Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Netflix lost paid U.S. subscribers for the first time in eight years and fell below analyst estimates for international subscriber growth.Tech Driversread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
Morgan Stanley highlighted 20 companies including Uber and American Express that it expects earnings will drive the stock price in the near-term.Investingread more
Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
Revenue of $10.24 billion exceeded the consensus estimate by almost $250 million.Financeread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
Southwest joints United and American in taking the Boeing 737 Max out of its schedules through early November with no end in sight to the federally mandated grounding of the...Airlinesread more
Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, had asked a judge to release him on a bond of as high as $100 million or more.Politicsread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
Despite a disappointing earnings report, Wall Street analysts are sticking by the stock and looking ahead to the third quarter.Marketsread more
With technological advances in the past few years making U.S. shale oil profitable at much lower levels, the united OPEC-Russia front is feeling the squeeze, said Daniel Yergin, a Pulitzer Prize–winning author and leading oil analyst.
International crude producers are trying to adapt to a new world in which U.S. shale production is profitable at $40 to $50 per barrel, he told CNBC's "Squawk Box" on Friday, a day after OPEC and non-OPEC players agreed to extend cuts in output by nine months to March 2018.
"I think OPEC is actually back in business [but] as a swing producer," said Yergin, who won the Pulitzer for his best-seller "The Prize: the Epic Quest for Oil Money and Power."
Yergin, vice chairman of consultancy group IHS, said there's been a "recalibration of costs" since June 2014, when oil prices started to sink. Three years ago, U.S. shale producers needed to see per-barrel prices much higher to competitive, he said.
"When the prices started down, there was this widespread thinking $70 to $80. But it's been so innovative. It's almost like we're looking at Shale 2.0. It's almost a different industry than it was three years ago," he said.
West Texas Intermediate crude began tanking that June from around $108 per barrel. WTI prices lost about 75 percent, plunging to under $27 per barrel by early 2016.
Prices have recovered dramatically since then but were still trading under $50 per barrel on Friday. U.S. crude sank nearly 4.8 percent on Thursday on disappointment that OPEC and the other producers weren't more aggressive in extending their output cuts.
"Next year we actually think U.S. oil production won't increase as much because they've increased so much this year," said Yergin. "I think that's the kind of viewpoint OPEC took — that they've got to run this thing into next year."
Michael Cohen, head of energy markets research at Barclays, attributed Thursday's slide to the market looking for "the icing on the cake," such as deeper output cuts or limits on exports.
"When those things weren't included, then this kind of movement happens. [But] we remain constructive on oil prices for next couple months as inventories draw down," he told CNBC in an email.