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Morning Brief: Remembering Jack Bogle, father of the index fund


Thursday, January 17, 2019

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WHAT TO WATCH

Media giant Netflix (NFLX) will be releasing financial results on the back of a big announcement on Tuesday that the company is raising prices for its approximately 58 million U.S. customers.

As always, it’s all about the subscribers. Netflix’s subscriber numbers have the power to dramatically move the stock, and analysts are expecting the streaming company to have added roughly 1.8 million domestic subscribers and 7.6 million international subscribers during Q4.

Additionally, analysts polled by Bloomberg are expecting Netflix to have earned 39 cents per share on $4.21 billion in revenue.

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TOP NEWS

Jack Bogle headshot, founder and former CEO of The Vanguard Group, graphic element on gray

Jack Bogle, father of the index fund, has died: John C. Bogle, the founder of the Vanguard Group and the father of the index fund, has died at age 89. He founded Vanguard in Malvern, Penn. in 1974 and soon launched the very first index fund two years later, which tracked the S&P 500 and revolutionized investing. [Yahoo Finance]

Read more from Yahoo Finance on Bogle

Theresa May survives no-confidence vote. British Prime Minister Theresa May criticized Jeremy Corbyn for refusing to take part in emergency Brexit talks after she scraped through a vote of no confidence in her government’s handling of the crisis. She urged MPs to put self-interest aside and confirmed she had held talks with the SNP, Plaid and Lib Dems – but that Corbyn had chosen not to take part. [Yahoo Finance UK]

Huawei targeted in U.S. criminal probe: Federal prosecutors are pursuing a criminal investigation of China’s Huawei Technologies Co. for allegedly stealing trade secrets from U.S. business partners, including technology used by T-Mobile US Inc. to test smartphones, according to people familiar with the matter. [The Wall Street Journal]

Apple plans some hiring reductions: Apple Inc. (AAPL) will cut back on hiring for some divisions after selling fewer iPhones than expected and missing its revenue forecast for the holiday quarter, according to people familiar with the matter. [Bloomberg]

China confirms vice premier will visit the U.S.: China’s chief trade negotiator, Liu He, is headed back to the U.S. at the end of the month for the next round of trade talks, the Chinese government confirmed. [Bloomberg]

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