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Shares making the most important strikes noon: Netflix, Peloton, Disney, and extra

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Check out the companies making headlines in midday trading.

Netflix — Shares of the streaming giant plunged 21% for its worst day since July 2012. The sharp sell-off came after Netflix admitted in its fourth-quarter earnings release on Thursday that streaming competition was hurting its own growth . Other media companies with streaming services also fell after Netflix released lower-than-expected subscriber forecasts. Disney shares fell 5.6%, while ViacomCBS lost about 6% and Discovery lost about 4%.

Peloton — Shares of the at-home fitness company rallied about 11% on Friday after a major crush on Thursday as investors sold shares following a CNBC report that the company was ceasing production of its bikes and treadmills . Peloton then said Friday it was reviewing production levels and considering layoffs.

Schlumberger – Oilfield services stock fell about 2% on Friday despite a better-than-expected fourth-quarter report for Schlumberger. The company reported adjusted earnings per share of 41 cents per share, while analysts polled by Refinitiv were expecting 39 cents. Revenue also exceeded estimates. Schlumberger reported shrinking margins at its production systems unit.

CSX — CSX shares fell 2.9% even after the railroad operator beat fourth-quarter earnings expectations. The company posted earnings of 42 cents per share, beating the StreetAccount consensus estimate by 1 cent. However, the volume reported by CSX was down year-over-year.

Intuitive Surgical – Shares of Intuitive Surgical fell 7% despite the company's earnings report beating expectations. Management said procedures involving its DaVinci surgical system will decline significantly in the current quarter due to Covid flare-ups.

PPG Industries — PPG shares fell 1.7% even after beating analysts' earnings expectations in its earnings report. The paints and coatings maker said the increased supply and Covid-related disruptions seen in the fourth quarter are expected to continue in the current quarter.

Intel – Intel's shares rose nearly 1% after the company announced plans to invest at least $20 billion in new manufacturing facilities outside of Columbus, Ohio. The facilities come as chipmakers work to accelerate supply to meet demand.

Rio Tinto – Rio Tinto shares fell about 2% after Serbia revoked the mining company's lithium exploration licenses. Government leaders said the decision was made after opposition from environmental groups. Rio's goal was to become one of the leading producers of lithium, a key component in batteries.

Under Armor – The apparel stock rose 2.8% after Citi upgraded Under Armor to buy from neutral. The company said in a note to customers that the industry's shift to online and direct-to-consumer shopping would improve Under Armor's profit margins.

– CNBC's Tanaya Macheel, Jesse Pound and Yun Li contributed coverage

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