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Netflix (NFLX) founder Reed Hastings has stepped down and big changes could be on the horizon.
Netflix is putting its plan to crack down on password sharing into action. We have a breakdown of the changes that are coming to your account.
US stocks were mixed Thursday as investors continue to digest Fed Chair Jerome Powell’s most recent speech.
• Meta Platforms (META) reported better-than-expected revenue and announced a $40 billion stock buyback. The company also offered guidance for the first quarter that suggested revenue could rise even further.
• The US Department of Labor’s report showed initial jobless claims fell by 3,000, bringing the total to 183,000. This was well below expectations of 200,000 and marked a 6th-straight decline, adding further evidence of a still-tight labor market.
What to be on the lookout for today
• Investors will get a more cohesive look at the job market with the release of the January unemployment rate and other data. In December, the unemployment rate fell below expectations to 3.5%.
• Cigna (CI) will round out the week of earnings. Last quarter, the global health services company posted revenue of $45.3 billion and raised its full-year outlook for 2022.
What does a financial planner even do, and do you need one? Here’s what you need to know.
The role of a CERTIFIED FINANCIAL PLANNER™ professional is to educate their clients to become more financial savvy. Financial planners can offer information and personalized advice based on an individual's specific financial situation, helping clients lay out goals and strategize how to reach them.
Certified financial planner is a formal credential of expertise in the areas of:
• Financial planning
• Taxes
• Insurance
• Estate planning
• Retirement planning
Financial planners can charge for their services in many ways and at many different price points. But did you know that SoFi offers complimentary financing planning to members? Schedule a call today!
Today’s top stories
Meta (META), Facebook’s parent, is leaning on AI to improve efficiency and its bottom line. The company reduced its outlook for expenses and expects improved traction with its TikTok competitor Reels. Here’s what it could mean for the company’s investors, employees, and users. Read more >> Introducing: ChatGPT Plus. Nope, it’s not another streaming service! ChatGPT Plus is a paid subscription tier for the AI chatbot. It will cost $20 per month and include these key benefits for hardcore ChatGPT users. Read more >> From a market perspective, almost everything that didn’t work in 2022 caught a second wind in January. SoFi’s Head of Investment Strategy shares her take on what to make of the hot start to 2023. Read more >>Not-so-breaking news
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Ferrari (RACE) reported a 13% profit increase after shipping over 13,000 vehicles in 2022. The luxury car company expects to accelerate further in 2023.
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Shell (SHEL) posted a record annual profit of $40 billion, burying its previous record of $28.4 billion in 2008. The oil giant also approved a 15% increase to its dividend and a $4 billion share buyback program.
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Honeywell (HON) missed on revenue and barely exceeded earnings expectations. However, CEO Darius Adamczyk said he expects aerospace and energy markets to have a strong year in 2023.
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Merck & Co (MRK) beat analyst expectations for its fourth-quarter earnings, fueled by sales of the cancer treatment drug Keytruda. But the pharmaceutical company expects softer demand for its COVID therapies to hurt its 2023 performance.
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Harley Davidson (HOG) sped past analyst expectations for 2022 due to increased bike shipments. Global shipments rose 18% for the legacy motorcycle company, boosting total revenue by 12%.
Financial planner tip of the day
“It’s not necessarily a problem to have a balance on your credit card—as long as you pay it off every billing cycle. In fact, using credit cards for rewards or to build credit can be a financially healthy choice. And getting into the habit of paying off your statement balance in full by the due date is important.”
Brian Walsh, CFP® at SoFi