MTStock Studio/E+ (via Getty Images)
Listen below or on the go on Apple Podcasts or Spotify
Oil has returned to gains following recent concerns in the Middle East. (00:27) Netflix (NFLX) outperforms subscribers and falls despite financial projections for double-digit growth. (01:24) Apple (AAPL) has ordered Meta's WhatsApp, Threads, to be removed from the Chinese App Store. (02:41)
This is a summary transcript of the podcast.
We are closely monitoring the situation in the Middle East.
U.S. officials confirmed to multiple news agencies that Israel had carried out retaliatory strikes against Iran.
Reports suggest that the attack on Iran was initiated by Israel, but (as of this writing) there has been no official announcement from Israel or Iran regarding this attack.
Last week, Iran launched missile attacks against Israel in apparent retaliation for Israel's April 1 attack on the Iranian embassy in Syria.
Of course, we are focused on the impact this will have on oil.
The market appears to have gotten over the initial shock. WTI crude oil (CL1:COM) rose more than 4% immediately after the news, but has broken out of its highs and is trading just 1% higher at $83 per barrel.
Brent crude oil rose more than 3% and at one point exceeded $90 per barrel. Brent is currently priced at $87 a barrel.
Netflix (NASDAQ:NFLX) rose in early after-hours trading after reporting Q1 earnings.
The company announced that it would stop reporting subscriber numbers starting in the first quarter of 2025, despite posting double-digit subscriber growth that exceeded expectations and financial forecasts.
The net addition of paid streaming users worldwide reached 9.33 million, bringing the total number of paid members worldwide to 269.6 million. The number beat the Bloomberg consensus of 4.84 million additions and was lower than the 13.12 million added in the fourth quarter, but the 16% year-over-year increase was higher for a traditionally weak quarter. .
“In our early years, when we had little revenue or profit, membership growth was a strong indicator of future potential. Today, we are generating very strong profits and free cash flow,” the company said. Ta.
Co-CEO Greg Peters said the historic “simple calculation” of multiplying the number of members by the monthly fee “is becoming less and less accurate in understanding the health of the business.” Ta.
Instead, Netflix will provide a more in-depth look in its engagement report, which is currently published every six months.
Premarket Netflix -6.35%.
The Chinese government orders Apple (NASDAQ:AAPL) to remove Meta (NASDAQ:META)'s social media apps WhatsApp and Threads from the country's app store as the US considers banning Chinese-owned TikTok. did.
Messaging apps Telegram and Signal have also been removed from Apple's (AAPL) App Store. “The Cyberspace Administration of China has ordered these apps to be removed from Chinese store shelves based on national security concerns,” the iPhone maker said. “We are obligated to abide by the laws of the countries in which we operate, even if we disagree with them.”
It also comes at a time when U.S. lawmakers are stepping up efforts to ban TikTok unless it is divested from its Chinese parent company ByteDance (BDNCE), citing national security concerns.
Chinese users with iCloud accounts from other countries can continue to download apps from the Apple (AAPL) App Store. Other META apps such as Facebook, Instagram, Messenger, and Alphabet (GOOG) (GOOGL) YouTube are still available for download. Social media app X is still available.
Other notable articles on Seeking Alpha:
Bitcoin Halving – Here’s What You Can Expect
Paramount pounces on reports that Sony is in talks with Apollo over joint bid
Trust upgrades energy sector to overweight as technology improves
In Catalyst Watch of the day,
-
Procter & Gamble (PG) will hold an earnings conference at 8:30 a.m. The company will report earnings pre-market. Colgate-Palmolive (CL) and Walmart (WMT) are the two stocks with the highest trading correlation to P&G on the balance sheet date.
Wall Street ended mixed on Thursday amid renewed bond selling and continued uncertainty over the future of monetary policy.
The Nasdaq Index (COMP:IND) fell 0.52% and the S&P 500 Index (SP500) fell 0.22%, posting a five-day losing streak for the first time since late October last year. The Dow Jones Industrial Average (DJI) rose 0.07%.
Seven of the S&P's 11 sectors finished in the green.
Now let's take a look at the market price as of 6am. Dow, S&P, and Nasdaq futures are in the red ahead of today's opening bell. Crude oil rose 0.5% to more than $83 per barrel. Bitcoin rose 5.3% to over $64,000.
In global markets, the FTSE 100 fell by 0.3% and the DAX fell by 0.5%.
Biggest move on the market before the day: Paramount Global (NASDAQ:PARA) stock soars following reports that Sony Pictures Entertainment (SONY) has entered into talks to potentially acquire the storied studio company. It soared 10%.
Today's economic calendar:
