Month: April 2022
Biden administration will appeal ruling that lifted Covid mask mandate on travel
An American Airlines worker assists passengers Don Wolfe and Sarah Curtis, of Huntsville, Alabama, after the Biden administration announced it would no longer enforce a U.S. coronavirus disease (COVID-19) mask mandate on public transportation, following a federal judge’s ruling that the 14-month-old directive was unlawful, at Ronald Reagan Washington National Airport in Arlington, Virginia, April […]
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Streaming stocks slide after Netflix says it is losing subscribers
Reed Hastings, Co-CEO, Netflix speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S. October 18, 2021. David Swanson | Reuters The stock prices of streaming video companies fell in extended trading on Tuesday after Netflix released earnings that showed the sector leader lost subscribers for the first time in more than […]
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S&P 500, Nasdaq futures fall as Netflix shares tank on disappointing results, outlook
Stock futures dipped in overnight trading as investors digested disappointing Netflix earnings and looked ahead to a new batch of companies set to report Wednesday. Futures on the Dow Jones Industrial Average fell 40 points. or 0.12%. S&P 500 futures dipped 0.4% and Nasdaq 100 futures sank 0.9%. Shares of Netflix plummeted 25% in extended […]
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Netflix is exploring lower-priced, ad-supported plans after years of resisting
In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen. Rafael Henrique | SOPA Images | LightRocket | Getty Images After years of resisting advertisements on its streaming service, Netflix is now “open” to offering lower priced tiers with ads, co-CEO Reed Hastings said Tuesday. Hastings has long […]
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Sanctioned Russian bank founder Oleg Tinkov condemns ‘insane’ Ukraine war, calls on West to give Putin face-saving exit
Russian business tycoon Oleg Tinkov attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 7, 2019. Maxim Shemetov | Reuters Sanctioned Russian digital bank founder Oleg Tinkov on Tuesday blasted his nation’s “insane” war against Ukraine and called on Western nations to give Russia’s leader Vladimir Putin “a clear exit to […]
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2 men accused of impersonating DHS agents hit with weapons charges in new indictment
Arian Taherzadeh, sketch from detention hearing for the two men charged with impersonating DHS agents. Source: Bill Hennessy Two Washington, D.C., men accused of impersonating federal agents were hit with weapons charges Tuesday in a new grand jury indictment. The men, Arian Taherzadeh, 40, and 35-year-old Haider Ali, previously were charged in a criminal complaint […]
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‘Don’t fight the U.S. consumer’ — Bank of America CEO says spending is healthy despite roaring inflation
Bank of America CEO Brian Moynihan told CNBC’s Jim Cramer on Tuesday that Americans are spending heartily, even as inflation continues to roil the economy. “In the month of March ’22 versus March ’21, the consumer … spent about 13% more than they did last year,” Moynihan said Tuesday in an interview on “Mad Money.” […]
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Fed’s Bostic expresses caution about the pace of interest rate hikes
Atlanta Federal Reserve President Raphael Bostic on Tuesday expressed concern about the impact that rate hikes could have on the U.S. economic recovery, saying the central bank shouldn’t move so fast that it chokes off growth. Bostic did not commit in a CNBC interview to what pace the Fed should take in increasing benchmark rates. […]
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Trump announces rally with Nebraska gubernatorial candidate accused of groping GOP state senator, other women
Former President Donald Trump on Tuesday announced a rally in Nebraska featuring Republican gubernatorial candidate Charles Herbster, whose campaign was shaken less than a week earlier after multiple women accused him of groping or inappropriate touching. Herbster has denied the allegations. Aside from Trump, Herbster is the only person so far slated to speak at […]
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Value investor Bill Nygren says he still believes in Netflix
The Oakmark Funds portfolio manager said Netflix still looks like a good bet despite a big subscriber miss in the first quarter. Source
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