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Stocks Move on Earnings, Upgrades and Share Structure Changes

  • Visa stock down over 2% after announcing plans to change share structure to release transfer restrictions on Class B stock

  • Semtech stock up 7% after beating Q2 earnings expectations despite weak Q3 guidance

  • Penn Entertainment shares rally 6% as Deutsche Bank initiates short-term catalyst call to buy, citing inexpensive valuation

  • Netflix shares slip around 2% as CFO cautions ongoing writers' strike is bad for business and ad-supported tier won't boost revenue in short term

  • Etsy stock rises nearly 3% after upgrade to outperform at Wolfe Research on improving consumer spending and margins

cnbc.com
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