New York, February 9, 2026, 17:17 EST — After-hours
Netflix, Inc. (NFLX) dropped 0.9% to $81.47 after the bell on Monday, following a session range from $79.90 to $82.55. After-hours action—often jumpy on thin volume—saw NFLX under pressure, even as the S&P 500 and Nasdaq 100 trackers managed gains of roughly 0.5% and 0.8%.
Sellers stepped in as traders watched Netflix’s looming deal involving Warner Bros Discovery’s entertainment business. Warner announced HBO Max’s March 26 debut in the UK and Ireland, detailing both ad-supported and premium pricing tiers. The company also outlined a breakup later this year—if the transaction closes, HBO Max and other entertainment assets would shift to Netflix. 1
Why it matters now: Growth stocks are getting pushed around again by rate speculation, since their valuations lean heavily on future earnings. Traders zeroed in on a New York Fed survey out Monday—one-year inflation expectations fell to 3.1% in January, down from 3.4% in December. That’s something they’re tracking closely, with official inflation and jobs numbers coming up this week. 2
Warner is bringing HBO Max straight to UK consumers for the first time, going after subscribers with what it called a value-focused pitch in a packed field. “It’s a huge thrill to finally bring it all together on HBO Max,” said JB Perrette, chief executive and president of global streaming and games at Warner Bros Discovery. Pricing for UK customers kicks off at £4.99 a month. The service will launch on hbomax.com and through partners like Sky and Prime Video. Pre-registration opens March 12. 3
Netflix isn’t chasing quick subscriber gains with its UK move. It’s sizing up the broader fight as it pushes deeper into a crowded European market, where established streaming players already dominate. The real contest now centers on pricing power, keeping churn in check, and making sure there’s a steady flow of hits—without letting costs get out of hand.
The timing puts extra focus on live sports and major franchises—territory where competitors have doubled down as adding new subscribers has gotten trickier. Warner folding TNT Sports streaming into HBO Max in the UK is another sign of just how much streamers now rely on “must watch” events to keep people from canceling.
The deal is still casting its shadow. If regulators drag their feet on approvals, call for fixes, or start pushing hard on antitrust angles, Netflix shares could stay jumpy—headline-driven, even when trading is slow.
There’s a straightforward operating risk here: adding more services and tiers usually brings heavier discounting and a fresh round of marketing, particularly early on. Should rivals ramp up their own ad tiers or start bundling to defend their turf, pricing power can get shaky—quickly.
On deck: the Labor Department’s January jobs data arrives Feb. 11 at 8:30 a.m. ET, with January CPI numbers set for Feb. 13, also at 8:30 a.m. ET. Both are market movers—Treasury yields, valuations for names like Netflix, all in play. 4
