Netflix underperforms in market S hares in Netflix underperformed in the stock market as word of other streamers taking popular shows within the next few years has spread. Included in those leaving the streamer are TV classics Friends and The Office, which is leaving in 2021 and being pulled by NBC. It’s found new popularity on Netflix. They offered nearly $90 million to NBC a year to keep the show, but were rebuffed. As a result, Netflix stock is trading down five per cent over the last year.Though it’s gone up 41 per cent in fourth quarter over last year, that hasn’t been enough to keep things steady. Netflix is currently working on more original content as Disney and Comcast are starting their own streaming services and planning to pull titles from Netflix.
United Airlines quarterly profit sees second-quarter profit U nited Airlines Holdings reported an increase in second-quarter profit, due to air travel demand and the ability to charge more for seats. The costly seats come from supply constraints due to the Boeing Co 737 MAX grounding. The grounding has been on since March, when crashes in Ethiopia and Indonesia killed 346 people. Adjusted earnings per share rose to $4.21 in the second quarter, from $3.23 last year.
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Export numbers surge in May C anada hit a trade surplus In May 2019 as U.S. exports rose to an all-time record. The nation posted a trade surplus of $762 million, a 4.6 percent jump just over $56 billion in June. Shipments of cars and car parts are reportedly the reason for the added benefit. The shipments rose 12.4 percent to $8.4 billion, and the monthly record hit $39.3 billion. The numbers, according to Statistics Canada, also showed a boom in the aerospace sector, making this the fourth time since oil prices caused a plummet in 2014 that Canada’s trade showed a surplus.
U.S. appeals as court rules N.Y. can ban ads inside Ubers, Lyfts A federal U.S. appeals court has said New York City can ban advertising in Lyft and Uber vehicles. The2ndU.S. CircuitCourtofAppeals inManhattan ruled 3-0, reserving a lower court ruling, in a case brought by a technology company that places ads. The ban excluded Taxi TV, which allows drivers of taxis to put in technology to help riders monitor fares and pay by credit card. Vugo Inc. sued New York City back in 2015, calling it unconstitutional. But passengers couldn’t turn the ads off.
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SPOTLIGHT ON BUSINESS MAGAZINE • AUGUST 2019
13 AUGUST 2019 • SPOTLIGHT ON BUSINESS MAGAZINE
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