Here’s what you need to know this morning:
Netflix Adds Millions to Service
Netflix added over 7 million subscribers in the fourth quarter of 2016. They now have 93.8 million members worldwide. While they spent $5 billion on content last year and will spend $6 billion on content this year, the company’s income increased by 56% to $57 million. Their stock is performing well, too, as it was up 7% before the market opened.
Earnings Season Continues
Several smaller banks reported their earnings this morning, with smaller banks like M&T ($MT) posting a profit. Major stock market staples IBM ($IBM) and American Express ($AXP) are set to reveal their quarterly earnings when the market closes today.
Samsung Chief Not Arrested
South Korean special prosecutors tried to get a warrant to arrest Samsung executive and heir apparent Jay Y Lee. The failed to secure said warrant due to a court’s refusal. Lee is facing charges of bribery, embezzlement, and perjury related to the country’s impeached president, Park Geun-hye. Lee allegedly paid $36.6 billion in bribes to one of Park’s friends, though the Samsung head claims he was pressured into doing so. For more on the case, head over to The Guardian for a full analysis.