ETFs For Netflix Earnings

One of the big after-hours events today will be Netflix NFLX, which analysts are expecting to post a profit of 71 cents a share on revenue of $597.5 million. Of course, the issue here isn't just earnings or even the outlook, but what Netflix has to say about subscriber growth and content acquisition costs. Any disappointment on those fronts and Netflix could be poised for a tumble of epic proportions. Assuming the company continues to do what it has been doing and that is beat esimates and see its shares surge higher, traders can play those trends with these ETFs. 1) PowerShares NASDAQ Internet PNQI: Neflix gets an allocation of almost 3.6% in this fund, but even if Netflix falters, top PNQI holdings such as Google GOOG and Amazon AMZN, which are moving in on Netflix's turf, could be there to prop up the ETF. 2) First Trust Dow Jones Internet Index FDN: Netflix accounts for about 3.3% of this ETF. FDN is up over 44% in the past year, but has lost almost 6% in the past week. A bad report from Netflix could be a nail in the coffin (near-term) for FDN. 3) Rydex S&P Midcap 400 Pure Growth ETF RFG: As of the end of November, Netflix was the top holding in RFG with a weight of 4.7%. This is another example of a strong performance that has started to show some signs of weakening recently. Can Netflix light a fire under RFG to keep the good times going?