The stock market had a mixed opening on Friday morning
After the opening bell, the Dow fell 162 points, or 0.4%, while the S&P 500 gained 0.2%. The tech-heavy Nasdaq $NDAQ composite popped up 0.6%.
Video streaming could have been the end of TV commercials, but now even Netflix (NFLX+9.88%) is making its advertising business a “priority.” This comes as the streaming giant shifts its focus from subscriber growth to profit.
Netflix (NFLX+9.88%) stock rose more than 10% Friday morning following an impressive earnings report Thursday. It added more than five million paid subscribers in the third quarter of 2024, outperforming Wall Street expectations of 3.5 million.
CVS Health $CVS (CVS-7.41%) announced a change in its chief executive officer and cautioned that its upcoming earnings are likely to disappoint predictions from Wall Street, leading to a more than 7% drop in shares during early trading.
David Joyner has been appointed president and CEO and will assume the role on Oct. 17. He will be succeeding Karen Lynch.
Joyner, who has nearly four decades of experience in the health care sector, was previously the executive vice president and president of CVS Caremark. He has also held pivotal roles at Aetna, one of the company’s currently struggling divisions. Joyner will join the Board, while current chairman Roger Farah takes on the role of executive chairman.
— Francisco Velasquez and Bruce Gil contributed to this article.
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