Short interest for Netflix gives investors a sense of the degree to which investors are betting on the decline of Netflix's stock. Short interest data is updated every two weeks.

Netflix Stock (NASDAQ:NFLX), Short Interest Report

Netflix

Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with almost 250 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm recently began introducing ad-supported subscription plans, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.

Entertainment

News

General

NFLX

On Thursday before the bell, Warner Bros Discovery Inc (NASDAQ: WBD) reported its first quarter results and came short of estimates.

Streaming Growth Was Not Enough For Warner Bros. Discovery

Markets

Trading Ideas

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock&#39;s price. Do they really matter, though?

Brokers Suggest Investing in Netflix: Read This Before Placing a Bet

Netflix.Unsplash.Roblox.company

Gaming

Media

RBLX

Netflix is bringing new gaming content to Roblox including immersive games based on Stranger Things, One Piece and Rebel Moon.

Netflix Cozies Up To Roblox: Gamers Get &#39;Digital Theme Park&#39; For &#39;Stranger Things,&#39; &#39;One Piece&#39; And More Streaming Hits

Netflix Inc

On Thursday before the bell, Warner Bros Discovery Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) reported its first quarter results and came short of estimates. Earlier this week, it announced it will be teaming up with The Walt Disney Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) to offer a streaming bundle in an effort to further strengthen its positioning in streaming against market leader, Netflix&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>).
<h3>First Quarter Highlights</h3>
For the quarter ended on March 31st, WBD reported revenue dropped&nbsp;7%&nbsp;YoY to&nbsp;$9.96 billion, which was short of LSEG&rsquo;s estimate of&nbsp;$10.231 billion.
WBD&rsquo;s bottom line improved from last year&rsquo;s comparable quarter when it reported a net loss attributable to shareholders&nbsp;of $1.07 billion, or 44 cents per share, to a net loss of&nbsp;$966 million, or 40 cents per share, while LSEG expected a lesser loss of&nbsp;24 cents&nbsp;per share.&nbsp;Adjusted&nbsp;EBITDA&nbsp;were down&nbsp;about&nbsp;20%&nbsp;as they amounted to&nbsp;$2.1 billion.
Dented by lingering effects of&nbsp;last year&rsquo;s&nbsp;Hollywood writers and actors strikes, along with a weak gaming&nbsp;release of the latest iteration of Suicide Squad, the&nbsp;studio segment revenue&nbsp;contracted&nbsp;12%&nbsp;to $2.82 billion.
Fortunately, when it comes to streaming, WBD told an entirely different story.
<h3>Streaming Is Growing</h3>
During the reported quarter, WBD added&nbsp;2 million direct-to-consumer streaming subscribers, with the total now being&nbsp;99.6 million.&nbsp;Streaming revenue modestly increased to&nbsp;$2.46 billion, earnings an adjusted&nbsp;$86 million. But advertising revenue for streaming skyrocketed as it grew a tan impressive rate of&nbsp;70%.
The Disney streaming bundle is WBD&rsquo;s latest attempt to squeeze profitability of its direct-to-consumer platforms that are facing fierce competition. By joining forces with its rivals, like Disney, WBD will be able to better serve price-sensitive consumers and by doing so, challenge the market leader, Netflix.&nbsp;As of this summer,&nbsp;Max, Disney+ and Hulu&nbsp;will be offered in a bundle to consumers this summer. Although nor Disney nor WBD disclosed the pricing, it is known that the bundle will be offered at a discount.&nbsp;
Advertising improved only when it comes to streaming.&nbsp;
Although advertising was strong in streaming, it told an entirely different story when it comes to WBD&rsquo;s TV networks which continued to be weak as a whole. TV networks segment reported revenue tanked&nbsp;8% to $5.13 billion, while advertising dropped as much as 11%.
Therefore, advertising only improved on the&nbsp;digital and streaming&nbsp;front, as the traditional TV segment continues to fall behind.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PARA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$13.50</td>
<td>$58.3K</td>
<td>267</td>
<td>3.7K</td>
</tr>
<tr>
<td>SE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$70.00</td>
<td>$3.7 million</td>
<td>37</td>
<td>3.4K</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$167.50</td>
<td>$28.0K</td>
<td>4.8K</td>
<td>2.8K</td>
</tr>
<tr>
<td>GRND</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$10.00</td>
<td>$88.0K</td>
<td>127</td>
<td>2.0K</td>
</tr>
<tr>
<td>META</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$472.50</td>
<td>$46.3K</td>
<td>1.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$610.00</td>
