US stocks edge higher; Netflix plunges on sub losses
By DAMIAN J. TROISE
AP Business Writer
NEW YORK (AP) — Stocks edged mostly higher in morning trading on Wall Street Wednesday but were held back by streaming entertainment giant Netflix, which lost lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead. The S&P 500 rose 0.1%, the Dow Jones Industrial Average rose 0.6% and the Nasdaq fell 0.6%. IBM added 4.7% after reporting results that beat analysts’ estimates. Banks and a mix of household product makes made solid gains. Bond yields fell and crude oil prices remained mostly stable.