Shutdown continues; Netflix earnings; Pharma takeover

1. Government shutdown continues: The U.S. government shutdown enters its third day on Monday, with ...

Posted: Jan 22, 2018 2:53 PM
Updated: Jan 22, 2018 2:53 PM

1. Government shutdown continues: The U.S. government shutdown enters its third day on Monday, with the Senate scheduled to vote at noon on a bill to reopen it for three weeks. However, it is still unclear whether the proposal will garner enough support from Democrats to pass.

While a brief shutdown won't have a significant economic impact, a prolonged disruption to government services could result in a hit. The last government shutdown -- which lasted more than two weeks in October 2013 -- cost an estimated $20 billion, according to an estimate from Moody's Analytics.

In Germany, months of political deadlock were broken Sunday when the center-left Social Democrats voted to begin formal coalition talks with Chancellor Angela Merkel's center-right party, a move that brings a new Merkel-led administration closer to reality.

U.S. stock futures dipped on Monday, while Asian markets ended marginally higher and European markets were mixed.

2. Netflix reports earnings: The online streaming giant will release earnings for the quarter ended December after the close on Monday, revealing the impact of its most recent increase in subscription prices. Netflix raised the cost of its standard monthly subscription by $1 and the cost of its premium subscription by $2 in early October.

The company behind hit shows like "The Crown," "Stranger Things" and "House of Cards," added over 5 million new subscribers in the previous quarter and expects to add another 6 million in the three months to December. It plans to spend $8 billion on shows and movies in 2018.

Netflix's stock price has gone up more than 60% over the past year.

Logitech Intl SA and TD Ameritrade are also set to report earnings after the close, while Halliburton and Wynn Resorts plan to release earnings before the open Monday.

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3. Pharma takeover: Sanofi announced a deal to buy biotech firm Bioverativ for $11.6 billion. The French pharmaceutical group will pay $105 in cash for each share of Bioverativ, which specializes in treatments of hemophilia and other rare blood disorders.

The agreed offer represents a 64% premium over Bioverativ's closing price on Friday.

"Together, we have a great opportunity to bring innovative medicines to patients worldwide," Sanofi CEO Olivier Brandicourt said in a statement.

Sanofi shares dropped more than 3% in in Paris on Monday morning.

4. Friday market recap: The Dow Jones industrial average was up 0.2%, while the S&P 500 was up 0.4% and the Nasdaq was up 0.6%.

The S&P 500 and Nasdaq both ended the week at record highs, while the Dow gained 54 points to close near an all-time high.

GE, one of America's most iconic companies, had its worst week since March 2009 after plunging 13%. The firm will report its latest earnings on Wednesday.

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5. Coming this week:
Monday -- Netflix earnings.
Tuesday -- Procter & Gamble, Verizon, United, Johnson & Johnson earnings; Davos starts; NAFTA talks resume.
Wednesday -- Comcast, Ford, GE earnings.
Thursday -- American Airlines, JetBlue, Southwest, Caterpillar, Intel, Starbucks earnings.
Friday -- Honeywell earnings, Q4 GDP.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2110004

Reported Deaths: 53574
CountyCasesDeaths
Kings28059410456
Queens2773009958
Suffolk2010363400
Nassau1836493175
Bronx1835056589
New York1382724500
Westchester1296642291
Erie895791807
Richmond749771841
Monroe689761110
Orange48312843
Rockland46944963
Onondaga38931677
Dutchess29472445
Albany24699356
Oneida22619514
Niagara20035373
Broome18623366
Saratoga15364168
Ulster13908257
Schenectady13202205
Rensselaer11229142
Putnam1060692
Chautauqua8951145
Chemung7761136
Oswego762292
Ontario740693
Steuben6952145
Sullivan667376
St. Lawrence664096
Cayuga633792
Jefferson613668
Wayne578370
Cattaraugus572091
Genesee5435124
Herkimer5187109
Clinton483533
Madison456289
Livingston452060
Fulton442291
Tompkins434652
Montgomery4254126
Columbia4064104
Cortland392662
Tioga383063
Warren365857
Wyoming358253
Allegany355587
Chenango349976
Otsego346247
Greene340379
Washington316255
Orleans311883
Lewis280836
Franklin256312
Delaware238138
Seneca201156
Schoharie169217
Essex159326
Yates117826
Schuyler107514
Hamilton3132
Unassigned9315
Out of NY0250
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