Stocks Opened Flat, Eyed on Earnings

U.S. stocks opened flat on Tuesday as investors turned their attention to earnings. The Dow Jones Industrial Average lately fell 34.95 points, or 0.13%, to 26,179.65. The S&P 500 gained 1.17 points, or 0.04%, to 2,834.14. The Nasdaq Composite added 27.97 points, or 0.38%, to 7,436.00.

Oil prices extended start-of-the-week gains on Tuesday, as optimism grew over reducing a global glut in oil, with weekly U.S. supply data just around the corner. March West Texas Intermediate crude rose 47 cents, or 0.7%, to $64.03 a barrel. Brent for March climbed 42 cents, or 0.6%, to $69.45 a barrel.

Verizon Communications Inc on Tuesday reported quarterly revenue that exceeded analyst estimates as phone subscribers grew while tax cuts helped its profits soar. Net income attributable to Verizon was $18.7 billion, or $4.56 per share, in the fourth quarter through Dec. 31, up considerably from $4.5 billion, or $1.10 a share, a year earlier. Total revenue rose to $34.0 billion from $32.34 billion a year earlier.

Netflix shares jumped 12 percent Tuesday, giving it a market value of $110 billion. Wall Street analysts believe the streaming leader is just getting started. Netflix said it added 8.3 million subscribers in the fourth quarter compared with expectations for 6.4 million.

The media mogul Rupert Murdoch has long coveted Sky, the British satellite broadcaster, and he has made multiple attempts over several years to take over the company. On Tuesday, a British regulator beat him back, provisionally rejecting 21st Century Fox’s bid to buy Sky.