12:06 PM EDT, 07/19/2024 (MT Newswires) -- All three major US stock indexes were in the red late Friday morning, with the Dow Jones Industrial Average leading the way down as the week comes to a close.

In company news, a global Microsoft ( MSFT ) outage disrupted operations across multiple industries Friday, impacting flights, broadcasts, banking and healthcare systems. Cybersecurity firm CrowdStrike (CRWD) also suffered a major outage stemming from an issue with its latest update. Shares of Microsoft ( MSFT ) were down 0.5% near noon, while CrowdStrike shares were down 9.3%.

Netflix ( NFLX ) reported stronger-than-expected Q2 results late Thursday, as the streaming giant's membership growth exceeded Wall Street's expectations. Revenue increased 17% year-over-year to $9.56 billion, above the Capital IQ consensus analyst estimate of $9.53 billion. Per-share earnings rose to $4.88 from $3.29 a year ago, beating the Capital IQ consensus estimate of $4.74. In a letter to shareholders, Netflix ( NFLX ) said its global paid net additions advanced to 8.05 million in Q2 from 5.89 million in the year-ago period. The company projects Q3 revenue rising 14% year over year to $9.73 billion, trailing the Capital IQ consensus estimate of $9.81 billion. Netflix ( NFLX ) estimates net subscriber additions to be down from the year-ago period due to the first full-quarter impact from the paid-sharing initiative. The company also announced it will phase out its Basic plan to customers in the US and France after having already canceled the plan in the UK and Canada. Shares of Netflix ( NFLX ) were down 0.6%.

American Express ( AXP ) reported Q2 adjusted earnings Friday of $3.49 per diluted share, up from $2.89 a year earlier and above the Capital IQ consensus analyst estimate of $3.26. Second-quarter revenue was $16.33 billion, up from $15.05 billion in the year-ago period but below the Capital IQ consensus estimate of $16.60 billion. The company said it now expects full-year EPS of $13.30 to $13.80, up from the previous range of $12.65 to $13.15. Analysts surveyed by Capital IQ expect GAAP earnings of $12.92. Shares of American Express ( AXP ) were down 4%.

Schlumberger ( SLB ) reported stronger-than-expected results for Q2, aided by double-digit revenue growth in key international markets. The oilfield services company's adjusted earnings came in at $0.85 a share for Q2, up from $0.72 a year earlier and above the Capital IQ consensus analyst estimate of $0.83. Revenue climbed 13% year over year to $9.14 billion, topping the Capital IQ consensus estimate of $9.09 billion. Shares of the company were up 2.7%.

Travelers Companies ( TRV ) reported Q2 core earnings Friday of $2.51 per diluted share, up from $0.06 a year earlier and above the Capital IQ consensus analyst estimate of $2.00. Second-quarter revenue was $11.28 billion, up from $10.10 in the year-ago period and above the Capital IQ consensus estimate of $10.42 billion. Shares of Travelers were down 6.7%.

KKR (KKR) has emerged as the frontrunner to acquire Instructure Holdings ( INST ) in a deal that could value the education software company at around $4.7 billion, including debt, Bloomberg reported Friday, citing people with knowledge of the matter. The companies are in talks over an offer of about $24 per share from KKR, and there is no guarantee that discussions will lead to a sale, Bloomberg reported, citing the people. Shares of KKR were up 1%, while those of Instructure ( INST ) were down 8.4%.

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