Netflix Soars As Comcast Falters Ahead Of Entry Into Streaming Wars

In US stocks, after tumbling 3.6% on Wednesday due to disappointing subscriber growth in the US, Netflix (NFLX) surged 7.2% on Thursday. It was boosted by weak results from Comcast (CMCSA), which has plans to get into the streaming wars this year with its own Peacock service. Comcast’s share price sank 3.8% after reporting a worse than expected drop in video customers in Q4. Revenue in its NBCUniversal TV division, which Peacock is being tied into, saw revenue drop by 2.6% during the quarter. Overall Comcast beat earnings expectations, highlighting the importance being placed on its entry into the streaming market in terms of securing its future.

Uber strikes electric deal with Nissan

Uber (UBER) and Nissan (NSANY) have signed a deal to help drivers in London switch to fully electric vehicles, as part of its plans to make London Uber journeys emissions-free by 2025.

The deal will see Nissan will make 2,000 of its Sunderland-made electric Leafs available to Uber drivers at below the market rate. Drivers will also be able to use money accumulated from Uber’s “clean air fee,” which charges riders 15p per mile on all London journeys, to help pay for the cars.

While the news had a limited impact on its shares after hours, Uber has had a strong start to 2020, with shares up some 20%.

Xerox launches bid to take over HP board

Xerox’s (XRX) hostile battle to take over computer and printing giant HP stepped up a notch on Thursday, as the firm nominated a full set of 11 directors to replace HP’s board, queuing up a proxy vote battle - as shareholders have to vote to approve director nominations. HP (HPQ) stock rose 0.8% on the news, while Xerox fell marginally. Intel (INTC) posted a solid earnings quarter, beating analyst estimates on both earnings and revenue, thanks to growth in its data center unit. The semiconductor giant’s share price rose by 0.9%, and it is now up by more than 30% since the start of September. Fashion brand VF Corporation, (VFC) which occupies a substantial portion of the US backpack market, and also owns brands such as The North Face and Timberland, was one of the biggest losers on Thursday. Its share price dropped by close to 10%, after lowering its full year guidance. Wells Fargo (WFC) made headlines again on Thursday, after its former CEO was fined $17.5m for his role in the company’s fake accounts scandal.

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