Netflix, Nordstrom, Bed Bath & Beyond

Netflix (NFLX)

Netflix shares went up after releasing its quarterly results and announcing co-founder Reed Hastings is stepping down as chief executive officer, leaving the position to Ted Sarandos and Greg Peters.

Sarandos is already co-CEO of the streaming giant.

Netflix’s quarterly revenue came in at $7.85 billion versus a consensus estimate of $7.86 billion and earnings per share of 12 cents vs. Wall Street expectations of 42 cents. The streaming platform added 7.66 million subscribers, topping Wall Street estimates of 4.5 million.

north current (JWN)

Nordstrom shares fell after the high-end retailer lowered its full year profit outlook to $1.50-$1.70 per share from $2.30 to $2.60.

“The holiday season was highly promotional, and sales were softer than pre-pandemic levels,” said CEO Erik Nordstrom in a company update on holiday shopping results.

Net sales fell 3.5% in the nine weeks ending December 31st.

Nordstrom also announced its chief merchandise officer, Teri Bariquit, will retire and a search for a successor is underway.

Bed Bath and Beyond (BBBY)

The struggling retailer announced that it received a notice from The Nasdaq Stock Market staying the company is not in compliance with continued listing requirements because it has not yet filed its quarterly results with the Securities and Exchange Commission for the period ending November 26, 2022.

The notice “has no immediate effect” on the listing or trading of Bed Bath & Beyond’s stock, according to the company’s 8-K filing.

Bed Bath & Beyond said it “continues to work diligently to finalize its Quarterly Report” and plans to file as promptly as possible to regain compliance with the listing rule.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

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