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CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
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Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
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The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
Netflix shares slipped at the beginning of trading Wednesday after SunTrust Robinson Humphrey said the streaming giant added fewer subscribers than expected last quarter.
"Our Subscriber Tracker, through November, is pointing to 4Q sub adds slightly below consensus," analyst Matthew Thornton said. "We're lowering our year-end 2019 price target ... to reflect higher interest/discount rates and lower comparable multiples."
Netflix stock fell as much as 2.1 percent in premarket trading. The stock later recovered its losses to end the day flat at $267.66 a share.
Shares of the widely traded member of the "FANG'' tech basket lost 28 percent last quarter as investors bailed on momentum stocks amid a broader market sell-off. The stock still managed to finish 2018 up more than 30 percent.
The streaming company is also expected to soon announce the appointment of Spencer Neumann as chief financial officer, replacing long-time CFO David Wells. Netflix is reportedly bringing in Neumann, the former CFO of Activision Blizzard, to focus on the company's production finances.
SunTrust lowered its price target to $355 a share from $410 a share.
– CNBC's Michael Bloom contributed to this report.