New York, Jan 19, 2026, 11:11 EST — Market closed
- Netflix shares last changed hands at $88.00, nearly flat from the previous close
- Warner Bros. Discovery’s board has urged shareholders to reject Paramount’s amended offer, throwing their support behind the Netflix deal instead
- Investors shift focus to Netflix’s Tuesday earnings, seeking clues on the 2026 outlook and updates on recent deals
Netflix (NFLX.O) shares slipped slightly to $88.00, down roughly 0.1%, after Warner Bros. Discovery’s board once again urged shareholders to turn down Paramount Skydance’s amended tender offer. The board reaffirmed its support for the existing merger deal with Netflix. 1
U.S. stock markets remain closed for Martin Luther King Jr. Day. The next major event on the calendar is Netflix’s quarterly earnings report, scheduled for Tuesday. The company plans to release its fourth-quarter 2025 results and outlook around 1:01 p.m. Pacific time (4:01 p.m. EST). 2
Why it matters now: risk appetite is fragile as a holiday-shortened week kicks off, with Nasdaq 100 futures slipping and European-listed U.S. tech stocks easing amid new tariff threats. 3
Netflix set its earnings interview for 1:45 p.m. Pacific (4:45 p.m. EST) Tuesday, per its investor events calendar. 4
The Warner Bros. Discovery board’s recent letter raised the stakes in Netflix’s pending deal, warning that Paramount’s offer posed greater financing risks and could saddle WBD shareholders with significant costs if the Netflix agreement fell through.
Traders are focused on Netflix’s 2026 outlook for pricing, advertising, and cash flow. They’ll also watch closely for updates on timing, potential regulatory hurdles, and how the company plans to integrate Warner.
Options traders have priced in an “implied move” averaging roughly plus or minus 8.2% for Netflix following earnings over the past 12 quarters, according to data from Market Chameleon. 5
The setup, however, works both ways. Signs of a softer outlook, disappointing ad traction, or any suggestion that approvals might stall could weigh on the stock—especially if broader markets remain cautious.
Macro noise remains a wildcard. Stephen Innes of SPI Asset Management described it as “not a short-term liquidation story,” but rather “a slow rebalancing story,” in a note addressing the day’s risk-off sentiment. 6
Coming Tuesday after the close: Netflix’s earnings and outlook, followed shortly by a live interview with management — marking the first real test of whether the stock can stay steady amid deal drama and market nerves.
