Netflix stock soared after the streaming video company reported much stronger subscriber growth, despite overall earnings that fell short. Bobbi Rebell reports.
Netflix added a lot more subscribers than expected last quarter, sending its stock higher in after hours trading. Its overall earnings missed forecasts. Stocks rose on Wednesday, with the Nasdaq closing above 5,000. Earnings have been largely better than expected. Bank of America one of the day's winners, reporting higher profits, though the stock fell slightly. The Fed's beige book showed U.S. economic activity continued to expand, and crude oil was on the rise, up about six percent to close at its highest level of the year. Industrial output dropped sharply in March, another sign growth slowed in the first quarter and that the Fed could wait longer to raise rates. Intel was the Dow's biggest gainer one day after it reported a three percent rise in income, and said it would cut its capital spending this year. It's official: Nokia is buying telecom gear maker Alcatel-Lucent for more than $16 billion. Delta Air Lines shares took off after it tripled its quarterly profit. The carrier said it'll reduce international service to combat the strong dollar and weaker oil prices. GoPro shares shot higher on a Piper Jaffray upgrade to "overweight" from "neutral." It said the action camera maker has been able to raise prices. Super Mario helped push stocks higher in Europe. European Central Bank chief Mario Draghi said the Bank is committed to its asset-buying program.