HomeBusinessNasdaq 100 futures rise after Netflix posts subscriber jump: Live updates

Nasdaq 100 futures rise after Netflix posts subscriber jump: Live updates

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3 Hours Ago

Alibaba shares surge after Jack Ma’s reported $50 million share buyback

Shares of Chinese tech giant Alibaba surged almost 6% after founder Jack Ma reportedly bought $50 million worth of its Hong Kong stock in the fourth quarter.

Citing people familiar with the matter, the New York Times reported that along with Ma, Alibaba chairman Joe Tsai also bought $151 million worth of Alibaba’s U.S.-traded shares in the fourth quarter via his Blue Pool Management family investment vehicle.

According to a Hong Kong exchange filing on Jan. 2, Alibaba bought back $9.5 billion of its shares in Hong Kong over 2023, resulting in a reduction of about 3.3% of its shares.

5 Hours Ago

Japan exports beat expectations in December, recording trade surplus as imports fall

Japan’s exports grew 9.8% year-on-year in December, reversing from a 0.2% fall in the previous month and beating expectations of a 9.1% rise from economists polled by Reuters.

Imports to the world’s third-largest economy fell 6.8% year-on-year in December, a smaller contraction compared with November’s 11.9% decline, but steeper than the 5.3% expected from the Reuters poll.

As such, Japan’s trade balance for December stood at a $62.1 billion surplus, compared with a $780.4 billion deficit in November.

For the whole of 2023, Japan’s total exports climbed 2.8% year-on-year to 100.89 trillion yen, while imports fell 7% in the same period to 110.17 trillion yen.

— Lim Hui Jie

5 Hours Ago

Australia factory activity expands for first time in 11 months, Juno Bank data shows

Australia’s factory activity expanded for the first time in 11 months, according to flash data from Juno Bank.

The country’s manufacturing purchasing managers’ index for January came in at 50.3, up from December’s figure of 47.6.

Service sector activity contracted at a slower pace, with the services PMI at 47.9 compared with December’s 47.1.

Overall, business activity in Australia also saw a slower contraction, with the composite PMI at 48.1 against 46.9 in December.

A PMI reading above 50 indicates expansion, while a reading below 50 signals contraction.

— Lim Hui Jie

6 Hours Ago

Stocks making the biggest moves after hours

Check out the companies making headlines in extended trading.

Netflix — The streaming service jumped 8.5% after the company reported 13.1 million new subscribers, pushing its total membership count to an all-time high of 260.8 million paid subscribers. Netflix also posted a revenue beat during the fourth quarter. The company reported $2.11 earnings per share on $8.83 billion in revenue. Analysts polled by LSEG had forecasted $2.22 earnings per share on $8.72 billion in revenue. 

Texas Instruments — Shares fell 4% after the company issued weak first-quarter earnings and revenue guidance. Texas Instruments is estimating earnings per share to fall between 96 cents and $1.16, versus consensus estimates of $1.41, per LSEG. Revenue is also expected to come in lower, in a range of $3.45 billion to $3.75 billion, compared to estimates of $4.06 billion.

The full list can be found here.

— Hakyung Kim

6 Hours Ago

Stock futures rise Tuesday

U.S. stock futures rose Tuesday evening.

Dow Jones Industrial Average futures added 16 points, or 0.04%. Meanwhile, the S&P 500 and Nasdaq Composite gained 0.15% and 0.20%, respectively.

— Hakyung Kim

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