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Investors Business Daily
Investors Business Daily
Business
ED CARSON

3 Top S&P 500 Stock Market Gainers Today: IBM Rallies As Netflix Crashes

M&T Bank, IBM and HCA Healthcare were the top three S&P 500 index gainers on the stock market today. Netflix was easily the biggest S&P 500 loser on Wednesday, along with Match Group and Enphase Energy.

MTB stock leapt 8.8% to 176.35, vaulting back above its 50-day line. The Northeast-focused M&T Bank has a buy point of 187.05.

IBM stock climbed 7.1% to 138.32, gapping above its 200-day line. The Dow Jones tech giant reported a 25% EPS gain. The 8% sales gain was IBM's best in years.

HCA stock popped 5% to 275.16, breaking out past a 272.36 flat-base buy point in heavy volume. The flat base formed next to two prior consolidations going back to September. HCA earnings are due Friday.

S&P 500 Losers

NFLX stock crashed 35% to 226.19 in massive trade, hitting its worst levels since January 2018. Netflix subscribers fell by 200,000 in Q1, the first decline in more than 10 years. The streaming giant said it expects to lose 2 million customers in Q2. Netflix signaled it'll crack down on password sharing and said it's open to a cheaper, ad-supported subscription tier.

MTCH stock dived 9.9% to 84.62, just above a recent 23-month low for the parent of Tinder and Match.com.

ENPH stock plunged 8.7% to 178.53, just below its 200-day line and above its 50-day. Enphase, a solar inverter product maker, surged from the Feb. 24 market low until early April, but has been falling since then.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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