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EARLY MOVERS: Netflix Inc shares perk up after broker upgrade but Activision Blizzard Inc takes a dive

Also in focus before the New York bell are the clothing and lifestyle firms PVH Corp and Urban Outfitters
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Netflix shares advanced before the bell after a UBS upgrade

In pre-market US deals, streaming giant Netflix Inc (NASDAQ:NFLX) saw shares add over 2.6% to $333.16 after Swiss broker UBS upgraded the company.

Analysts there lifted the stock to buy from neutral and raised the price target to $410.

After six months of under-performing, UBS reckons the media giant will see shares rise as subscriber numbers increase again.

Elsewhere, Activision Blizzard Inc (NASDAQ:ATVI), the California-based video game group, saw shares plunge 6.43% in pre-market to $48.05 after it said it was transferring publishing rights for its Destiny franchise as it splits from Bungie.

It means the firm will not include revenue, operating income or operating loss from the Destiny franchise in 2019.

PVH Corp (NYSE:PVH), the clothing firm, shares added 5.89% at $104.77 before the New York bell as its fourth-quarter and full year earnings guidance beat prior guidance.

The company sees Q4 EPS (earnings per share) of at least $1.75, which is $0.15 above the high end of company guidance announced in November and analyst consensus.

For the full year, the firm expects EPS of at least $9.50 and revenues of at least $9.57 billion, which is a beat on both from previous estimates by the company.

Elsewhere, sticking to the sector, Urban Outfitters (NASDAQ:URBN) dropped 2.49%, despite the Philadelphia-based retailer reporting record holiday sales that were mostly in line with expectations.

Retail shares got hammered yesterday, notably Macy's, after several companies announced mixed results involving holiday period sales.


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