Agile Growth Corp
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Company profile

Agile Growth Corp is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on software and software-enabled businesses such as infrastructure and application software, healthcare information technology (HCIT), financial technology, robotics/automation, and education technology. The Company has not commenced any business operations and has not generated any revenue.

Closing Price
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-0.04 (-0.40%)
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Netflix and Tesla will look to buck the earnings-slowdown trend

8:26 am ET October 18, 2021 (MarketWatch)

By Jeremy C. Owens

Earnings Watch: Big things are expected from Netflix and Tesla, while wary eyes are cast on airlines, telecoms and Intel

While earnings growth is expected to slow down appreciably for many companies from a record-breaking first half, two prominent companies are projected to put up big numbers this week.

Netflix Inc. (NFLX) and Tesla Inc. (TSLA) are scheduled to report earnings on back-to-back afternoons in the coming week, Tuesday and Wednesday respectively, and face big expectations. Their performances could help push the overall earnings trajectory for the S&P 500 index higher, with early reports already pushing initial projections for 27.5% growth higher than 30% heading into the busiest week yet of earnings season.

Netflix's stock was in the penalty box for much of the past year, after a huge surge in subscriptions early in the COVID-19 pandemic petered out in the third quarter last year. After treading water for roughly 10 months after last September's report, shares have jumped in recent months, adding more than 15%, as analysts expect nearly 50% earnings growth for the third quarter.

Optimism stems from some big original-content releases, including the biggest hit yet from the streaming-media pioneer. "Squid Games" has already surpassed all other Netflix originals in terms of first-month viewership, the company says, and there is much more on the way as the pandemic-related slowdown in content production loosens and a flood of new shows arrives in the fourth quarter, making the forecast as important as the completed numbers.

Full earnings preview: Can 'Squid Game' and videogames be game-changers for Netflix?

"We believe Netflix has entered a favorable setup following the sub-add pull-forward-induced trough," Stifel analyst Scott Devitt wrote last week, after increasing his price target on the stock to $650 from $580 in September. "We forecast accelerating sub additions through the balance of the year supported by compelling new and original releases, continued international penetration, and seasonally favorable periods for sub adds."

Tesla is expected to grow earnings by more than 85% in the third quarter, as it also finds success in Asia. After a rough start to 2021 in China, Tesla reported strong sales there in September, and continued demand in foreign markets is expected to keep the electric-car company rolling through the rest of 2021.

Tesla production had been held back by the semiconductor shortage that is affecting the entire automotive industry, but Tesla still managed to deliver more than 240,000 cars in the quarter, up from less than 140,000 in the same quarter last year. And Wedbush analyst Daniel Ives believes that the big surge in China sales in September portends big things to come.

Full earnings preview: Wall Street hopes dark clouds are 'in the rearview mirror' for Tesla

"We believe in the month of September alone, Tesla delivered roughly 150k vehicles and is a clear indicator of this green tidal wave taking hold for Musk & Co. across the board," the analyst wrote last week.

Those two will be among 80 S&P 500 companies expected to report in the week ahead, the busiest week so far this young earnings season. Here are some other results to check:

The number(s) to watch

The calls to put on your calendar

This week in earnings

Eight of the 30 Dow Jones Industrial Average components are on the schedule in the coming week, while FactSet reports 80 S&P 500 companies are expected to report. Outside the major indexes, keep an eye on Snap Inc.'s (SNAP) report on Thursday, as it should provide some insight into the online-advertising market that also drives Facebook Inc. (FB) and Alphabet Inc. (GOOGL)(GOOGL).

Dow Jones reports: Johnson & Johnson, Procter & Gamble Co. (PG), Travelers Cos. Inc. (TRV) (Tuesday); IBM and Verizon (Wednesday); Intel (Thursday); American Express Co. (AXP) and Honeywell Intl Inc. (HON) (Friday).

Don't miss: The biggest risk facing investors this earnings season is lurking just beneath the surface

-Jeremy C. Owens


(END) Dow Jones Newswires

October 18, 2021 08:26 ET (12:26 GMT)

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