- 1. Netflix stock soars after unexpectedly strong quarter
- 2. Judge rejects Dakota Access pipeline riot charge against journalist
- 3. Caterpillar CEO retiring early as company contends with falling sales
- 4. UnitedHealth announces unexpectedly strong quarterly profits
- 5. U.K. inflation rises to highest level in two years
1. Netflix stock soars after unexpectedly strong quarter
Netflix shares jumped by 20 percent in after-hours trading on Monday after the streaming video giant reported a larger subscriber increase than expected in the third quarter, thanks largely to the success of original shows such as Stranger Things. Netflix said it added 3.57 million streaming subscribers. In July, it projected that it would add just 2.3 million customers in the quarter. The surge came a quarter after Netflix's weakest subscriber gains in two years. Before Monday's stock jump, Netflix shares had lost 13 percent this year. Netflix also reported record revenue.
2. Judge rejects Dakota Access pipeline riot charge against journalist
A North Dakota judge on Monday rejected proposed riot charges against Democracy Now! journalist Amy Goodman over footage she and her crew filmed during a September protest against the Dakota Access pipeline. The footage showed security officers pepper-spraying and using attack dogs on mostly Native American anti-pipeline protesters. Goodman said the decision was "a complete vindication of my right as a journalist to cover the attack on the protesters, and of the public's right to know what is happening with the Dakota Access pipeline." Also on Monday, authorities in Iowa said pipeline construction equipment torched by arsonists over the weekend sustained about $2 million in damages.
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3. Caterpillar CEO retiring early as company contends with falling sales
Caterpillar Inc. announced Monday that its chairman and CEO, Doug Oberhelman, would retire next year, earlier than expected. Caterpillar, which makes excavators, bulldozers, and other heavy equipment, has faced the longest sales decline in its history as the industry has been hammered by a contraction in energy and mining. Oberhelman spent 41 years with Caterpillar. He will retire as CEO on Jan. 1, to be replaced by Jim Umpleby, who has been with the company 35 years and runs its engine business. Board member David Calhoun will become non-executive chairman.
4. UnitedHealth announces unexpectedly strong quarterly profits
UnitedHealth Group on Tuesday reported third-quarter profit that beat analysts' expectations. The nation's largest health insurer had net income of $2.17 per share, adjusted for one-time gains and costs, up from an average estimate of $2.08 by analysts surveyed by Zacks Investment Research. UnitedHealth also raised its forecast for full-year earnings to about $8 a share, compared to its previous forecast of $7.80 to $7.95 a share. The results were helped by growth at Optum, the company's health-services unit, as well as UnitedHealth's acquisition of pharmacy-benefit manager Catamaran Corp.
5. U.K. inflation rises to highest level in two years
Inflation in the U.K. jumped by the most in two years in September, rising by 1 percent year-on-year, the Office for National Statistics said on Tuesday. The trend is expected to continue as the weakening of the pound in the wake of Britain's vote to exit the European Union continues to push up the price of imports. The British currency has fallen by 18 percent since the June 23 Brexit vote. The price hikes were slightly higher than the 0.9 percent increase that had been forecast.
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