<td>$55.1K</td>
<td>2.2K</td>
<td>962</td>
</tr>
<tr>
<td>VZ</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$40.00</td>
<td>$87.5K</td>
<td>7.3K</td>
<td>841</td>
</tr>
<tr>
<td>GOOG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$170.00</td>
<td>$97.1K</td>
<td>3.0K</td>
<td>215</td>
</tr>
<tr>
<td>RBLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$30.00</td>
<td>$65.9K</td>
<td>1.6K</td>
<td>198</td>
</tr>
<tr>
<td>TTD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$95.00</td>
<td>$30.6K</td>
<td>690</td>
<td>161</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For PARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on May 17, 2024. This event was a transfer of 898 contract(s) at a $13.50 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $58.3K, with a price of $65.0 per contract. There were 267 open contracts at this strike prior to today, and today 3783 contract(s) were bought and sold. 
• For SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>), we notice a put option trade that happens to be neutral, expiring in 133 day(s) on September 20, 2024. This event was a transfer of 3400 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $3.7 million, with a price of $1110.0 per contract. There were 37 open contracts at this strike prior to today, and today 3400 contract(s) were bought and sold. 
• Regarding GOOGL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), we observe a call option trade with bearish sentiment. It expires in 7 day(s) on May 17, 2024. Parties traded 100 contract(s) at a $167.50 strike. The total cost received by the writing party (or parties) was $28.0K, with a price of $280.0 per contract. There were 4888 open contracts at this strike prior to today, and today 2843 contract(s) were bought and sold. 
• For GRND (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>), we notice a put option trade that happens to be bullish, expiring in 42 day(s) on June 21, 2024. This event was a transfer of 2000 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $88.0K, with a price of $44.0 per contract. There were 127 open contracts at this strike prior to today, and today 2004 contract(s) were bought and sold. 
• Regarding META (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), we observe a call option sweep with bullish sentiment. It expires in 7 day(s) on May 17, 2024. Parties traded 53 contract(s) at a $472.50 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $46.3K, with a price of $875.0 per contract. There were 1101 open contracts at this strike prior to today, and today 1660 contract(s) were bought and sold. 
• Regarding NFLX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), we observe a call option sweep with bullish sentiment. It expires in 7 day(s) on May 17, 2024. Parties traded 51 contract(s) at a $610.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $55.1K, with a price of $1082.0 per contract. There were 2297 open contracts at this strike prior to today, and today 962 contract(s) were bought and sold. 
• Regarding VZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), we observe a put option sweep with bearish sentiment. It expires in 133 day(s) on September 20, 2024. Parties traded 500 contract(s) at a $40.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $87.5K, with a price of $175.0 per contract. There were 7325 open contracts at this strike prior to today, and today 841 contract(s) were bought and sold. 
• For GOOG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), we notice a call option sweep that happens to be bearish, expiring in 133 day(s) on September 20, 2024. This event was a transfer of 83 contract(s) at a $170.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $97.1K, with a price of $1170.0 per contract. There were 3076 open contracts at this strike prior to today, and today 215 contract(s) were bought and sold. 
• Regarding RBLX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), we observe a call option trade with bullish sentiment. It expires in 252 day(s) on January 17, 2025. Parties traded 100 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $65.9K, with a price of $659.0 per contract. There were 1603 open contracts at this strike prior to today, and today 198 contract(s) were bought and sold. 
• Regarding TTD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), we observe a call option trade with bearish sentiment. It expires in 70 day(s) on July 19, 2024. Parties traded 125 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $30.6K, with a price of $245.0 per contract. There were 690 open contracts at this strike prior to today, and today 161 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

