{"id":18034,"date":"2023-10-19T12:28:23","date_gmt":"2023-10-19T12:28:23","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/netflix-positive-earnings-report-causes-shares-to-spike\/"},"modified":"2023-10-19T12:28:25","modified_gmt":"2023-10-19T12:28:25","slug":"netflix-positive-earnings-report-causes-shares-to-spike","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=18034","title":{"rendered":"Netflix Positive Earnings Report Causes Shares To Spike"},"content":{"rendered":"
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This is a published version of the <\/em>Forbes Daily newsletter<\/em><\/strong>, you can sign-up to get Forbes Daily in your inbox <\/em>here<\/em>.<\/em><\/p>\n

Good morning,<\/p>\n

Our society is obsessed with \u201chustle culture,\u201d<\/strong> the idea that the more you work, the more successful you will be. Even if that means loading up on caffeine and depriving yourself of sleep.<\/p>\n

But the years since the onset of the pandemic have marked a shift, where many are choosing to place more value on work-life balance. While hard work is important, true productivity is about working toward a clear goal\u2014not just hustling for the sake of hustling.<\/p>\n

Try to tune out the noise from social media, prioritize your most critical tasks and, most importantly, schedule time for rest. As the saying goes: work smarter, not harder.<\/p>\n

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BREAKING NEWS<\/strong><\/h2>\n

The Biden Administration announced it would ease sanctions against Venezuela’s oil and gas sector, a move that could<\/strong> shore up global supply<\/strong> after the country\u2019s leader, Nicolas Maduro, reached a deal with opposition political leaders for the country\u2019s presidential elections in 2024. The Treasury Department said it issued a six-month license enabling transactions involving Venezuela\u2019s oil and gas sector, which will enable the country to produce 200,000 additional barrels of crude oil per day, according to analysts cited by Bloomberg.<\/p>\n

Pfizer will charge health insurers as much as $1,390 for a five-day course of its Covid-19 treatment Paxlovid<\/strong>, a price that comes as the drug\u2019s distribution changes hands from the federal government to Pfizer\u2019s commercial business. The company agreed last week to take back Paxlovid inventory purchased by the federal government and reduced its 2023 Paxlovid sales forecast to $1 billion from $8 billion.<\/p>\n

BUSINESS + FINANCE<\/strong><\/h2>\n

The Treasury Department imposed sanctions against 10 members and financial facilitators of the terrorist group Hamas in response to the group\u2019s \u201cbrutal and unconscionable massacre\u201d of Israeli civilians and children, as it tries to root out Hamas\u2019 sources of revenue <\/strong>across the region. Those sanctioned include individuals who manage Hamas\u2019 investment portfolio across Gaza, Algeria, Sudan, Turkey and Qatar, the operator of a Gaza-based virtual currency exchange that trades in bitcoin, and a Qatar-based financial facilitator with ties to Iran.<\/p>\n

Conservatives are investing millions to build what they\u2019re calling a \u201cparallel economy\u201d in an effort to fight \u201cwoke\u201d companies<\/strong>, creating alternate media and entertainment enterprises that cater to conservative audiences. Helping fuel the so-called parallel economy is PublicSq., a rapidly growing online marketplace for companies that promote conservative values.<\/p>\n

TECH + INNOVATION<\/strong><\/h2>\n

Tesla posted worse than anticipated financial results last quarter as Elon Musk\u2019s electric vehicle titan grapples with slowing growth.<\/strong> Though the stock has been one of the S&P 500\u2019s top five performers in 2023, the company\u2019s 9% year-over-year revenue growth was its weakest since 2020\u2019s second quarter. Shares declined 5% during Wednesday\u2019s trading session.<\/p>\n

White supremacist \u201cActive Club\u201d recruitment videos have amassed millions of views on TikTok, according to a Forbes<\/em> review, and it\u2019s not the only social media company that has struggled to control violent far-right groups<\/strong> in recent years. But while TikTok removed a number of videos using Active Club hashtags after receiving a request for comment from Forbes<\/em>, at the time of story publication, the hashtags in question still surfaced numerous videos connected to the Active Club movement. Searches on Facebook and Instagram did not return such recruitment videos.<\/p>\n

MONEY + POLITICS<\/strong><\/h2>\n

Rep. Jim Jordan (R-Ohio) lost a second round of voting in the House of Representatives for the next Speaker, leaving the chamber on hold<\/strong>. A group of Democrats and moderate Republicans are pushing to temporarily expand acting Speaker Patrick McHenry\u2019s (R-N.C.) authority in an effort to move on foreign funding and avert a government shutdown.<\/p>\n

MORE: <\/em>Rep. Mariannette Miller-Meeks (R-Iowa) said Wednesday she received \u201ccredible death threats\u201d after voting against Jordan for House speaker.<\/p>\n

Israel approved humanitarian aid from Egypt to Gaza on Wednesday after pressure from the U.S. and other countries, shortly after President Joe Biden\u2019s arrival in the country. Israel will allow \u201cfood, water and medicine\u201d for civilians in the southern Gaza Strip<\/strong> \u201cas long as these supplies do not reach Hamas,\u201d according to a statement from Prime Minister Benjamin Netanyahu\u2019s office, but he continued to say Gaza will not receive any humanitarian aid from Israel until its hostages are returned, Haaretz<\/em> reported.<\/p>\n

