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GE General Electric Co
HLNE Hamilton Lane Inc
HLI Houlihan Lokey Inc
HIG Hartford Financial Services Group Inc
HIBB Hibbett Sports Inc
HHC Howard Hughes Corp
MYOK MyoKardia Inc
MXIM Maxim Integrated Products Inc

Based in Switzerland
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Closing Price
Day's Change
-0.05 (-1.06%)
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UPDATE: Netflix's stock falls toward longest losing streak in nearly 10 months ahead of HBO Max launch

2:45 pm ET May 26, 2020 (MarketWatch)

Shares of Netflix Inc. (NFLX) dropped 3.0% in afternoon trading Tuesday, as the streaming video giant extended the pullback that appears to have been fueled by growing optimism over the easing of COVID-19-related lockdown restrictions (http://www.marketwatch.com/story/dow-futures-climb-500-points-on-recovery-hopes-and-vaccine-news-2020-05-26). The decline comes a day before the launch of rival HBO Max (http://www.marketwatch.com/story/heres-everything-coming-to-hbo-max-in-june-2020-2020-05-22), which is AT&T Inc.'s (T) new streaming service. The stock was headed toward a six-straight decline, which would be the longest such streak since the six-day stretch ending Aug. 5, 2019. Meanwhile, CFRA analyst Tuna Amobi affirmed the buy rating on Netflix's stock. Prior to the losing streak, the stock had benefited from stay-at-home measures related to the pandemic, as movie theater closures helped fuel interest in streaming services. Benchmark analyst Matthew Harrigan, who rates Netflix a sell, said last week that he was worried the stock could be vulnerable (http://www.marketwatch.com/story/netflixs-stock-falls-again-heads-for-longest-losing-streak-in-3-months-2020-05-22) to rotations away from COVID-19 safe-haven names. While Netflix's stock falls, AT&T shares gained 3.7% and the S&P 500 surged 1.9% Tuesday to top the 3,000 mark for the first time since March 5.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 26, 2020 14:45 ET (18:45 GMT)

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