GOOG

GOOGL

GRND

PARA

10 Communication Services Stocks With Whale Alerts In Today's Session

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock&#39;s price. Do they really matter, though?
Let&#39;s take a look at what these Wall Street heavyweights have to say about Netflix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Netflix currently has an average brokerage recommendation&nbsp;of 1.91, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 39 brokerage firms. An ABR of 1.91 approximates between Strong Buy and Buy.
Of the 39 recommendations that derive the current ABR, 21 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 53.9% and 5.1% of all recommendations.
Brokerage Recommendation Trends for NFLX
<img alt="Broker Rating Breakdown Chart for NFLX" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/NFLX_05092024.png" style="width:100%" title="" /> 
While the ABR calls for buying Netflix, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every &quot;Strong Sell&quot; recommendation, brokerage firms assign five &quot;Strong Buy&quot; recommendations.
In other words, their interests aren&#39;t always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock&#39;s price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock&#39;s near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABR
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company&#39;s changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is NFLX Worth Investing In?
Looking at the earnings estimate revisions for Netflix, the Zacks Consensus Estimate for the current year has increased 7.5% over the past month to $18.30.
Analysts&#39; growing optimism over the company&#39;s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Netflix.
Therefore, the Buy-equivalent ABR for Netflix may serve as a useful guide for investors.
<a href="https://www.zacks.com/stock/news/2271364/brokers-suggest-investing-in-netflix-nflx-read-this-before-placing-a-bet?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2271364">To read this article on Zacks.com click here.</a>

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is teaming up with gaming company Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) for a digital experience that could excite fans of hit shows<a href="https://www.benzinga.com/topic/stranger-things"> like "Stranger Things."</a>
What Happened: Netflix<a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda"> ended the first quarter</a> with 269.9 million paid subscribers and has been expanding its video game efforts for years.
The streaming giant is teaming up with Roblox with the launch of Nextworld, a new hub inside the gaming platform.
"You can now explore your favorite movies and shows in 3D interactive spaces with the early access launch of Netflix's universe on Roblox, Netxtworld, on May 9," Netflix <a href="https://www.netflix.com/tudum/roblox-nextworld">said</a>.
Netflix called Nextworld "a digital theme park full of characters, Easter eggs, and games."
The new gaming hub features immersive games based on "Stranger Things," "One Piece" and "Rebel Moon."
Games also include content based on shows like "Is It Cake?" and "Cobra Kai."
Gamers can collect objects and wearables from Netflix shows and movies and decorate their own "Fan Pod." The company also said there would be premieres and viewing parties along with "daily content bites" at the Tudum Theater.
Another event will center on the Netflix series "Jurassic World: Chaos Theory," which arrives on May 17.
In a tweet, Roblox highlighted the partnership with Netflix as representative of an iconic duo, similar to peanut butter and jelly.
"With the launch of Netflix Nextworld, fans can immerse themselves in new worlds filled with their favorite shows and characters like never before," Roblox <a href="https://twitter.com/Roblox/status/1788604731448758789">tweeted</a>.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38762725/are-robloxs-woes-temporary-analysts-cut-forecasts-but-are-optimistic-about-outlook">Are Roblox&#8217;s Woes Temporary? Analysts Cut Forecasts But Are Optimistic About Outlook</a>
Why It's Important: Roblox is no stranger to partnering with top brands and the new digital area from Netflix could help with engagement.
Roblox <a href="https://www.benzinga.com/news/earnings/24/05/38730781/roblox-issues-subpar-outlook-stock-tanks-to-yearly-low">ended the first quarter</a> with average daily active users of 77.7 million, which was up 17% year-over-year.
Guidance from Roblox for the second quarter came in below estimates from analysts, sending <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38762725/are-robloxs-woes-temporary-analysts-cut-forecasts-but-are-optimistic-about-outlook">shares down on Thursday.</a>
More partnerships like the one from Netflix could help Roblox show its dominance with the younger age demographics and being the platform of choice to highlight upcoming shows, movies and events.
RBLX Price Action: Roblox shares are up 2% to $31.15 on Friday versus a 52-week trading range of $24.88 to $47.20.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38762725/are-robloxs-woes-temporary-analysts-cut-forecasts-but-are-optimistic-about-outlook">Are Roblox&#8217;s Woes Temporary? Analysts Cut Forecasts But Are Optimistic About Outlook</a>
Photo: Netflix via Unsplash, Roblox via the company

Netflix Cozies Up To Roblox: Gamers Get 'Digital Theme Park' For 'Stranger Things,' 'One Piece' And More Streaming Hits

