Hot Stocks: NFLX and RBLX decline on downgrades, CRBU also slides and ANGI gains
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Before the opening bell, shares of Angi (NASDAQ:ANGI) trended higher as the firm has announced that a new Chief Financial Officer was appointed. Also shares of Netflix (NASDAQ:NFLX) and Roblox (NYSE:RBLX) both decline after Goldman Sachs (GS) downgraded the two stocks. Trading lower as well are shares of Caribou Biosciences (NASDAQ:CRBU), which reported initial data from a phase 1 trial of its CAR-T cell therapy CB-010.
Gainer
Home services provider Angi (ANGI) gained 2.4% in Fridayâs premarket trading session as it announced it had appointed Andrew Russakoff as CFO, replacing Jeff Pedersen. Moreover, Angi's parent IAC separately announced its monthly metrics for May. Angi's total revenue for that month grew 24% Y/Y. 
Decliners
Netflix (NFLX) has declined 4.8% in early trading after Goldman Sachs downgraded the streaming company to its lowest rating on Friday. Goldman highlighted reservations about consumer spending and competition. The financial institution cut Netflix from a Neutral to a Sell and also lowered its price target to $186, down from $265.
Along with NFLX, Goldman Sachs also slashed its rating on Roblox (RBLX) to a Sell from Neutral on Friday due to a grouping of near-term concerns. As a result, the stock has slipped 4.9%. Furthermore, a Goldman analyst lowered RBLXâs price target to $28 from $39 per share.
Caribou Biosciences (CRBU) plunged double digits to 19.7% as the stock felt pressure amid new data for its CAR-T therapy for non-Hodgkin lymphoma.
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