While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday afternoon as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
When Netflix reports quarterly results after the bell Wednesday the most important number to watch is streaming subscribers.
Not only will Wall Street be carefully watching growth of Netflix's streaming numbers at home and abroad, the company's forecast on subscribers for the next quarter will be sure to send the stock swinging one direction or the other in after-hours trading. The key benchmarks: Hastings projected the company would add 600,000 subscribers in the U.S., for a total of 42 million at home, and 1.9 million overseas, for 22.8 million in total abroad.
Subscriber numbers are a barometer for Netflix's return on investment in original content in the face of growing competition from the likes of Amazon, which has been ramping up investment in original programming, as well as new services such as HBO Now.
Overseas, where Netflix is rolling out with a view to being accessible worldwide by the end of next year, subscriber stats tell investors how effectively the company's marketing is faring in new countries. And that success, or lack thereof, can help project what to expect from big launches, such as new Netflix operations in Spain and Italy this fall.
Analysts are looking for $1.65 billion in revenue, and earnings per share of 28 cents, two pennies more than the company's earnings guidance, according to StreetAccount.
The bull case: Morgan Stanley raised its estimates and price target for Netflix shares to $750, with a new bull case of $940, driven by higher pricing. Netflix is due for a 7-1 stock split Wednesday to address the stock's growth by 10 times since the start of 2012.
Analyst Ben Swinburne points to the fact that Netflix is seeing higher time spent per day on the service than any single broadband network. He says his outlook for Netflix monthly subscription pricing to reach $14 by 2025 is potentially still conservative. Old subscribers are grandfathered in at $8 per month.
The bear case: Netflix's earnings come on the heels of harsh criticism from hedge fund manager David Einhorn. Einhorn said that the streaming service's hit show, "House of Cards," was "scripted to compete with Ambien" and derided the stock's performance, saying "accountability is in the distant future." Meanwhile, Bespoke Investment Group points to the track record of Netflix's stock dropping in July following its second quarter earnings release.