Shutdown continues; Netflix earnings; Pharma takeover

1. Government shutdown continues: The U.S. government shutdown enters its third day on Monday, with ...

Posted: Jan 22, 2018 11:53 AM
Updated: Jan 22, 2018 11:53 AM

1. Government shutdown continues: The U.S. government shutdown enters its third day on Monday, with the Senate scheduled to vote at noon on a bill to reopen it for three weeks. However, it is still unclear whether the proposal will garner enough support from Democrats to pass.

While a brief shutdown won't have a significant economic impact, a prolonged disruption to government services could result in a hit. The last government shutdown -- which lasted more than two weeks in October 2013 -- cost an estimated $20 billion, according to an estimate from Moody's Analytics.

In Germany, months of political deadlock were broken Sunday when the center-left Social Democrats voted to begin formal coalition talks with Chancellor Angela Merkel's center-right party, a move that brings a new Merkel-led administration closer to reality.

U.S. stock futures dipped on Monday, while Asian markets ended marginally higher and European markets were mixed.

2. Netflix reports earnings: The online streaming giant will release earnings for the quarter ended December after the close on Monday, revealing the impact of its most recent increase in subscription prices. Netflix raised the cost of its standard monthly subscription by $1 and the cost of its premium subscription by $2 in early October.

The company behind hit shows like "The Crown," "Stranger Things" and "House of Cards," added over 5 million new subscribers in the previous quarter and expects to add another 6 million in the three months to December. It plans to spend $8 billion on shows and movies in 2018.

Netflix's stock price has gone up more than 60% over the past year.

Logitech Intl SA and TD Ameritrade are also set to report earnings after the close, while Halliburton and Wynn Resorts plan to release earnings before the open Monday.

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3. Pharma takeover: Sanofi announced a deal to buy biotech firm Bioverativ for $11.6 billion. The French pharmaceutical group will pay $105 in cash for each share of Bioverativ, which specializes in treatments of hemophilia and other rare blood disorders.

The agreed offer represents a 64% premium over Bioverativ's closing price on Friday.

"Together, we have a great opportunity to bring innovative medicines to patients worldwide," Sanofi CEO Olivier Brandicourt said in a statement.

Sanofi shares dropped more than 3% in in Paris on Monday morning.

4. Friday market recap: The Dow Jones industrial average was up 0.2%, while the S&P 500 was up 0.4% and the Nasdaq was up 0.6%.

The S&P 500 and Nasdaq both ended the week at record highs, while the Dow gained 54 points to close near an all-time high.

GE, one of America's most iconic companies, had its worst week since March 2009 after plunging 13%. The firm will report its latest earnings on Wednesday.

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5. Coming this week:
Monday -- Netflix earnings.
Tuesday -- Procter & Gamble, Verizon, United, Johnson & Johnson earnings; Davos starts; NAFTA talks resume.
Wednesday -- Comcast, Ford, GE earnings.
Thursday -- American Airlines, JetBlue, Southwest, Caterpillar, Intel, Starbucks earnings.
Friday -- Honeywell earnings, Q4 GDP.

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 313161

Reported Deaths: 3594
CountyCasesDeaths
Multnomah51245642
Washington34995276
Marion32577393
Clackamas26570271
Lane23989246
Jackson20977257
Deschutes16623102
Umatilla12602125
Douglas10712188
Linn1046886
Josephine8659165
Yamhill744999
Klamath643491
Polk623570
Malheur479467
Benton461927
Coos412069
Columbia324237
Jefferson313746
Lincoln276330
Union272737
Wasco239039
Crook212338
Clatsop211725
Tillamook181523
Baker174421
Morrow167921
Curry166817
Hood River163035
Harney78916
Grant7558
Lake6768
Wallowa50811
Gilliam1374
Sherman1283
Wheeler651
Unassigned00

California Coronavirus Cases

Data is updated nightly.

Cases: 4644566

Reported Deaths: 68019
CountyCasesDeaths
Los Angeles144512125852
Riverside3579884804
San Diego3495814009
San Bernardino3472035506
Orange3146225354
Sacramento1503072089
Santa Clara1405641841
Fresno1358611888
Kern1358421515
Alameda1162141329
Ventura976901120
San Joaquin973871615
Contra Costa95727924
Stanislaus806991234
Tulare72969896
San Mateo52239607
San Francisco51907605
Monterey49465565
Solano44151312
Santa Barbara43112500
Sonoma39441378
Merced39370535
Placer36487364
Imperial34261755
Kings30124284
San Luis Obispo28300313
Madera21707258
Butte21307230
Shasta20683276
Santa Cruz20151211
Yolo19143239
Marin17106242
El Dorado16004127
Sutter13094153
Napa1226895
Yuba926061
Nevada847685
Humboldt829587
Tehama823784
San Benito709067
Mendocino685575
Lassen637627
Tuolumne615393
Lake603687
Amador492259
Glenn398030
Siskiyou389541
Calaveras342266
Del Norte336034
Colusa290918
Inyo166539
Mono14935
Plumas12406
Mariposa99712
Trinity72010
Modoc6278
Sierra1980
Unassigned1650
Alpine1000
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