Netflix, Procter & Gamble, Intel: Stocks That Outlined the Week
By Francesca Fontana
Netflix has a gentle stream of latest subscribers. The corporate mentioned Tuesday it topped 200 million paying prospects for the primary time after including a document 37 million in 2020. The streaming big’s continued progress comes within the midst of heightened competitors from tech giants and media conglomerates. A brand new rival, ViacomCBS Inc.’s Paramount+, is slated to launch in March and can exploit a key benefit media corporations have over their tech rivals: cross-promotion. Netflix shares surged 17% Wednesday.
Microsoft is betting large on driverless vehicles. The software program big on Tuesday joined a bunch of corporations that may make investments greater than $2 billion in General Motors Co.’s driverless-car startup, Cruise. Underneath the phrases of the deal, Cruise will use Microsoft‘s Azure cloud-computing platform to assist it roll out autonomous-vehicle providers. GM mentioned Microsoft could be its most well-liked cloud supplier and assist it streamline provide chains and roll out new digital providers to prospects. In recent times, the tech big has been aggressively pushing its cloud-computing enterprise, the place it rents server capability and software program instruments to prospects. Microsoft shares rose 1.8% Tuesday.
UnitedHealth Group Inc.
Extra sufferers are returning to docs’ workplaces, taking a toll on UnitedHealth‘s well being. The guardian firm of insurer UnitedHealthcare recorded a smaller revenue within the current quarter because it noticed rising medical prices tied to Covid-19. UnitedHealth mentioned Covid-19-related prices represented 11% of health-care exercise within the quarter, and about half of the 65,000 Covid-19 admissions in the course of the quarter got here in December. The corporate additionally paid extra in medical prices to cowl insured members who sought care they’d averted or postponed earlier within the coronavirus pandemic. UnitedHealth shares fell 0.4% Wednesday.
Procter & Gamble Co.
Buyers are paying as much as maintain themselves and their properties clear. Procter & Gamble reported an 8% surge in gross sales within the newest quarter, fueled partly by demand for its high-end merchandise. The maker of Tide laundry detergent and Pampers diapers mentioned shoppers are more and more prepared to pay extra for merchandise from costly dish cleaning soap to a $300 electrical toothbrush, regardless of a troublesome economic system and excessive unemployment. A shift towards higher-end staples is very excellent news for P&G, as its merchandise are often among the many pricier gadgets in grocery shops. P&G shares fell 1.3% Wednesday.
The destiny of Donald Trump‘s Fb web page is out of Mark Zuckerberg’s fingers. The social-media big mentioned Thursday that the previous president’s Fb and Instagram accounts will stay suspended as members of its outdoors oversight board decide whether or not posts Mr. Trump made earlier than the U.S. Capitol riot violated the corporate’s group requirements and values. The unbiased panel, which has been likened to a Supreme Court docket for content material choices, is a world group of lecturers, legal professionals and human-rights advocates. Mr. Trump‘s accounts had been first disabled after he inspired protests of the election outcomes and his supporters stormed the Capitol in a Jan. 6 assault that left 5 useless. Fb shares added 2% Thursday.
The pandemic is retaining drivers off the roads and out of wrecks–and auto insurance coverage income excessive. Insurance coverage-seller Vacationers noticed revenue surge 50% in its newest quarter, fueled partly by sturdy ends in its car-insurance enterprise. Authorities stay-at-home orders and enterprise restrictions led to a dramatic discount in driving beginning final March. The variety of miles pushed has rebounded since then, however roads in lots of elements of the nation stay much less crowded as many individuals proceed to work at home. Not everybody will cheer Vacationers’s outsize income in its auto-insurance enterprise. Since final spring, consumer-activist teams efficiently pushed insurers to supply refunds and now contend that auto insurers ought to share extra of their windfall. Vacationers shares added 2.6% Thursday.
Intel‘s new chief may have so much on his plate. Incoming Chief Government Pat Gelsinger mentioned Thursday that the chip maker plans to outsource extra chip manufacturing after the corporate posted web earnings for 2020 of $20.9 billion, down from the year-earlier interval. The announcement rounded off a 12 months throughout which Intel was surpassed in market valuation by rival Nvidia Corp. and dropped by Apple Inc. as a provider for Mac chips. Whereas Intel benefited from booming demand for PCs within the work-from-home economic system, a lot of the added shopping for concerned lower-cost laptops that are not as worthwhile. Intel shares fell 9.3% Friday.
Write to Francesca Fontana at firstname.lastname@example.org
(END) Dow Jones Newswires
January 22, 2021 21:26 ET (02:26 GMT)
Copyright (c) 2021 Dow Jones & Firm, Inc.
Market information on Fintech Zoom.