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BUSINESS Wednesday 16 January 2019
A25

US indexes climb as Netflix leads internet stock surge

By MARLEY JAY the fourth quarter fell short
Associated Press of Wall Street's estimates.
NEW YORK (AP) — Stocks Its stock fell 5.7 percent to
in the U.S. are rising Tues- $375.20. Other coatings
day as Netflix leads a rally makers also struggled. 3M
in internet and technology shed 1.5 percent to $189.37
companies after saying it and PPG Industries lost skid-
will raise prices for its sub- ded 1.5 percent to $100.43.
scription plans in the U.S. Home improvement retailer
Health care companies Home Depot gave up 1.32
rose and banks fell as major percent to $176.60 and
companies including Unit- Lowe's slid 2.2 percent to
edHealth and JPMorgan $94.79.
Chase announced their HEALTH CARE GETS A
fourth-quarter results. CHECKUP: UnitedHealth
The British pound is weak- rose 2.3 percent to $253.97
ening as U.K. legislators after saying its Optum phar-
prepare to vote on Prime macy benefits manage-
Minister Theresa May's plan ment business had another
detailing the country's de- strong quarter. United is the
parture from the European largest health insurer in the
Union. The proposal ap- U.S. and the first to report its
pears likely to be rejected. results, so it's often seen as
Asian stocks rose after In this Jan. 11, 2019, file photo, Specialist John O'Hara, left, works on the floor of the New York a bellwether for the indus-
China's government said it Stock Exchange. try.
plans to cut taxes. Associated Press Boston Scientific and Ed-
KEEPING SCORE: The S&P wards ended a lawsuit over
500 index rose 19 points, or to $352.22. Netflix stock has Wells Fargo, the consum- the one May and Europe- patents that cover prod-
0.8 percent, to 2,601 at 11 jumped more than 30 per- er banking giant, said its an leaders negotiated. ucts including replacement
a.m. Eastern time. It had cent in 2019 but was worth fourth-quarter profits fell If the deal is defeated, it's heart valves and valve re-
slipped for two days in a almost $420 a share in July. slightly on Tuesday as the not clear what will happen pair devices. Edwards paid
row after a six-day winning Elsewhere Facebook bank remains restrained to May's government or Boston Scientific $180 mil-
streak. The Dow Jones In- gained 2.8 percent to by federal regulators, who the economies and finan- lion. Edwards jumped 7.9
dustrial Average added $149.47 and Alphabet, put a tight leash on it after cial systems of Britain and percent to $161.24 and
90 points, or 0.4 percent, Google's parent company, years of scandals and mis- the rest of Europe. Britain is Boston Scientific gained 4.3
to 24,000. The technology- picked up 2.1 percent to steps. It gave up 2.5 per- scheduled to leave the EU percent to $36.82.
heavy Nasdaq composite $1,073. Microsoft rose 2.4 cent to $47.19. on March 29. CHINA'S ECONOMY: Chi-
jumped 86 points, or 1.3 percent to $104.46 and BRITAIN VOTE: British law- The pound weakened to nese leaders plan to slash
percent, to 6,991. The Rus- Adobe climbed 2.8 per- makers will begin their vote $1.2806 from $1.2865, and taxes, increase govern-
sell 2000 index of smaller- cent to $241.07. Tuesday afternoon, after the British FTSE 100 index ment spending, and pro-
company stocks edged up BANKS BOINK: JPMorgan the U.K. stock market clos- rose 0.7 percent. It's down vide financing to private
5 points, or 0.4 percent, to Chase's fourth quarter prof- es. It still appears the plan 11 percent over the last and small enterprises in
1,438. its badly missed analysts' will be voted down. Law- year. a bid to strengthen the
BANDER-SNATCHING expectations on Tuesday makers who want Britain to PAINT IT BLACK: Paint and world's second-largest
MORE DOLLARS: Netflix an- as its bond-trading business leave the EU say the deal coatings maker Sherwin- economy. China is endur-
nounced the biggest price struggled during the ex- will leave Britain bound in- Williams said it was "disap- ing its worst slowdown since
increase in its history. The tremely volatile fourth quar- definitely to EU rules, while pointed" with its sales in the global financial crisis
price of its most popular ter. Its stock lost 0.8 percent pro-EU politicians favor an October and November, amid a punishing tariffs dis-
video-streaming plan will to $100.11. even closer economic rela- and its profit and sales in pute with the U.S.q
rise $13 per month from Citigroup also reported tionship with the bloc than
$11. That will help to pay for weak results from its bond
Netflix's huge investment trading business Monday. ASSOCIATED REALTORS
in original shows and films While banks with trad- For Sale
and finance the heavy ing desks typically benefit Commercial property close to
debt it has assumed to from volatility, the last three the new Container Port in
ward off rivals such as Am- months of 2018 were too Barcadera, build-up 424 m2,
azon, Disney and AT&T. Its wild even for traders on land 2400 m2 for $898,876.
stock climbed 5.8 percent Wall Street. For more details
contact Mito at 593 6318
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