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From left: Fed officials Jerome Powell, Lael Brainard, and John Williams ponder the great outdoors during a break at the economic symposium at Jackson Hole. David Paul Morris/Bloomberg Text size Grand Teton National Park has a stark warning for visitors to the Wyoming mountain oasis. “Bears are active,” it says on its website. “Travel in … Read more
It will be a busy week on both the micro and macro fronts. Second-quarter earnings season ramps up, as more than 150 S&P 500 firms report, including Big Tech. The Federal Reserve’s policy committee will announce an interest-rate decision on Wednesday afternoon, and economists will get a look at a bevy of new data. Wednesday will … Read more
Text size Uncredited U.S. stock and bond markets will be closed Monday for Memorial Day. A handful of major companies report later this week, with the economic-data highlight being jobs Friday. HP and Salesforce . com will report on Tuesday, followed by Chewy, GameStop , and Hewlett Packard Enterprise on Wednesday. CrowdStrike Holdings , Hormel Foods , Lululemon Athletica , … Read more
Text size Dreamstime Shares of fuboTV were plummeting on Friday after the sports streaming service slashed its guidance for North America. For the full year, fuboTV (ticker: FUBO ) expects to generate between $1.02 billion to $1.03 billion in revenue in North America, with 1.465 million to 1.485 million subscribers. FuboTV previously had predicted that … Read more
Apple is the last FAANG standing—and its earnings report this coming week could go a long way toward determining if the stock market bounces back or slides even further. As bad as this year has been for the stock market, it’s been even worse for the original FAANGs. While the S&P 500 has fallen 10.4% … Read more
Text size Henrik Jonsson/Dreamstime.com Netflix stock was slumping Wednesday after the streaming giant posted disappointing first-quarter earnings, prompting a flurry of price target cuts and critique from analysts. Netflix (ticker: NFLX ) lost 200,000 subscribers in the quarter, well below its guidance for 2.5 million net adds. The streaming service would have added 500,000 users … Read more
After an unprecedented downturn in subscriber growth in the first quarter, Netflix executives are eyeing the millions of people using other subscribers’ accounts as a way to reverse the streaming service’s current trajectory. Netflix NFLX, +3.18% executives said Tuesday that the service lost 200,000 paid subscribers on a net basis in the quarter, the first … Read more
Shares of fuboTV Inc. were off 1% in after-hours trading Wednesday after the streaming company delivered revenue ahead of what it had been expecting when it delivered preliminary results a month earlier but also issued a mixed outlook. The company reported a fourth-quarter net loss of $112.0 million, or 76 cents a share, compared with … Read more
Text size ViacomCBS is changing its name to Paramount Global. Dreamstime ViacomCBS reported a very solid quarter of streaming-subscriber gains on Tuesday, but that growth didn’t come cheaply. The company ramped up spending on content and marketing for its Paramount+ and other services, depressing profits in the fourth quarter. Legacy TV and advertising businesses plugged … Read more
Text size Netflix co-founder and co-CEO Reed Hastings just made his first purchase of the company’s shares on the open market. Henrik Jonsson/Dreamstime.com Netflix ‘s stock has slumped in 2022, and co-founder and co-CEO Reed Hastings disclosed that he bought $20 million of shares of the streaming giant this past week. Netflix stock (ticker: NFLX) … Read more