Netflix Sinks After Outlook; Microsoft AI Pact; Alcoa Falls
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Netflix (NFLX) shares tumble after the streaming company gave a second-quarter outlook that was weaker than expected. Company Co-Founder and Chairman Reed Hastings separately announced plans to not stand for reelection to the board at its annual meeting in June.
- Stellantis is teaming up with Microsoft (MSFT) to accelerate deployment of artificial intelligence software across its cars and operations to improve customer experience. Both companies will co-develop more than 100 AI tools for areas such as customer support and predictive maintenance, they said Thursday. They’ll give a Peugeot driver better recommendations for energy‑efficient driving in cities, for example. Stellantis will also deploy AI for increased protection against cyberattacks.
- Alcoa (AA) shares fall after the aluminum company says first-quarter earnings were hurt by higher costs and operational disruptions. JPMorgan notes that shipments were also hit by vessel constraints amid weather disruptions.
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