Despite feeling overwhelmed by the growing number <a href="https://www.benzinga.com/news/24/01/36448164/is-the-streaming-bubble-bursting-significant-portion-of-users-cut-multiple-subscriptions">of streaming platforms,</a> Americans continue to subscribe, and a new survey reveals the most popular choices among middle-income levels compared to others.
What Happened: Even as consumer face financial pressure to reduce spending on streaming subscriptions or switch to more affordable, ad-supported plans, leading streaming companies like Netflix and Disney continue to <a href="https://www.benzinga.com/topic/streaming-stocks">experience subscriber growth.</a>
The leading streaming companies are thriving, with Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>)<a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda"> gaining 9.33 million</a> paid net new subscribers in the first quarter to bring the company to a total of 269.60 million. The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) added 6.3 million Disney+ Core subscribers<a href="https://www.benzinga.com/news/earnings/24/05/38669929/walt-disney-q2-earnings-profit-beat-moderating-parks-growth-password-sharing-crackdown-and-more"> in the second quarter </a>to bring the company to a total of 117.6 million.
Other streaming companies are also seeing growth of their subscribers and operating income for their direct-to-consumer segments.
A <a href="https://pro.morningconsult.com/analysis/income-disparities-widen-consumer-spending">survey </a>from Morning Consult shows that Netflix was the streaming company most likely to be used across three income levels of &lt;$50,000, $50,000 to $99,999, and >$100,000.
Netflix was selected by 71% of the respondents in the $50,000 to $99,999 income level as a platform that they use, compared to 77% of the higher income earners and 62% of the low-income earners.
Hulu ranked second for middle income Americans at 53%. The platform is majority owned by Disney, which also had the third ranked streaming platform with Disney+ used by 47% of middle-income earners.
Peacock ranked fourth at 45% usage by middle-income earners. The streaming platform from Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) almost saw more middle-income American usage than high-income earners (46%).
Roku Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) was selected by 43% of middle-income earners, which was higher than the 40% of high-income earners who said they use the platform. Low-income earners had the highest percentage for the streaming platform at 47%.
Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) was selected by 42% of middle-income earners, beating out rival music streaming platform Pandora (35%), which is owned by Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>).
AppleTV+ from Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) ranked lower at 26% for middle-income earners and had wide gaps between low-income earners (18%) and high-income earners (37%).
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38675021/disney-direct-to-consumer-segment-profits-in-q2-operating-income-modestly-ahead-of-">Disney Direct-To-Consumer Segment Profits In Q2, &#8216;Operating Income Modestly Ahead&#8217; Of Analyst Expectations</a>
Why It's Important: The survey shows that people are more likely to have more streaming platforms if they earn more, which shouldn't be a surprise.
Perhaps the biggest takeaway from the survey is the gaps for several platforms across income levels. For instance, Netflix shows a 15 percentage point difference in usage between low and high-income earners.
Hulu&#8217;s gap is narrower, at seven percentage points. Peacock displays the smallest discrepancy, with only a four percentage point gap and consistent usage across all income groups.
Roku was also a surprise in the survey, as the platform is more likely to be used with lower income earners than with higher income earners.
AppleTV+ had one of the widest gaps, with a 19-point gap from low-income to high-income earners. This could suggest that when it comes to picking a streaming platform, lower-income consumers would rather spend their money on other platforms. This could be perhaps due to Apple having a smaller content library and being one of the newer streaming platforms.
To help offset concerns of too many platforms and prices, several media companies are teaming up to offer bundles of streaming platforms. Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) <a href="https://www.benzinga.com/general/entertainment/24/05/38723093/disney-warner-bros-discovery-to-offer-streaming-bundle-with-disney-hulu-max-this-summer-mor">is teaming up with Disney </a>to offer a bundle of Max, Hulu and Disney+.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38321545/exclusive-streaming-platform-winner-picked-by-benzinga-readers-did-disney-netflix-amazon-pr">EXCLUSIVE: Streaming Platform Winner Picked By Benzinga Readers: Did Disney+, Netflix, Amazon Prime Video Or Max Take Top Honors?</a>
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More Money, More Streams: Netflix, Disney+, AppleTV+ And Hulu See Higher Usage Among Wealthier Americans

