TECH STOCKS: Netflix Losses Stand Out As Techs Swoon

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Big losses from Netflix Inc. stood out in the tech sector Thursday following the online-streaming video company's earnings results, which included a weaker-than-expected number for new subscribers.

Investors also prepared themselves for what was expected to be new iPads from Apple Inc. (AAPL) and Google Inc's (GOOGL) latest quarterly results, set for after the close of trading.

But all eyes were on Netflix (NFLX), as its shares plunged 23% to $344.13. Late Wednesday, Netflix said it added 3.02 million new subscribers during the quarter, well short of its forecast of 3.69 million new subscriber additions. Netflix said the primary cause of its shortfall was delayed reaction to a $1-per-month price increase it implemented in May.

(Read more about what Netflix had to say about its results: http://blogs.marketwatch.com/thetell/2014/10/15/new-subscribers-to-get-attention-with-netflixs-results-live-blog/.)

Netflix's report came on the same day that Time Warner Inc.'s (TWX) HBO network said it would launch a standalone video-streaming service next year.

Apple (AAPL) shares were off 1.5% at $96.14 ahead of an event at the company's Cupertino, Calif. headquarters. Apple is widely expected to show off new models of iPads and some new Mac computers.

Google Inc. (GOOGL) fell by 1.6% to $532 in advance of the company's third-quarter earnings report.

EBay Inc. (EBAY) fell 4% to $48.20 a share after the e-commerce giant on Wednesday reported third-quarter earnings that topped expectations, but sales that fell short of forecasts.

The tech-heavy Nasdaq Composite Index (RIXF) was off by 1% at 4,171.

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