Live this hour. Plus records watch, the plus ive got it, carl the dow aiming to erase 2020 losses and the s p heading for the best august since 1986, kelly. Wow and cocacolas restructuring strategies amid plans to streamline the drink portfolio they are setting voluntary job cuts for thousands of its workers. David, it is friday, and kelly, friday and you just sort of think back to what this week has brought us, guys alltime highs, obviously news in sports in the nba, hurricane laura, the rnc and we will hear from what the president said last night tiktok, microsoft, walmart, oracle, you name it, david, but large discussion this morning about how the thing thats going to probably stick with us for the weeks and quarters to come is going to be that historic powell speech and we will have to decide whether this long end is bringing us noise or something more yeah, i mean, im glad kelly is here because im sure she was home studying every word after it took place, as you know, not my area
Just might pay off big time. We start with an earnings load on netflix, moving sharply lower in the afterhours session down by more than 10 . Netflix plummeting after it reported a miss on the bottom line in fact, its biggest earnings miss in 16 years netflix also giving far lower than expected guidance for the Third Quarter subscriber editions, forecasting the edition of 2. 5 million new subscribers in the Third Quarter, less than half the number analysts anticipated. As expected, growth is slowing as consumers get through the initial shock of covid and social restrictions. Now the chief content officer has been appointed coceo and is joining netflixs board of directors, saying in terms of the day to day running of netflix, i do not expect much to change our key executive Leadership Groups are unchanged think of teds well deserved promotion formalizing how we already run the Business Today when the call starts in an hour, well be listening for more on the impact of competition, name c
The major averages finished the day at alltime highs thanks to Quarterly Results from some retailers which brightened the mood and which well get to in a moment. There were also incremental developments and u. S. China trade talks that investored interpreted as positive. Though as you know that changes from day to day. Here are closing numbers. The Dow Jones Industrial average 55 to 28121. The nasdaq gained 15. And the s p added 6. Now to this new report on the makers of opioids. According to a walgds a criminal investigation has been opened that role drug manufacturers and distributors played in fueling the countrys opioid crisis. The news sending shares of teva mallinkrodt and Amerisource Bergen sharply lower. Dow dpoenant Johnson Johnson down a Penney Meg Tyrell has thor to. T company are facing thousands of lawsuit over the role in the opioid crisis. Today another negative headline. The drug makesers and distributors disclosed receiving subpoenas from the u. S. Attorneys. That John
Bring this situation to an end absolutely because the two individuals were showing no regard for community. These are people we do not want when around our streets drippingour streets. Reporter of men will be taken back to step for cisco and facing charges of our marinerobbery and assault. In oakland charles clifford, kron 4 news. Pam sanchez is charged with killing his individual walking on the pier. Joining us live with what prosecutors have presented. Emily . Reporter to determine if whether there is enough evidence to charge low pass sanchez with murder. There were key points presented separate you will see some from court but would not see any basis. Other than the judge because this is a highprofile case with strict orders from the judge of which can show or cannot show. Because most of the witnesses in this case our tourist, instead, the state called in investigators to see what they found from interviewing individuals of from three key points that came on of that today for repo
After years of bleeding red ink. At one point the companys founder and Ceo Jeff Bezos was the richest man in the world and then he wasnt. Thats because the stocks fell. Amazon earned 40 cents a share. Good but wall street wanted 1. 42. The big number jump 25 to 38 billion in the quarter. Shares initially fell following the results. Deidre bosa has the maybe takin away for investors. Reporter its profit engine is slowing as the Company Continues to spend big. Aws has become the most profitable business segment for the entire company but over the last now nine quarters growth has been decelerating as microsofts rival business azure has boomed. Amazon continues to invest in new markets like india and new businesses and products. That may not matter to investors. Amazon and jeff bezos are known for making bold investments even at the expense of profits. Looking forward, investors will want to know when and how those Big Investments will want to pay off especially how the whole Foods Acquis