<a href="https://variety.com/2024/gaming/news/netflix-roblox-stranger-things-one-piece-1235996261/">https://variety.com/2024/gaming/news/netflix-roblox-stranger-things-one-piece-1235996261/</a>
&nbsp;
Netflix is teaming up with <a href="https://variety.com/t/roblox/">Roblox</a> to launch its own "digital theme park" on the online gaming platform. Dubbed "Nextworld," the web-based universe will feature characters and content from Netflix IP including "Stranger Things," "One Piece," "Cobra Kai" and "Rebel Moon."
The offering debuts in early access Wednesday on Roblox.
"Once you enter Nextworld — which is your central hub in the Netflix universe — you can dive deeper into the series and films you love," Netflix wrote in a blog post. "(Think: A digital theme park full of characters, easter eggs, and games.) Immersive games like ‘Stranger Things: Escape from Hawkins High,' ‘One Piece: East Blue Brawls,' and ‘Rebel Moon: Outskirts Battles' will connect you with your favorite characters in a whole new way. While you're there, say hi to Dustin from ‘Stranger Things,' Luffy from ‘One Piece' and Jimmy from ‘Rebel Moon,' who'll serve as guardians of their respective worlds. Some of them might even guide you through your quests and you never know who else you might encounter."
While Roblox itself is a free online gaming platform, users are able to purchase "Robux," which are in-game currency used to purchase virtual objects.
Netflix's 3D interactive spaces in "Nextworld" on Roblox feature minigames, including one inspired by competition series "Is It Cake?" and one where you can test your karate skills within the Cobra Kai Dojo. Users can go to the "Streamship" within the Roblox world to attend online events like premieres and viewing parties, including the May 17 "Jurassic World: Chaos Theory" preview, and watch daily content bites at the "Tudum Theater."
Per Netflix, "As you venture through Nextworld, you can collect objects and wearables from different shows and movies to decorate your Fan Pod, your own private space that you can keep to yourself or open up to friends. As you build more currency across challenges on Nextworld, you'll be able to expand your pod with even more exclusive items including free limited User-Generated Content (UGC) like a Demogorgon Plushie Head or a One Piece Flag."

"Netflix Launches Roblox 'Digital Theme Park' Featuring 'Stranger Things,' 'One Piece,' 'Cobra Kai' And More" - Variety

Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) initiated the unplanned closure of&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/05/38678051/microsofts-xbox-closes-4-video-game-studios-in-bethesda-restructure" rel="noreferrer noopener">several video-game studios</a>&nbsp;within its Xbox division as part of an ongoing broad cost-cutting strategy.
According to sources familiar with the plans, this week, Xbox offered voluntary severance agreements to producers, quality assurance testers, and other staff at ZeniMax, which Microsoft acquired in 2020 for $7.5 billion.&nbsp;Additional cuts are likely across the Xbox organization, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-08/xbox-studio-closures-microsoft-plans-more-cost-cutting-measures-after-layoffs?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Employees were surprised by Tuesday&#8217;s abrupt closure of three Xbox subsidiaries and the absorption of a fourth.&nbsp;
Among those closed was Tokyo-based Tango Gameworks, known for the acclaimed action game Hi-Fi Rush, which was pitching a sequel.
Xbox president Matt Booty praised Hi-Fi Rush during a town hall meeting on Wednesday.&nbsp;
Booty mentioned that&nbsp;the company&#8217;s studios had been stretched&nbsp;too thin and that the closures aimed to reallocate resources.
Booty clarified that Arkane Austin, the developer behind Prey&#8217;s shutdown, was unrelated to the poor performance of its recent multiplayer game, Redfall. Before closing, Arkane had planned to pitch a new single-player game in the Dishonored series, Bloomberg writes.
Jill Braff, head of ZeniMax studios, expressed hope that the reorganization would enable a greater focus on fewer projects, given the challenge of supporting nine studios worldwide with a lean central team.
Microsoft&#8217;s gaming division has grown significantly through acquisitions, including ZeniMax and Activision Blizzard, which have been worth over $76 billion combined.&nbsp;
The gaming sector has&nbsp;recently experienced extensive layoffs, with significant companies like&nbsp;Sony Group Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>),&nbsp;Electronic Arts Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), and Microsoft&nbsp;reducing their workforces and shuttering subsidiaries.
In February,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36783057/microsofts-major-gaming-shake-up-1-900-layoffs-and-leadership-changes-in-post-acquisition-strategy" rel="noreferrer noopener">Microsoft cut 1,900 jobs</a>, mainly at Activision Blizzard.
The acquisition of Activision Blizzard has increased scrutiny on the Xbox division from Microsoft&#8217;s leadership.&nbsp;
Last week,&nbsp;Take-Two Interactive Software Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38583285/grand-theft-auto-parent-shuts-two-iconic-game-studios-as-part-of-sweeping-layoffs" rel="noreferrer noopener">announced it would close</a>&nbsp;two subsidiaries, Roll7 and Intercept Games, as part of widespread layoffs, affecting about 70 jobs. The company earlier shared plans to cut 5% of its workforce, impacting approximately 600 employees.
Concurrently,&nbsp;Walt Disney Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) have reinvigorated their focus on gaming. Disney invested $1.5 billion in Epic Games, the creator of Fortnite, in February. Netflix expanded its gaming library to 86 titles in 2023 and plans to add 90 more&nbsp;titles&nbsp;in 2024.
Price Action:&nbsp;MSFT shares are trading lower by 0.03% at $410.40 premarket at last check Thursday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Microsoft Shakes Up Xbox Division, Closes Renowned Studios in Major Cost-Cutting Move

