NASDAQ: NFLX
Key Data Points
Netflix (NFLX +1.02%), a subscription-based streaming service for movies and TV shows, closed Tuesday’s session at $90.32, up 1.02%. Netflix IPO'd in 2002 and has grown 75,393% since going public. Trading volume reached 43.8 million shares, coming in roughly 0.7% below its three-month average of 44.1 million shares.
Tuesday's action followed fresh analyst calls and ongoing merger chatter around Netflix. Investors are watching upcoming earnings guidance and any update on large content or M&A commitments.
How the markets moved today
The S&P 500 (^GSPC 0.19%) slipped 0.20% to 6,963, while the Nasdaq Composite (^IXIC 0.10%) edged down 0.10% to 23,710. Within entertainment, industry peers Walt Disney (DIS +0.14%) and Amazon (AMZN 1.57%) were mixed. Disney edged 0.14% higher while Amazon shares dipped 1.57%. Investors are comparing their streaming strategies and content investments with Netflix's positioning.
What this means for investors
Netflix has been in the mix to acquire Warner Bros. Discovery (WBD +1.62%) and now may be mulling amending its bid to an all-cash offer, according to reports.
Amid that uncertainty, HSBC (HSBC +0.26%) Global Research upgraded shares after Netflix stock has plunged 27.5% over the past six months. The "strong buy" recommendation comes as the firm sees a rebound with catalysts coming this year, including the potential Warner Bros. acquisition. The company still seems to have the edge among competitive bids, as the Warner Bros. Discovery board continues to support the Netflix offer.
