President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Netflix shares jumped nearly 4 percent in Friday's premarket after multiple analysts upgraded the video-streaming giant.
Raymond James' Justin Patterson upgraded the stock to strong buy from outperform. He also hiked his price target on Netflix to $450 per share from $435, implying a 38 percent surge from Thursday's close.
"Netflix is approaching a profit inflection," Patterson said in a note Friday. "Coupled with positive app/search data and a solid content slate, we believe there is an upward bias to 2020E Revenue and EPS."
"Given underperformance in 2H18, vs. traditional media, we believe the combination of positive revisions and emerging signs of long-term profit potential will yield share price outperformance," Patterson added. He also noted the high viewer numbers from the movie "Bird Box," and pointed to "Netflix's advantages in film; convenience, cost, and global distribution."
Netflix also received an upgrade at UBS after the bell on Thursday, with analyst Eric Sheridan hiking his rating on the stock to buy from neutral. Sheridan also raised his price target on the stock to $410 from $400, implying a 26 percent upside.
"After six months of stock underperformance & key debates emerging about competition, margins & [free cash flow], we think these debates are better understood by investors and reflected in the current stock price," Sheridan said in a note. "With content spend now at a scale of the major media companies and titles continuing to demonstrate outsized marketplace success, we see the moat around NFLX's global positioning widening and its long-term secular winner status remaining intact."
The upgrades from Raymond James and UBS come after a massive surge in Netflix. Since Dec. 24, the stock is up more than 38 percent.
Netflix has also outperformed the other members of the popular "FAANG" trade, which is made up of Facebook, Amazon, Apple, Netflix and Alphabet. Facebook is up more than 16 percent since Christmas Eve, while Amazon is up 23 percent. Apple and Alphabet, meanwhile, are up less than 10 percent in that time.
Benjamin Swinburne, a Morgan Stanley analyst with an overweight rating on Netflix, said share prices should continue to rise as the company keeps growing in overseas subscribers. "We believe Netflix's opportunity comes from the nearly $500bn global TV market, of which total subscription OTT still represents less than 5% of revenues," he said.
Swinburne added: "The shift toward life as a vertically integrated streaming business is accelerating, evident in a declining level of licensing obligations to 3rd parties and a ramp in spending on originals.This should translate into 1) a deeper moat, 2) greater operating leverage, and 3) meaningful FCF long-term."
—CNBC's Michael Bloom contributed to this report.