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/05/08/final-trades-netflix-nextera-energy-and-iyr.html">Halftime Report Final Trades</a>,&#8221; Joseph M. Terranova of Virtus Investment Partners picked Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
On April 18, Netflix reported first-quarter revenue of $9.37 billion — up 14.8% year-over-year. 
The revenue beat a Street consensus estimate of $9.275 billion, according to data from Benzinga Pro. The company reported earnings per share of $5.28 for the quarter, which beat a Street consensus estimate of $4.51. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38651122/tom-brady-roasted-for-cryptocurrency-investment-in-netflix-special-tom-how-did-you-fall-fo">Tom Brady Roasted For Cryptocurrency Investment In Netflix Special &#8211; &#8216;Tom, How Did You Fall For That? Even Gronk Was Like—Me Know That&#8217;s Not Real Money&#8217;</a>
Netflix added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million.
Also on &#8220;Final Trades,&#8221; Shannon Saccocia of NB Private Wealth named iShares U.S. Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYR#NYSE">IYR</a>) as her final trade.
Karen Firestone of Aureus Asset Management said NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) is now going higher and business is coming back.
On April 23, NextEra Energy posted better-than-expected earnings for its first quarter, reporting adjusted earnings of 91 cents per share, beating market estimates of 73 cents per share. 
On May 7, BMO Capital analyst James Thalacker maintained NextEra Energy with an Outperform and raised the price target from $72 to $78.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Price Action:
<ul>
<li>iShares U.S. Real Estate ETF fell 0.8% on Wednesday.</li>
<li>NextEra Energy shares gained 1.3% to settle at $72.85 during Wednesday's session.</li>
<li>Netflix shares rose 0.6% to settle at $609.47 on Wednesday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38699603/top-2-financial-stocks-that-may-fall-off-a-cliff-in-may">Top 2 Financial Stocks That May Fall Off A Cliff In May</a>
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Netflix, NextEra Energy And More On CNBC's 'Final Trades'

Deep-pocketed investors have adopted a bearish approach towards Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NFLX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 49 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 42% bearish. Among these notable options, 18 are puts, totaling $1,600,516, and 31 are calls, amounting to $1,790,732.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $230.0 and $1110.0 for Netflix, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Netflix's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Netflix's whale trades within a strike price range from $230.0 to $1110.0 in the last 30 days. 
<h3>Netflix Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715193954_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$75.65</td>
<td>$69.5</td>
<td>$72.57</td>
<td>$680.00</td>
<td>$435.4K</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$57.85</td>
<td>$52.5</td>
<td>$55.17</td>
<td>$660.00</td>
<td>$331.0K</td>
<td style="text-align: right;">103</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/10/24</td>
<td>$92.6</td>
<td>$86.15</td>
<td>$89.03</td>
<td>$520.00</td>
<td>$213.6K</td>
<td style="text-align: right;">154</td>
<td style="text-align: right;">66</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/10/24</td>
<td>$87.6</td>
<td>$81.1</td>
<td>$83.96</td>
<td>$525.00</td>
<td>$201.5K</td>
<td style="text-align: right;">155</td>
<td style="text-align: right;">42</td>
</tr>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$88.7</td>
<td>$86.4</td>
<td>$87.55</td>
<td>$700.00</td>
<td>$175.1K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">20</td>
</tr>
</tbody>
</table>

