Source: Benzinga Feeds
It looks like the market is shaking off that little cold it caught yesterday. Solid earnings from IBM (NYSE: IBM ) and healthy international subscriber gains for Netflix Inc (NASDAQ: NFLX ) might have been the warm bowl of chicken soup stocks needed to recover, judging from pre-market gains in futures trading. Also, people seem convinced that China’s government has the new coronavirus in check. Even some travel stocks—which got laid up pretty badly yesterday on fears that the new coronavirus might clip travel demand ahead of the Asian Lunar New Year holiday—popped back a bit before the opening bell. Fears that people could decide to just stay home helped plaster airline, resort, and casino stocks all around the world Tuesday, and raised concerns about possible longer-term impact if the virus proves hard to fight or spreads overseas in a big way. Things turned around after yesterday’s close, helped by NFLX and IBM. While U.S./Canada subscribership growth for NFLX didn’t meet Wall Street’s estimates, it looks like people are focused on a better-than-expected international growth number.