Netflix reported its Q1 2020 earnings after the bell on Tuesday.
The company showed a huge uptick in new subscribers, which it attributed to people staying at home due to the coronavirus pandemic.
CEO Reed Hastings also praised rival Disney’s execution in launching its new streaming service, Disney+, last fall.
The latest efforts stoke renewed concern about how the company, which makes the majority of its money from targeted advertising, can get masses to trust it with their health information.
Boeing fell more than 6% to lead the Dow lower while Chevron and Exxon Mobil dropped more than 4% each. Energy, real estate and utilities were the worst-performing sectors in the S&P 500, falling more than 3% each.
Russia tested an anti-satellite missile that is capable of destroying satellites in low Earth orbit, U.S. Space Command said on Wednesday.
The Pentagon said it is tracking the test.
“Yet another example that the threats to U.S. and allied space systems are real, serious and growing,” Gen. John Raymond, commander of U.S. Space Command, said in a statement.
The company said it estimates 39.8 million active accounts as of March 31, 2020, with a net increase of 3 million since December 31. It also expects its first-quarter streaming hours to be 13.2 billion, a 49% increase year-over-year.
The Treasury Department says airlines seeking more than $100 million in grants to combat coronavirus will need to compensate taxpayers.
Talks have blown past a Monday deadline after airlines were asked for additional information.
The $32 billion in grants aim to step massive job loss in the airline industry, among the hardest-hit by the pandemic.
Banks are scrambling to process a growing backlog of applications for the U.S. program designed to funnel at least $350 billion in relief to small businesses struggling during the coronavirus pandemic.
Massive demand for the program in its first week has been met with several time-consuming bottlenecks at lenders and with the S
US weekly jobless claims double to 6.6 million The torrent of Americans filing for unemployment…
At a time when everyone needs better information, from disease modelers and governments to people quarantined or just social distancing, we lack reliable evidence on how many people have been infected with SARS-CoV-2 or who continue to become infected. Better information is needed to guide decisions and actions of monumental significance and to monitor their impact.
On March 27, Dorsey responded to the tweet of a Cash App user suggesting that the payments application could be used to distribute the United States’ forthcoming $2 trillion stimulus package.
