Netflix, Peloton, Disney and others

Check out the companies that make headlines in the afternoon trade.

Netflix. Shares in the streaming giant fell 21.7% in their worst day since July 2012. The sharp sell-off comes after Netflix admitted that streaming competition is undermining its own growth in its fourth-quarter earnings report released Thursday. Shares of other media companies offering streaming services also tumbled after Netflix posted a lower-than-expected subscriber forecast. Shares of Disney fell 5.6%, ViacomCBS fell about 6% and Discovery fell about 4%.

Peloton – Shares of the home fitness company surged 11.7% on Friday after a major crash on Thursday as investors sold shares following a CNBC report that the company was ending production of its bikes and treadmills. Then on Friday, Peloton said it was reviewing production levels and considering layoffs.

Schlumberger – Oilfield services shares fell 1.8% on Friday despite Schlumberger’s better-than-expected fourth quarter report. The company reported adjusted earnings per share of 41 cents per share, while analysts polled by Refinitiv had expected 39 cents. Revenue also exceeded forecasts. Schlumberger reported a decline in the profitability of its production systems division.

CSX – CSX shares fell 3.2% even after the rail operator beat expectations for fourth-quarter earnings. The company reported earnings of 42 cents per share, beating StreetAccount consensus by 1 cent. However, CSX reported that volume was down from the previous year.

Intuitive Surgical – Shares of Intuitive Surgical fell 7.9%, despite the company’s quarterly report beating expectations. Management said the number of procedures using its DaVinci surgical system will drop significantly in the current quarter due to Covid surges.

PPG Industries – PPG shares fell 3% even after analysts beat earnings expectations in their quarterly report. The paints and coatings maker said the fourth quarter’s increased shipments and Covid-related disruptions are expected to continue into the current quarter.

Intel. Intel shares rose almost 1% at noon but closed flat after the company announced plans to invest at least $20 billion in new manufacturing facilities outside of Columbus, Ohio. The factories are popping up as chipmakers work to speed up shipments to meet demand.

Rio Tinto – Rio Tinto shares fell about 2.2% after Serbia revoked a mining company’s lithium exploration licenses. Government leaders said the decision came after opposition from environmental groups. Rio aimed to become one of the leading manufacturers of lithium, a key component in batteries.

Under Armor – Apparel shares rose 1.4% after Citi upgraded Under Armor’s rating to buy from neutral. The firm said in a note to customers that the industry’s shift to online and direct-to-consumer shopping will improve Under Armor’s bottom line.

– CNBC’s Tanaya Macheel, Jesse Pound and Yun Lee provided reporting.