Results. Julia ba Julia Boorstin is in los angeles and very volatile in the afterhours session. Melissa, great to have you back netflix adding 15. 7 million subscribers and thats about double what analysts expected. The company also forecasting the addition of 7. 5 million subscribers in the Second Quarter and thats more than 3 million more than analyst predictions for that Ceo Reed Hastings saying there are three main effects of coronavirus. In addition to subscriber growth temporarily accelerating due to home confinement and he says that International Revenue will be lower than previous forecast due to the dollars sharp rise and he also says due to production shutdowns and spending on contact will be delayed. Hastings also expects viewing to decline and subscriber growths it decelerate as home confinement ends and as for the impact of netflix does expect some delays and they do expect secondquarter content to be modestly impacted. Since we have a Large Library with thousands of title
Progressive minded solutions to Climate Change using technology. First, to our top story. Saying adam newman is stepping down. He will take on a new role. For more, i want to bring in Bloomberg Technology editor tom. What was the reaction to this . What this shows is that they are serious about salvaging the ipo. We saw it coming. This is something that they had been pushing for for a long time. They said the number two shareholder was also behind it. This sends a signal to investors that we are taking your concerns seriously. He has been very out there. There were concerns about his wife, rebecca. He will have less sway over the board going to three votes per share. Is stepping down and will become a nonexecutive chairman. All this says to shareholders is that we hear you, we are concerned about the governance issues that came from having him so central to this company. Even to its credit, adam newman, any email that he sent to the company, we got a copy of it and posted it on the ter
The fed gave us what we wanted, the market implodes. Dow plunging 334 points, s p plummeting and nasdaq 1. 19 down honestly, there was Nothing Shocking about fed chief jay powells statement but people dont understand how the game is played its insurance and not the start of the easing cycle. That upset everyone hoping there would be a lot of rate cuts galore including those betting the dollar would decline the fed is supposed to be cage gee about this remember the last time powell told us the longterm plans in october, the stock market crashed. Promising a series of rate hikes was a big mistake. Hes not going to make the same mistake here by promising a series of rate cuts. Hes not stupid. Of course, President Trump piled on how powell let us down. You can say that trump let us down by firing yellen who is much closer to trump and putting powell in, and enough powell bashing for heavens sakes hes on the case as there is plenty of evidence, positive news enough to befuddle some fed watc
One company will focus on hardware and services and the other are personal it is and printers. The wild weekend. The Virtual Currency plunges to its lowest level in a year. What is behind the fall. A professor who says an elite education is not worth the cost and those goals are creating a generation of religion career zombies. There is one sitting next to me this morning, olivia sterns, and erin wegraduate have a great love show graduate. We have a great show tonight. Bitcoin is follow falling on its own. Time for the newsfeed. The top is stories from around the world. Hotel, andelling a the buyer is a Chinese Insurance Company paying almost 2 billion. Hilton says it will use the money to buy other assets. Agoon bought it 42 years and will continue to manage it and the hotel will undergo a major renovation. A new report underscores the risk of a slowdown in the worlds is largest economy. On especially fell the most since 2009. German Economy Ministry blames the geopolitical risk and a
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