major tech companies tumbled as the Invesco QQQ Trust exchange-traded fund, which tracks the Nasdaq 100 index, dropped 0.7 percent in after hours trading.
Carbonite tumbled more than 6 percent in extended-hours trading. The cloud-storage company announced it was offering 4 million shares of its common stock. In addition, David Friend, the co-founder of the company, is selling about 520,000 shares. The company will not see any proceeds from Friend's sale.