US stocks edge higher; Netflix plunges on subscriber losses
By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers
NEW YORK (AP) — Stocks edged mostly higher in afternoon 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 0.9% and the Nasdaq fell 1.1%. IBM added 7% after reporting results that beat analysts’ estimates. Health care companies, banks and a mix of household product makers made solid gains. Bond yields fell and crude oil prices edged higher.
