Netflix’s stock market value ballooned to a record US$153bn last week, eclipsing Walt Disney Co for the first time and making it the world’s most valuable entertainment company. Lifted by a blitz of original programmes and 125m global subscribers, some of whom have given up cable television packages, Netflix’s stock has surged 80% in 2018, more than that of any other company in the S&P 500. Its shares have risen nearly 33,000% since its 2002 initial public offering. Netflix’s stock was up 2.3% to $352.90 last Thursday, in line with the median price target of analysts covering the company, according to Thomson Reuters data. Expensive mistake Deutsche Bank erroneously transferred €21bn to Macquarie in 2014, a spokesperson said on Thursday — the latest such error to come to light. The transfer was a human error and not related to faulty technology, said a person familiar with the matter. It was corrected within hours and didn’t result in financial damages. In March, the bank transferre...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.