<h3>About Netflix</h3>
Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with almost 250 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm recently began introducing ad-supported subscription plans, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
Having examined the options trading patterns of Netflix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Netflix Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 2,300,733, with NFLX's price up by 0.87%, positioned at $611.26.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 70 days.</li>
</ul>
<h3>Expert Opinions on Netflix</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $674.0.
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $700. </li>
<li>An analyst from Pivotal Research has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $800. </li>
<li>An analyst from Canaccord Genuity has revised its rating downward to Hold, adjusting the price target to $585. </li>
<li>Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Netflix, targeting a price of $600. </li>
<li>An analyst from Macquarie has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $685. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Netflix, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Netflix's Options Frenzy: What You Need to Know

CNBC Halftime Report Final Trades: Netflix, NexaEnergy

On Monday, The Walt Disney Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) surpassed analyst estimates with its fiscal second quarter earnings and provided good news from its streaming arena.&nbsp;Although it is still behind Netflix Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>)&nbsp;on the streaming front, when excluding ESPN,&nbsp;Disney+ and Hulu reported a combined profit for the very first time. However, shares tanked 10% upon the report as overall revenue failed to impress for the fourth straight quarter and Disney guided for a softer third quarter for the experiences segment.
<h3>Second Fiscal Quarter Highlights</h3>
For the March quarter, Disney posted revenue grew 1% YoY to&nbsp;&nbsp;$22.08 billion, coming short of LSEG&rsquo;s estimate of $22.11 billion.
Theme parks continued to do well with&nbsp;U.S. parks and experiences revenue increasing 7% to $5.96 billion. With increased attendance and higher prices at the Hong Kong Disneyland resort, international sales jumped as much as 29%&nbsp;to $1.52 billion. But California resort posted lower profits due to higher labor expenses.&nbsp;
Restructuring and impairment charges pushed Disney to a loss of&nbsp;$20 million, or 1 cent per share, down from last year&rsquo;s comparable quarter&nbsp;profit of $1.27 billion, or 69 cents per share.&nbsp;But&nbsp;adjusted profit of&nbsp;$1.21 per share&nbsp;topped LSEG&rsquo;s expectations of&nbsp;$1.10 cents.
Disney is making progress in catching up to Netflix when it comes to streaming profitability. Streaming business brought in revenue of $6.19 billion.&nbsp;The direct-to-consumer business that includes Disney+ and Hulu went from a loss of $587 million during last year&rsquo;s comparable quarter to an operating income of $47 million. Streaming revenue rose 13% to $5.64 billion.&nbsp;Disney+ core subscribers also grew by&nbsp;6 million, with the Netflix rival now having 117.6 million global customers.&nbsp;However, when adding ESPN+ into the equation, the streaming businesses lost $18 million, but it improved significantly from last year&rsquo;s comparable quarter when the loss amounted to $659 million.
On a less bright note,&nbsp;Content sales, licensing and other revenue&nbsp;that includes box office, tanked 40% to $1.39 billion.
<h3>Outlook</h3>
Disney warned that current quarter&rsquo;s results for the parks and experiences business will be weighed down by higher expenses and attendance normalization following a post-pandemic demand surge.&nbsp;
Also for the current quarter, Disney guided for softness in the overall streaming business due to its platform in India, Disney+Hotstar.
Still, Disney expects its combined streaming segment to reach profitability in the fourth quarter and become a significant growth driver, with further improvements in profitability in fiscal 2025.
The streaming milestone came none too soon as the traditional TV networks business continues to fade into history. Iger&rsquo;s&nbsp;turnaround and growth initiatives that were set in motion last year to revive the world&rsquo;s biggest entertainment company are bringing positive results.&nbsp;With entertainment streaming finally reaching quarterly profitability, Disney is on track to achieve profitability in its combined streaming businesses in the fourth quarter as it continues its efforts to catch up to Netflix.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Disney Reaches Profitability In Entertainment Streaming

