Here are some of the major companies whose stocks moved on the week’s news.
Netflix
Investors tuned out on Netflix after the streaming giant’s quarterly earnings came in below expectations.
Netflix on Tuesday reported higher quarterly profit and sales, driven by membership growth, price hikes and increased advertising revenue. The “KPop Demon Hunters” streamer said it recorded its best-ever quarter for ad sales.
On the earnings miss, the media giant cited an expense related to a dispute with Brazilian tax authorities. Netflix cut its expected operating margin for the year to 29% from 30% due to the tax issue, but left its full-year revenue expectations unchanged.
Netflix shares sank 10% Wednesday.
Warner Bros. Discovery
Warner Bros. Discovery is putting itself up for sale.
The media behemoth said it is exploring a potential sale of all or some of its media holdings, setting into motion a deal process that could reshape the future of the entertainment industry.
The company said it began reviewing strategic alternatives after being approached about potential deals.
Warner is home to the storied movie and TV studios behind “Sinners,” “Superman” and Harry Potter as well as HBO and cable networks including CNN and TNT.
Warner has received and rebuffed three bids from rival Paramount Skydance, The Wall Street Journal recently reported. Paramount owns Nickelodeon, MTV, Comedy Central and its movie studio, and recently merged with Skydance.
Warner shares soared 11% Tuesday.
Amazon.com
Amazon broke the internet for millions of Americans at the start of the week.
A widespread outage linked to the tech giant’s Amazon Web Services hit many companies early Monday, affecting users of services including Zoom, Slack, Venmo and Instacart.
The effects cascaded across the internet, delaying more than 4,000 flights, knocking out news websites such as The Wall Street Journal, affecting financial transactions and extending into everyday life.
By late afternoon, Amazon said it had restored much of the service that had been knocked offline. The episode turned into one of the longest-ever outages for AWS.
Amazon shares closed 1.6% higher Monday.
Six Flags
An activist investor is teaming up with football star Travis Kelce to push for big changes at Six Flags.
Hedge fund Jana Partners, Kelce and other investors amassed a combined stake of about 9% of the theme-park operator’s shares. They want the company to improve its marketing and the customer experience at its parks—and evaluate a potential sale.
During this past summer, the company has grappled with bad weather, declining attendance, broken rides and construction delays.
Six Flags shares rose 18% Tuesday. Before that, the company’s shares had been down roughly 50% this year.
Mattel
Mattel is hoping for a jolly holiday season.
The maker of Barbie dolls and Hot Wheels cars said U.S. retailers significantly ramped up orders in recent weeks, giving the toy company enough confidence ahead of the holidays to back its outlook for the year.
The recent acceleration at the start of the fourth quarter came after the toy maker said orders slumped in the third quarter, as it posted disappointing earnings and revenue.
Its gross margin fell to 50%, in large part due to rising tariff costs and unfavorable foreign exchange rates.
Mattel shares lost 2.8% Wednesday.
Tesla
A surge of electric-vehicle demand in the third quarter didn’t give Tesla enough of a boost.
The electric-car maker’s net income for the period fell 37%, even as American shoppers raced to buy EVs before a $7,500 federal tax credit expired last month. Tesla’s total revenue grew 12% in the quarter.
The results come ahead of Tesla’s Nov. 6 annual meeting, when shareholders will vote on a new pay package for Chief Executive Elon Musk, potentially worth more than $1 trillion over 10 years.
The company’s finances suffered in the wake of Musk’s embrace of partisan politics last fall, which dented Tesla’s reputation in the U.S. and abroad.
Tesla shares added 2.3% Thursday.
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