Uncertainty over the timeline and execution of the United Kingdom's exit from the European Union left markets rattled. The S&P 500 pulled back from gains achieved last week in what was its best five-day performance of the year. Delta (DAL) cut its profit margin forecasts for its June quarter. The airline pointed to a five percent decline in passenger revenue last month and the higher cost of fuel as reason for the weaker-than-expected quarter. Harley-Davidson (HOG) declined, giving back much of the gains achieved on Friday. Shares had surged on speculation of a possible takeover deal from private-equity firm KKR in the pipeline. Netflix (NFLX) was downgraded to HOLD from BUY at Needham. The firm said exposure to Europe should either accelerate subscriber churn or slow subscriber growth.
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