NEW YORK, December 29, 2025, 03:57 ET — Market closed
- Netflix ended the last session up 0.9% at $94.47, in a tight post-holiday range
- Investors remain focused on the regulatory and financing path for Netflix’s planned Warner Bros deal
- Fed minutes due Tuesday and Netflix’s Jan. 20 earnings are the next scheduled catalysts
Netflix shares ended Friday up 0.9% at $94.47, edging higher in thin post-holiday trade. The stock outperformed a flat U.S. market heading into the final trading week of 2025. [1]
The move matters now because equities are near record peaks and investors are eyeing whether a year-end rally has enough fuel to extend into early January. The S&P 500 is hovering about 1% below the 7,000 level, a milestone many traders have been watching as a sentiment marker. [2]
For Netflix, the immediate backdrop remains its planned purchase of Warner Bros.’ studios and streaming assets — a transaction investors see as transformative but complex, with financing and antitrust review still front and center. [3]
Major U.S. indexes finished nearly unchanged on Friday, with the S&P 500 down 0.03%, the Dow off 0.04% and the Nasdaq down 0.09%, according to Reuters. [4]
Media shares were mixed. Walt Disney slipped 0.8% and Warner Bros. Discovery fell 1.4% in the last session.
Netflix and Warner Bros. Discovery said on Dec. 5 they signed a cash-and-stock deal valuing Warner at $27.75 per share, with closing expected after Warner’s planned spin-off of its Global Networks division in the third quarter of 2026. [5]
Analysts have warned the deal could draw close regulatory scrutiny. “The combined dominant streaming player will be heavily scrutinized,” said PP Foresight analyst Paolo Pescatore. [6]
In a Dec. 19 filing, Netflix said it arranged a $5 billion unsecured revolving credit facility and $20 billion of unsecured delayed-draw term loans to replace part of previously disclosed bridge commitments. A revolving credit facility is a line of credit a company can borrow and repay, while a delayed-draw term loan lets the borrower pull cash later, when needed. [7]
The filing said Netflix may use the facilities to fund the cash portion of the merger price and related fees, and for general corporate purposes. [8]
Reuters has reported Netflix expects $2 billion to $3 billion of annual cost savings by the third year after the deal closes, and that the transaction includes sizeable breakup fees. [9]
Broader market positioning may also matter for large-cap growth names such as Netflix, after a year in which investors have debated whether the rally is too concentrated in tech. Reuters reported investors are watching for rotation into non-tech areas as 2025 draws to a close. [10]
Minutes from the Federal Reserve’s latest meeting, due Tuesday, are a key macro event on the near-term calendar, with investors focused on the path for interest-rate cuts into 2026. The Fed has lowered rates by 75 basis points over its last three meetings of 2025 to a range of 3.50% to 3.75%, Reuters reported. [11]
Netflix’s next scheduled company catalyst is its fourth-quarter results. The company said it will post results and its business outlook on Jan. 20, 2026, and host a live video interview with executives later that day. [12]
Before the next session, traders will be gauging whether year-end portfolio adjustments and thin liquidity amplify moves, a dynamic Reuters flagged as a potential volatility driver around the turn of the year. [13]
Before the next session, Netflix investors will be watching for any updates tied to the Warner transaction — including regulatory developments and the pace of financing — alongside any shifts in expectations for the company’s January earnings outlook. [14]
Before the next session, chart watchers will likely focus on the stock’s near-term range after it traded between $93.28 and $94.67 in the last session, with a break above Friday’s high or a dip below the low often treated as a short-term signal.
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References
1. www.reuters.com, 2. www.reuters.com, 3. ir.netflix.net, 4. www.reuters.com, 5. ir.netflix.net, 6. www.reuters.com, 7. www.sec.gov, 8. www.sec.gov, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. ir.netflix.net, 13. www.reuters.com, 14. www.sec.gov
