Netflix Inc added more subscribers than expected in the fourth quarter, but membership growth lagged in the United States and Canada due to stiff competition and pricing changes, sending shares down 1.6% in extended trading.
The streaming giant, which had set aside $19 billion for content last year, is losing popular shows to new rivals, including 90s hit sitcom “Friends” that will move to AT&T Inc’s upcoming streaming platform HBO Max. Content from Comcast Corp, Disney, Fox and AT&T Inc-owned Warner Brothers accounted for more than half of Netflix’s viewing hours in 2019, according to Wedbush analysts. Netflix, which helped create the category of binge-watching, said on Tuesday it added 420,000 U.S. subscribers, below market estimates of 659,600, according to IBES data from Refinitiv. …read more […]
International Business Machines Corp on Tuesday reported a surprise rise in revenue, its first in six quarters, benefiting from its high-margin cloud computing business. Revenue from the cloud business, which is crucial as IBM pivots away from its established businesses including mainframe servers, rose 21% to $6.8 billion in the fourth quarter ended Dec. 31. Over the past few years, Chief Executive Officer Ginni Rometty has been trying to shift the company’s focus to the cloud through acquisitions and also by selling some of IBM’s legacy businesses. …read more […]
Fast-food chain Krystal has filed for Chapter 11 bankruptcy protection despite efforts to shore up its bottom line by closing dozens of restaurants. …read more […]
Tesla Inc has reached a settlement with Michigan to allow the electric carmaker to directly sell vehicles in the state, a person familiar with the agreement said on Tuesday.
The Fed has delivered its third rate reduction within three months. See how and when it will affect you. …read more […]
You may not have billions to lose, but you can still learn from these family misfortunes. …read more […]
Netflix leads all studios for Academy Award nominations this year with 24. But do awards really matter for the streaming company’s business? …read more […]
Boeing Co said on Tuesday it does not expect to win approval for the return of the 737 MAX to service until mid-year due to regulatory scrutiny on its flight control system.
Yahoo Finance’s Alexis Christoforus talks with Verizon CEO Hans Vestberg on the future of 5G technology at the World Economic Forum in Davos, Switzerland. …read more […]
Wall Street backed away from all-time highs on Tuesday as investors returned from a holiday weekend to face a viral outbreak in China and a downbeat global growth outlook from the International Monetary Fund (IMF).
Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver court on Tuesday, where her lawyers are expected to build on their arguments against the U.S. extradition request that they say is based a sanctions violation and not bank fraud.
Boeing Co told airlines and suppliers on Tuesday it now forecasts it does not expect to win approval from regulators for the return of the 737 MAX to service until June or July, a source briefed on the matter said.
Boeing Co shares plunged on Tuesday after the planemaker told airlines and suppliers it now forecasts it does not expect to win approval from regulators for the return of the 737 MAX to service until June or July – significantly longer than some forecasts – a source briefed on the matter said. Boeing’s best-selling plane has been grounded since March after two fatal crashes killed 346 people in five months. Boeing shares fell 5.5% and were halted for pending news. …read more […]
Troubles continue for Boeing as they are reportedly looking to secure $10 billion in loans and a New York Times report linked a Turkish Airlines crash to the company. Yahoo Finance’s Julie Hyman, Adam Shapiro, Alexis Keenan, Akiko Fujita and Jim Awad of Clearstead Advisors discuss. …read more […]
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