USPS Posts a $1.9B Loss in Q1; Apple Reportedly to Acquire Beats
Stocks ended the day up as Nasdaq snapped a three-day losing streak and the Dow Jones ended the day at a new all-time high. USPS posted a first quarter loss of nearly $1.9 billion, making it the 20th time in the last 22 quarters that USPS posted a loss. After raising the monthly subscription price overseas, the price increase has now hit America. Netflix (NFLX) announced that starting Friday the subscription price will increase by $1 to $8.99 a month. It looks like Apple (AAPL) will be purchasing headphone maker and music company Beats Electronics for $3.2 billion.
Word on the Street
- USPS posts a $1.9 billion loss in Q1.
- Netflix (NFLX) raises price in the U.S. to $8.99 a month.
- Job openings and hirings fall slightly in March.
- Apple (AAPL) looking to purchase Beats Electronics.
- Time Warner (TWX) plans to complete Time Inc. in June.
- Ford (F) recalls nearly 700,000 Escape SUVs.
- Omnicom (OMC) and Publicis terminate $35B merger.