STAR PERFORMER: Netflix has become a must-own stock for Wall Street investors, who , alongside Apple, Amazon, Alphabet and Facebook. Investors are bullish on Netflix’s the company’s ability to add more members from around the world. Picture: BLOOMBERG/RODRIGO CAPOTE
STAR PERFORMER: Netflix has become a must-own stock for Wall Street investors, who , alongside Apple, Amazon, Alphabet and Facebook. Investors are bullish on Netflix’s the company’s ability to add more members from around the world. Picture: BLOOMBERG/RODRIGO CAPOTE

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 transferred €28bn instead of ¥28bn to its account at derivative exchange Eurex.

Reuters

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