Netflix adds subscribers after account-sharing crackdown, firm says

Netflix saw a big bump in new subscribers in the U.S. after it began warning customers that it will limit account sharing, according to a new report from the research firm Antenna.

The streaming TV leader averaged more than 70,000 new customers a day in the four days after it began telling customers they could no longer share passwords on May 23, according to data from Antenna. On two of those days, new sign-ups topped 100,000 in the U.S.

New customer acquisitions doubled over the four days when compared with the prior 60-day average, Antenna said. It was the best performance since Antenna began compiling the numbers four and half a years ago. Cancellations also increased, although not as much as signups. The firm collects data from a number of sources including credit-card receipts and online purchases.

Netflix estimates that as many 100 million households use its service without paying globally. The company tested ways to limit password sharing in Latin America before rolling out the program in more countries, including Spain and Australia.

Adobe rose another 3.4% to add to its 5% leap from the day before following its announcement of a new artificial-intelligence offering for businesses. It joined a frenzy around AI that has sent a select group of stocks soaring, such as a 165% surge for chipmaker Nvidia so far this year.

Proponents say AI will be the next revolution to remake the economy, while critics say it's inflating the next bubble.

In the bond market, the yield on the 10-year Treasury rose to 3.74% from 3.72% late Thursday. It helps set rates for mortgages and other important loans.

The two-year yield, which moves more on expectations for the Fed, rose to 4.62% from 4.52%.