Netflix Slumps As Subscriber Growth Disappoints, Verizon Beats But..., Apple's New Product Lineup And A Price Target Hike, SPAC Fallout, And The Botched COVID Vaccines: Factory Update

Carl Quintanilla, Jim Cramer and David Faber began the show with an in-depth look at Netflix's quarterly results -- the stock tumbling on a bigger-than-expected decline in subscriber growth. The anchors also reacted to comments Netflix Founder and Co-CEO Reed Hastings made on his company's earnings call – he said there is "no real change" Netflix can detect in the competitive environment. Also on the earnings front, Verizon beat on the top and bottom line but lost more wireless subscribers than expected during the first quarter. The program featured a live report from Minneapolis on the Derek Chauvin verdict. Apple in the spotlight the morning after its new product launch -- including iPad Pros that use the company's M1 chip and have 5G support. The anchors discussed Morgan Stanley analyst Katy Huberty's call to raise her price target on Apple to $158. Also in focus: Travel amid the pandemic -- Goldman Sachs upgrades Norwegian Cruise Line to "Buy" while airline shares fall, the SPAC fallout and the SEC crackdown, a follow-up on Canadian National's $33-billion takeover bid for Kansas City Southern, and in a regulatory finding, Emergent BioSolutions said the FDA has asked the company to temporarily stop producing materials for COVID-19 vaccines while U.S. regulators investigate its plant in Baltimore responsible for ruining millions of Johnson & Johnson shots. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.