Author: News Room
Investment Thesis Netflix (NASDAQ:NFLX) announced its first quarter of FY2024 results late last week; the streaming company beat quarterly earnings and revenue estimates, plus it achieved a 16% year-over-year growth in global streaming paid memberships. But, the stock is selling off after the announcement last Thursday, down ~11% over the past month, as shown below. I believe the reason behind the sell-off is investor disappointment with management’s Q2 and FY2024 guidance. Netflix’s management is guiding for 16% year-over-year revenue growth to $9.49B, which trails the consensus expectations that sit at around $49.53B. It’s not a huge miss, and Netflix would…
Last updated: April 22, 2024 12:50 EDT | 2 min read Figure CEO Mike Cagney alleged in a Saturday X post that the FTX estate is set to auction off the next lot of its long-awaited locked Solana tokens. Just got confirmation that the next round of locked #solana coins from the #FTX estate will be an auction, with exact details coming Monday. If you want in, join us. https://t.co/RuA41vgWAx — Mike Cagney (@mcagney) April 20, 2024The locked batch of Solana coins has generated intense interest from prospective buyers due to the surge in SOL prices.According to Cagney, additional details…
European officials are threatening TikTok with massive fines and a possible forced suspension this week of parts of a new spinoff app, launched this month, that regulators allege contains addictive features. The warnings target TikTok Lite, a less data-intensive version of TikTok’s main app which contains a feature that rewards users with cash for engaging with TikTok content and app features. EU officials fear the feature could be used to turn TikTok Lite users into addicts who can’t stop using the app and described it as an “experiment” on unwitting EU citizens in Spain and France where TikTok Lite has been…
Check out the companies making headlines in midday trading. Tesla , Li Auto — Tesla shares declined nearly 4%, hitting a 52-week low, following announcements of price cuts. The electric vehicle maker lowered prices for its Model 3 in China, on top of decreases in other markets, Reuters reported . Chinese manufacturer Li Auto also lowered price tags on many models, sending shares down 6%. Verizon Communications — The telecommunications giant fell more than almost 4% after posting mixed quarterly results. Verizon reported $33 billion in revenue, slightly under the $33.32 billion figure penciled in by analysts, per FactSet. The…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.When people ask Dr. Jordan Shlain to describe his medical practice, he says simply: “It’s a family office for your health.””Family offices typically have a goal of preserving wealth,” he said. “Our goal is preserving your health. After the age of 24 you’re a depreciating asset health-wise. So we aim to decrease the slope of the curve for as long as possible.”As depressing as that sounds for patients, Shlain’s…
President Joe Biden is keeping the ball rolling on student loan forgiveness, canceling a new round of loans as his administration crafts a new plan to target even more outstanding student debt. The latest round of cancelations targets $7.4 billion in student loans for 277,000 borrowers, the Department of Education said in a statement. This brings the total debt forgiven over Biden’s presidency to $153 billion. The discharges are part of the Saving on a Valuable Education (SAVE) Plan, which offers a faster route to forgiveness. “Today we are helping 277,000 borrowers who have been making payments on their student loans for…
Homeowners looking to sell this year may want to wait until June to list, when sellers tend to make the most. In 2023, homes listed in June sold for 2.3% more, according to a Zillow analysis. This equals an additional $7,700, on average, to the median sale price. Before the pandemic, May used to be the best month to list, according to Zillow. But, since 2019, June is more profitable. “The old logic was that sellers could earn a premium by listing in late spring when their home would be on the top of the pile of listings when search…
The answer is YES. Both. Here’s why. Hannah Le turns 18 this week. She’s a senior in high school choosing between college acceptance offers from Cornell and the Honors College at the University of Texas in Austin. And she’s a self-made financial literacy instructor. She has taught more than 500 elementary school children at 9 different schools through a curriculum of her design that features interactive exercises, including the following topics: Needs vs. Wants Human Capital: Skills, Education and Experience Earning and Spending Forms of Payment Types of Financial Accounts Savings and Budgeting Income, Expenses, and Profit Hannah sits with…
On GPS: Michael Douglas on being Benjamin Franklin Fareed sits down with Academy Award-winning actor and producer Michael Douglas to discuss his new role portraying founding father Benjamin Franklin on the Apple TV+ series, “Franklin.” Read the full article here
Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.Hello and welcome to the working week.Events can cement or derail elections, which is important to bear in mind this week with a couple of headline news diary happenings.Firstly, the landmark criminal trial of Donald Trump, former US president and likely Republican candidate for this November’s election, will begin with opening arguments on Monday. This is the first time a former US president has stood trial on criminal charges and follows last week’s surprisingly swift appointment of a jury. As a reminder,…
