People take part in an event to hand-deliver 100,000 public comments from Californians throughout the state calling on Governor Newsom to reject proposals that penalize consumers for putting solar panels on their rooftops outside the California State Capitol Museum in Sacramento, California, on December 08, 2021. AnÃbal Martel | Anadolu […]
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The biggest travel trend of 2022: Go big, spend big
‘New sense of urgency’ to hit the road There’s a “new sense of urgency” to travel, said Stephanie Papaioannou, a vice president at the luxury travel company Abercrombie & Kent. “Guests feel they have lost two years, and older clients are concerned about having fewer healthy years left to travel,” […]
Netflix quietly admits streaming competition is eating into growth
Reed Hastings, co-CEO of Netflix, participates in the Milken Institute Global Conference on October 18, 2021 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images The latest Netflix shareholder letter included a line heard around the world: “While this added competition may be affecting our marginal growth […]
Supreme Court deals a setback to abortion providers’ bid to quickly block Texas law
Pro-choice demonstrators rally outside the U.S. Supreme Court on November 01, 2021 in Washington, DC. Drew Angerer | Getty Images The Supreme Court on Thursday denied a request from Texas abortion providers to immediately send their case challenging the state’s strict abortion law back to a lower court. Doing so […]
Yellen defends Biden’s economic record, says she sees path to slower inflation
Treasury Secretary Janet Yellen on Thursday defended the Biden administration’s economic achievements over the president’s first year in office and said that she hopes to see inflation closer to 2% by the end of 2022. She highlighted robust gains in the U.S. labor market over the last 12 months, including […]
Netflix to eliminate supermajority requirement for board changes following investor demand
Co-founder and director of Netflix Reed Hastings delivers a speech as he inaugurates the new offices of Netflix France, in Paris on January 17, 2020. Christophe Archambault | AFP | Getty Images Netflix shares are getting pummeled after hours because of the company’s weaker-than-expected forecast for subscriber growth. But investors […]
Energy Secretary Jennifer Granholm violated a stock disclosure law nine times last year
Secretary of Energy Jennifer Granholm takes questions during a media briefing at the White House in Washington, U.S., November 23, 2021. Evelyn Hockstein | Reuters WASHINGTON — Energy Secretary Jennifer Granholm violated the STOCK Act at least 9 times last year, by selling shares of stock worth up to $240,000 […]
Stocks making the biggest moves after hours: Netflix, CSX & more
In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen. Rafael Henrique | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in after-hours trading: Netflix — Netflix shares dropped 19% in extended trading after the company’s quarterly report […]
Netflix shares fall 18% on slowing subscriber growth
Netflix reported fourth-quarter earnings after the bell on Thursday. The streamer beat on both the top and bottom lines, but shares plunged more than 18% in after-hours trading, to the lowest levels since June 2020, on slowing subscriber growth. Here are the key numbers: Earnings per share (EPS): $1.33 vs […]
Dow falls 300 points, gives up earlier gains as Wall Street’s struggles persist
Scott Mlyn | CNBC Stocks moved lower on Thursday, giving up their sharp gains from earlier in the session, as Wall Street continues to struggle this year in a rising interest rate environment. The Nasdaq Composite ended the session down 1.3% at 14,154.02 after giving up a 2.1% gain from […]