Netflix, Inc. (NASDAQ:NFLX) and Electronic Arts Inc. (NASDAQ:EA) are among the notable performers in the market for the month of May, CNN’s Matt Egan reports.
Down 26% in March and April, Netflix, Inc. (NASDAQ:NFLX) rebounded and has risen 30% just this month. This makes it “easily the best performer in both the S&P 500 and Nasdaq 100,” Egan noted.
The performance of the Netflix, Inc. (NASDAQ:NFLX) comes after the company has increased the price of subscription to users in Canada and other territories by $1. However, unlike its earlier price increase which turned out disastrous after a loss of over 800,000 subscribers, customers knew of the impending price increase and loss was minimized.
The company also recently announced that it will soon release its service to Austria, Belgium, France, Germany, Luxembourg and Switzerland.
Company executives have also made noteworthy sales of their holdings after the rise in Netflix, Inc. (NASDAQ:NFLX) stock. General Counsel David A. Hyman sold 3,099 shares in May 23 for a total of $1,239,600.00, according to a Securities and Exchange Commission filing. CEO Reed Hastings also sold 15,238 shares in May 27 for a total of $6,118,361.76, another SEC filing reveals.
Meanwhile, Egan also noted that Electronic Arts Inc. (NASDAQ:EA) has been performing well in the month. However, unlike Netflix, Inc. (NASDAQ:NFLX), the game-maker’s performance can be traced to just a single day, he said.
Electronic Arts Inc. (NASDAQ:EA) rose 23% in May, Egan noted, bringing the company’s stock to a 52% upsurge so far this year.
On May 6, Electronic Arts Inc. (NASDAQ:EA) reported earnings that significantly beat expectations on Wall Street. Noticeable during the company’s earnings call was a very optimistic tone for the year. Furthermore, the company revealed a massive $750 million buyback plan.
Electronic Arts Inc. (NASDAQ:EA) particularly noted strong sales of titles because of the PlayStation 4 and Xbox One, new consoles from Sony Corp (ADR) (NYSE:SNE) and Microsoft Corporation (NASDAQ:MSFT). Moreover, the company noted strong demand in sports titles principally its FIFA game as the World Cup looms.