The Australian sharemarket has opened lower led down by energy and utility stocks. :
One of the stand-out events in the US in recent hours is Netflix's disappointing subscriber growth. Analysts were expecting to see it add 1.2 million US subscribers in the second quarter, but it reported just 670,000 US subscribers. This has got commentators talking about an end to the streaming bubble (which sounds like a scientific phenomenon). Globally it added 4.5 million subscribers (growth of 8 per cent), but analysts were expecting to see an additional 5.1 million customers.