Facebook, Spencer Newman, Bloomberg S discussed on Bloomberg Daybreak

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Futures are little changed on this Wednesday morning It is 5 O one on Wall Street We check the markets every 15 minutes throughout the trading day on Bloomberg S&P futures that'll change down futures up 13 NASDAQ futures down 9 and Nathan Karen we begin this morning with word of a company makeover for Facebook The world's largest social media network is reportedly looking for a new name and we get the latest on this developing story live with Bloomberg's ready to go Good morning granita Good morning Nathan the verge reports that Facebook is planning a rebranding as it faces intense scrutiny over business practices CEO Mark Zuckerberg is expected to discuss the name change at Facebook's connect conference at the end of the month Now Zuckerberg reportedly thinks the key to Facebook's future lies with a metaverse concept that's the idea that users will live work and exercise inside a virtual universe The new company name will focus on that but the original Facebook app and service may remain the same in their branding live in New York I'm granita young Bloomberg day break All right we need to thank you while earnings are front and center this morning after strong results from Netflix the company came out with its best subscriber growth of the year Chief financial officer Spencer Newman says that's due in part to the popularity of squid game What we saw as the quarter continued it in September we saw acceleration in our growth which is what we had been hoping for and expecting but it was good to see as we got into the strength of our schedule Chief financial officer Spencer Newman says Netflix expects to sign up another 8 and a half million customers in the final three months of the year Karen Netflix's backtracking on earlier remarks backing Dave Chappelle co CEO Ted sarandos says he screwed up in defending the comedian's controversial special which offended some in the transgender community Sarandos tells The Wall Street Journal he should have instead quote led with humanity in those emails because some Netflix employees were hurting Well up next on the earnings front Nathan it's all about Tesla the electric carmaker is one of 40 major companies reporting today our investment CEO Cathy would remain bullish on Tesla especially Elon Musk's strategy on batteries Cylindrical batteries that he's been using relative to lithium ion pouch lower cost and will remain lower cost for at least three years we think which means that any other auto manufacturer who wants the same performance and the same range at the same price will have to lose money on every car sold Our investment CEO Cathy wood says her base case for Tesla's $3000 a share the stock closed yesterday at $864 It's now Karen Bitcoin Klein within $400 of its all time high overnight Right now it's hovering near 64,000 Following the debut of the first Bitcoin linked ETF Still Guggenheim chairman Scott minor has concerns he compares cryptocurrencies with the Internet bubble of the 90s.

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