Netflix Jumps After Earnings and GM’s Self-Driving Ambitions Get a Boost

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 19 January 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of Netfilx were on the move higher after the streaming giant reported it added 8.5 million subscribers in the fourth quarter. Plus Microsoft making a major investment in GM’s autonomous car unit Cruise Automation. And on the eve of his inauguration, President Elect Biden attends a ceremony to honor the more than 400,000 people in the U.S. who’ve died from COVID.

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money.
0:03.4	Tonight's Trader lineup, Guy Domi, Tim Seymour,
0:05.4	Karen Feinerman and Dan Nathan tonight on Fast
0:07.8	GM cruising to another all-time high as one Tech Titan
0:11.0	bets big on its driverless cars.
0:13.1	How our traders are playing this record run straight ahead.
0:16.2	Plus, we're breaking down the banks more earnings
0:18.2	hitting the street today.
0:19.0	We heard from Golden Sachs in the Bank of America.
0:21.3	Find out why both stocks finish the day in the red.
0:24.3	And you're looking live at the National Mall in Washington, D.C. President-elect Joe Biden is about
0:28.8	to make remarks that a COVID memorial ceremony will bring you the comments live as soon as he begins.
0:34.4	But we start off with an earnings alert on Netflix that stock is surging.
0:38.4	Almost 13% in the after hours following a strong beat on user growth.
0:42.1	Let's get to Julia Borsen with more details.
0:44.1	Julia.
0:44.7	Melissa, this is Netflix's biggest post-earning surge since July of 2017.
0:51.5	Now that surge is on better than expected user growth of 8.5
0:54.4	million in the quarter. That's 2.5 million more than the company's guidance.
0:58.2	No, expectations for first quarter subscriber growth though did fall short of expectations but the company
1:04.7	also guided to better than anticipated first quarter bottom line results as
1:08.8	it announced it expects the full years free cash flow to be around break even saying they
	...

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