- Reuters/Yuri Gripas
Here is what you need to know.
Netflix blows past subscriber targets, hits all-time high. The streaming giant beat on both US and international subscriber growth, propelling shares to a record high in after-hours trading on Monday.
Nordstrom postpones its effort to go private. Shares of the department-store chain fell by as much as 7% on Monday after the Nordstrom family postponed its attempt to take the company private, struggling to raise enough debt to finance the deal.
A private-equity firm is buying Ruby Tuesday. The casual dining chain was purchased for a total enterprise value of $335 million, or $2.40 a share in cash, by the private-equity firm NRD Capital.
An activist hedge fund wants to break up Credit Suisse. The Swiss hedge fund RBR Capital Advisors, which is spearheaded by Gaël de Boissard, a former cohead of investment banking at Credit Suisse, wants to split up the bank after its stock has fallen by 20% since Tidjane Thiam took over as CEO in 2015, the Financial Times says.
Microsoft’s CEO earns a big payday. Microsoft CEO Satya Nadella earned more than $20 million in cash and stock over the company’s most recent fiscal year, according to a company Securities and Exchange Commission filing on Monday.
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Japan’s Kobe Steel has been falsifying data for more than 10 years. Cheating at the firm went on for decades and with the knowledge of plant and quality-control managers, Reuters reports, citing an unsourced Nikkei report.
UK inflation hits 3%. UK inflation ticked up to 3% in September, its highest level in five years, data released Monday by the Office for National Statistics showed.
Stock markets around the world are higher. Japan’s Nikkei (+0.38%) paced the advance in Asia, and Germany’s DAX (+0.02%) clings to a small gain in Europe. The S&P 500 is set to open little changed near 2,557.
Earnings reporting picks up. Goldman Sachs, Harley-Davidson, and Morgan Stanley are among the names reporting ahead of the opening bell, while IBM releases its quarterly results after markets close.
US economic data flows. Industrial production and capacity utilization will be released at 9:15 a.m., and the NAHB Housing Market Index is announced at 10 a.m. ET.