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Netflix ( NFLX ) slips on downbeat Q3 revenue, subscriber additions

forecast

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SLB up after beating quarterly profit estimates

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Insurer Travelers gains on higher Q2 profit

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Futures down: Dow 0.17%, S&P 500 0.01%, Nasdaq 0.04%

(Updated at 7:05 a.m. ET/ 1105 GMT)

By Lisa Pauline Mattackal and Ankika Biswas

July 19 (Reuters) - U.S. stock index futures were

subdued on Friday as investors paused after a grueling two-day

selloff, while Crowdstrike ( CRWD ) slumped after the cybersecurity firm

identified an issue impacting Windows users amid a sweeping

global tech outage.

Major U.S. airlines ordered ground stops citing

communication issues, while some financial services firms and

banks reported system outages that disrupted their operations.

Crowdstrike ( CRWD ) lost 11.8% in premarket trading after

customers were impacted by a defect found in a single content

update for Microsoft Windows hosts.

Microsoft ( MSFT ) shed 1.3%, on track for its fourth

straight day of losses driven by a rout in tech stocks.

London Stock Exchange Group's ( LDNXF ) Workspace news and

data platform was also hit by the outage, affecting user access

worldwide and leading to disruptions across financial markets,

while Euronext said some North American stocks-based indices

were being broadcast incorrectly.

"The inconvenience caused by the loss of access to services

for thousands of people serves as a reminder of our dependence

on Big Tech such as Microsoft ( MSFT ) in running our daily lives and

businesses," said Jake Moore, global security advisor at ESET.

"Businesses must test their infrastructure and have multiple

fail safes in place, however large the company is."

The disruption comes after a grueling two sessions for Wall

Street, as investors assessed second-quarter earnings and a move

away from megacap tech stocks that have primarily driven the

equity rally in 2024.

Megacaps stocks were largely mixed, with Nvidia ( NVDA )

and Amazon.com ( AMZN ) losing around 1% each, while Apple ( AAPL )

and Alphabet were up 0.6%.

Chip stocks also struggled for direction. Micron

Technology ( MU ) and U.S.-listed shares of Taiwan Semiconductor

Manufacturing were down more than 1%, while Arm Holdings

jumped nearly 3%.

Over the past two sessions, the tech-laden Nasdaq

has fallen 3.5%, the benchmark S&P 500 lost 2.1% and the

Russell 2000 snapped a five-day winning streak on

Wednesday.

Signaling investor unease, the VIX - Wall Street's

"fear gauge" - was trading above 16 points, its highest since

late April.

Investors will also await comments from U.S. Federal Reserve

officials John Williams and Raphael Bostic for hints on the

monetary policy path later in the day.

Markets have broadly priced in a 25-basis-point

interest-rate cut from the Fed's September meeting and still

expect two cuts by the year-end according to LSEG data.

At 7:05 a.m. ET, Dow e-minis were down 70 points,

or 0.17%, S&P 500 e-minis were down 0.75 points, or

0.01%, and Nasdaq 100 e-minis were down 8.25 points, or

0.04%.

Meanwhile, other cybersecurity companies including Palo Alto

Networks ( PANW ), Fortinet ( FTNT ) and SentinelOne ( S ) rose

between 1.2% and 6.6% after the global disruption.

Among single movers, Netflix ( NFLX ) slipped 0.6% after the

streaming giant cautioned that third-quarter subscriber gains

would be lower than a year earlier and forecast third-quarter

revenue below estimates.

Intuitive Surgical ( ISRG ) climbed 5% after second-quarter

results beat estimates.

SLB gained 2% as the top oilfield services

provider beat estimates for second-quarter profit, while

Travelers Companies ( TRV ) rose 1.1% following a rise in

second-quarter profit.

(Reporting by Lisa Mattackal and Ankika Biswas in Bengaluru;

Editing by Pooja Desai and Devika Syamnath)