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Netflix, Procter & Gamble, Intel: Stocks That Defined the Week

netflix,-procter-&-gamble,-intel:-stocks-that-defined-the-week

Netflix Inc.

Netflix has a steady stream of new subscribers. The company said Tuesday it topped 200 million paying customers for the first time after adding a record 37 million in 2020. The streaming giant’s continued growth comes in the midst of heightened competition from tech giants and media conglomerates. A new rival, ViacomCBS Inc.’s Paramount+, is slated to launch in March and will exploit a key advantage media companies have over their tech competitors: cross-promotion. Netflix shares surged 17% Wednesday.

Microsoft Corp.

Microsoft is betting big on driverless cars. The software giant on Tuesday joined a group of companies that will invest more than $2 billion in General Motors Co.’s driverless-car startup, Cruise. Under the terms of the deal, Cruise will use Microsoft’s Azure cloud-computing platform to help it roll out autonomous-vehicle services. GM said Microsoft would be its preferred cloud provider and help it streamline supply chains and roll out new digital services to customers. In recent years, the tech giant has been aggressively pushing its cloud-computing business, where it rents server capacity and software tools to customers. Microsoft shares rose 1.8% Tuesday.

UnitedHealth Group Inc.

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