21st January 2021

Netflix cements its lead over rivals

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Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.

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[Streaming] Netflix Inc. exceeded 200 million subscribers by the end of 2020. The company said it could generate more cash than it needs and no longer anticipates borrowing money to fuel its growth strategy. Netflix shares were up 12% in after-hours trading.

Over60: WSJ, The Verge

[Covid] Amazon has offered to help the Biden administration meet its goal of completing 100 million coronavirus vaccinations within the next 100 days by offering vaccinations through its facilities. Amazon is the second-largest employer in the U.S., with over 800,000 employees. 

Over60: The Verge

[Markets] Procter & Gamble’s organic sales grew 8% from the year prior. The conglomerate known for brands such as Tide detergent, Bounty paper towels, and Charmin toilet paper has benefited tremendously from the pandemic as consumers adapted to the stay-at-home economy.

Over60: WSJ, Reuters

[Earnings] Continuing the trend for big banks reporting strong earnings Morgan Stanley posted a fourth-quarter profit increase of 51% to $3.39 billion. CEO James Gorman believes the profit increase is attributed to their unique business model, including recent acquisitions E*TRADE and Eaton Vance.

Over60: CNBC

[Texting] Beeper is a new universal chat app attempting to unify 15 different chat platforms into a single interface. The company’s claim to fame is its ability to integrate iMessages, which is only officially available on Apple devices. The service will cost users $10/month but allows for integrating several popular communication apps such as Whatsapp, Facebook Messenger, SMS, and Slack.

Over60: The Verge

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