New York, Feb 8, 2026, 11:14 EST — The market has closed.
- Netflix wrapped up Friday’s session with a 1.6% gain, ending at $82.20; the stock ticked down a bit in after-hours trading.
- The U.S. Justice Department is scrutinizing Netflix’s behavior as part of its review of the Warner deal.
- This week, traders are watching for U.S. jobs and inflation numbers, looking for any signals on possible rate cuts.
Netflix, Inc. closed out Friday gaining 1.6%, finishing at $82.20. That leaves shares poised for Monday’s session with fresh regulatory uncertainty looming over its move toward Warner Bros Discovery assets. After hours, the stock slipped, changing hands at $82.06. 1
The U.S. Justice Department is probing whether Netflix crossed any anti-competitive lines as it reviews the streamer’s massive $82.7 billion bid for Warner’s studio and streaming arm, according to a Wall Street Journal report. Reuters said a civil subpoena landed at another entertainment firm, asking it to flag any “exclusionary conduct” that might lock in “market or monopoly power.” Netflix responded that, aside from the usual merger review, it hasn’t heard of any broader investigation. “We have not been given any notice” of a monopolization probe, attorney Steven Sunshine told Reuters. 2
This type of headline doesn’t just sway sentiment—it can actually shift the timeline. U.S. markets are staring down a crowded data calendar this week: the closely watched monthly jobs report lands Wednesday, and Friday brings the all-important consumer price index, the market’s inflation touchstone. Angelo Kourkafas, senior global investment strategist at Edward Jones, pointed out that rate expectations have held “remarkably stable” lately. 3
NFLX shares rallied Friday, catching a lift as U.S. stocks bounced back. The Dow broke through the 50,000 mark for the first time, and the S&P 500 added nearly 2%. The Nasdaq climbed even further, topping a 2% gain thanks to a big run in chipmakers. Investors, though, kept debating whether AI-fueled spending is fattening profits or just driving up expenses. 4
Warner shareholders will likely weigh in on the Netflix deal in March, according to Reuters, but that’s still pending a final preliminary proxy. Paramount Skydance is keeping up the pressure with a competing bid, pushing its tender offer out to Feb. 20. 5
NFLX traders are left to sort out if the DOJ’s request points to a prolonged, more difficult review or just the standard stance for a deal of this size. Monday’s tape will be scanning for fresh filings, official word from regulators, or hints that scrutiny could extend past the merger’s outlined terms.
Streaming stocks aren’t moving like classic media plays these days; they’re acting more like bets on regulatory winds. It’s not all about subscriber counts anymore. Investors are watching for signals on pricing muscle, market clout, and what happens to content rights and talent contracts if another wave of consolidation hits the sector.
The bear case is clear enough. A tougher antitrust battle drags out the process, piles on extra costs, maybe even brings structural concessions that make the deal less attractive — and as the clock ticks, the stock gets stuck trading on speculation and regulatory noise.
Macro forces can still override everything else. A big surprise in Wednesday’s jobs data or Friday’s inflation read—anything that shakes up the outlook for rate cuts—could send high-multiple stocks sharply higher or lower, even if there’s no new update from the companies themselves.
Investors are eyeing how Warner and Paramount lay out their next moves, with their deadlines coming up. Headlines from those two could easily feed into Netflix’s risk premium.
Next on the docket: Wednesday brings the U.S. jobs report. CPI lands Friday. After that, investors are eyeing the anticipated March shareholder vote for the Warner deal — it’s the next firm calendar event traders have to work with.