SPORTS + ENTERTAINMENT<\/strong><\/h2>\n

Netflix shares spiked after the streaming company beat Wall Street expectations for profit and user growth during the third quarter, bringing its global paid subscriber base to a record 247.2 million. <\/strong>The company announced in its earnings release it will increase prices for its basic and premium non-ad tiers from $9.99 and $19.99 to $11.99 and $22.99, respectively.<\/p>\n

The NFL extended commissioner Roger Goodell\u2019s contract through March 2027, an extension expected to potentially be \u201cthe most lucrative deal ever given to any commissioner<\/strong> in any sport,\u201d ESPN reported. Under Goodell\u2019s tenure, he has secured media rights and streaming deals, and the average NFL team\u2019s valuation has continued to increase. But he\u2019s also had to contend with controversies like concerns over concussions and the safety of players, and the rise of activism among players like Colin Kaepernick.<\/p>\n

SCIENCE + HEALTHCARE<\/h2>\n

Amazon will begin delivering prescriptions<\/strong> for some Texas-based customers by drone as the company expands its drone delivery service and prepares to launch in other markets. Residents of College Station, Texas will be able to request more than 500 medications and receive them within an hour of placing their order with Amazon Pharmacy, the company said.<\/p>\n

TRAVEL + LIFESTYLE<\/strong><\/h2>\n

Shares of United Airlines slid nearly 10% to a 12-month low despite reporting quarterly results that surpassed Wall Street\u2019s expectations as the airline warned about the impact of macro factors<\/strong> like war, as well as rising energy and labor costs. United expects to hit the high end of its profit range projections for the fourth quarter, should flights to Tel Aviv resume in November, and come in at the low end if the flights are suspended through year\u2019s end, reflecting the company\u2019s outsized exposure to the war between Israel and Hamas.<\/p>\n

DAILY COVER STORY<\/strong><\/h2>\n

Closed End Funds: How To Find Bargains And Avoid Disasters<\/h3>\n

TOPLINE <\/strong>A closed-end investment company is a peculiar beast.<\/strong> Unlike funds that are open-end or exchange-traded, a closed-end does not have any mechanism for liquidating the holdings of departing customers. Its shares trade in the second-hand market, with prices, set by supply and demand, that can veer far away from their asset value.<\/p>\n

A fund selling with a \u201c15% off\u201d sticker is not the same sort of thing as a discounted kitchen appliance. If you were prepared to buy the dishwasher at full price, a 15% sale is money in the bank.<\/p>\n

Not so with a fund. Availability of a discount on it doesn\u2019t leave you better off unless something happens to turn the fund\u2019s portfolio into cash for you. That could be a liquidation of the fund, an uncommon occurrence, or else a payout from the fund.<\/p>\n

Most of the closed-end funds out there are trading at discounts. Only a few are genuine bargains<\/strong>. These are the ones that combine a discount with two other things: distributions of cash and reasonable expense ratios.<\/p>\n

There is, in fact, a simple formula<\/strong> that relates three variables\u2014discount, distribution rate and expense ratio\u2014to tell you when a closed-end is worth a look<\/strong>. Forbes<\/em> looked at the 15 best buys for closed-end funds by cranking that formula into a database of closed-ends available from Ycharts, an online investor resource.<\/p>\n

Meanwhile, the worst buys are funds that combine stiff expenses, a share price above net asset value and lavish payouts.<\/p>\n

MORE <\/strong>Confessions Of A Closed-End Fund Bargain Hunter<\/p>\n

FACTS AND COMMENTS<\/strong><\/h2>\n

Long-term exposure to air pollution during and after pregnancy raises the chances a woman could face postpartum depression, a study published Wednesday suggests. It\u2019s the latest research showing how prolonged exposure to air pollution can negatively affect mental health<\/strong>:<\/p>\n

340,000:<\/strong> The number of women researchers analyzed who had births between January 1, 2008 and December 31, 2016<\/p>\n

Nine: <\/strong>The percentage of mothers who experience postpartum depression, one of the most common childbirth complications<\/p>\n

Up to a year: <\/strong>The amount of time that postpartum depression can last, according to the Mayo Clinic<\/p>\n

STRATEGY AND SUCCESS<\/strong><\/h2>\n

Conflict in the workplace is ubiquitous, but it can be especially difficult to express a difference-of-opinion to your boss<\/strong>. <\/strong>Strategies for respectfully disagreeing include: setting up a private meeting in advance when your boss is not dealing with a crisis, backing up your argument with facts, and being passionate\u2014but not overly emotional. Listen to what your manager has to say and be flexible, not adversarial.<\/p>\n

QUIZ<\/strong><\/h2>\n

If the U.S. and EU can\u2019t make progress on a trade agreement by the end of the month, European imports of a type of American liquor will be subject to massive new tariffs. Which type of liquor would be taxed<\/strong> at a rate of 50% and could see its sales stifled in its largest export market?<\/p>\n

A. Vodka<\/p>\n

B. Rum<\/p>\n

C. Whiskey<\/p>\n

D. Tequila<\/p>\n

Check your answer.<\/p>\n

ACROSS THE NEWSROOM<\/strong><\/h2>\n
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    Thanks for reading! Follow along with us on Twitter<\/a> for by-the-minute updates on the latest business and financial news throughout the day.<\/p>\n<\/div>\n