Walt Disney Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO&nbsp;Bob Iger&nbsp;announced a global <a href="https://www.benzinga.com/general/entertainment/24/04/38111752/disneys-netflix-like-password-sharing-crackdown-begins-this-june-as-bob-iger-tries-to-incre">crackdown on password-sharing</a>, citing&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) as the &#8220;gold standard&#8221; in terms of streaming. 
What Happened: During the <a href="https://www.benzinga.com/news/earnings/24/05/38669929/walt-disney-q2-earnings-profit-beat-moderating-parks-growth-password-sharing-crackdown-and-more">second quarter earnings</a> conference call on Tuesday, Iger said that Disney plans to implement the new policy in select markets starting next month, with a global rollout scheduled for September. &#8220;We feel quite bullish about it,&#8221; he stated. 
The move is expected to contribute to Disney&#8217;s future growth, Iger noted, citing Netflix&#8217;s success with a similar initiative. 
&#8220;We&#8217;re heartened by the results that Netflix has delivered in their password-sharing initiative and believe that it will be one of the contributors to growth,&#8221; he said, adding, &#8220;I think it&#8217;s also important to note, Netflix is in many respects a gold standard when it comes to streaming.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/05/38547111/bob-iger-started-as-a-nobody-at-abc-for-150-a-week-and-rose-to-become-disney-ceo-5-lessons-">Bob Iger Started As A Nobody At ABC For $150 A Week And Rose To Become Disney CEO: 5 Lessons From His Incredible Journey That Can Help Advance Your Career</a>
The Disney CEO went on to say that when it comes to programming, their offerings stand out. They boast an impressive array of high-quality content spanning ESPN, Disney+, and Hulu. 
&#8220;What we&#8217;re building is the technology that Netflix has had in place and has been building for well over a decade to improve the business from a bottom-line perspective,&#8221; he stated. 
Why It Matters: Disney&#8217;s decision to crack down on password sharing aligns with a broader industry trend, as streaming platforms like&nbsp;Netflix, YouTube, and&nbsp;Hulu&nbsp;have also&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/02/36882188/hulu-joins-streaming-giants-netflix-disney-and-youtube-in-password-sharing-crackdown">implemented&nbsp;similar measures</a> to curb password sharing.
In January earlier this year, Netflix expressed its satisfaction with the <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/01/36751622/netflixs-co-ceo-says-thrilled-with-password-sharing-crackdown-sees-positive-impact-">outcomes of its efforts to curb password-sharing</a>, citing heightened engagement levels and a surge in new user registrations as a result. Netflix's co-CEO,&nbsp;Ted Sarandos said, &#8220;Our engagement is a bit impacted by our paid sharing. Think about it like fewer households using the same account.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38278466/netflix-q1-earnings-preview-subscriber-growth-potential-price-increase-ad-tier-plan">Following Netflix&#8217;s first-quarter earnings</a> report in April, Macquarie analyst&nbsp;Tim Nollen noted, &#8220;Netflix&#8217;s password-sharing crackdown on the heels of its ad tier launch helped drive nearly 30m sub adds in FY23.&#8221;
Meanwhile, Disney&#8217;s Q2 earnings showed a 1% year-on-year revenue growth to $22.08 billion, slightly below the $22.11 billion consensus. The company&#8217;s adjusted EPS of $1.21, however, exceeded the $1.09 consensus. 
The earnings report also highlighted a 5% year-on-year decline in Entertainment revenue to $9.8 billion, a 2% year-on-year growth in Sports revenue to $4.3 billion, and a 10% year-on-year increase in Experiences revenue to $8.4 billion.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Bob Iger Says This Streaming Platform Is The Gold Standard, Praises Rival For Cracking Down On Password Sharing: 'We're Heartened By The Results That Netflix Has Delivered'

Sony Group Corp&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) shares experienced a significant drop, the largest in nearly three months, following its&nbsp;<a href="https://www.benzinga.com/news/24/05/38598651/sony-apollo-make-26b-offer-for-paramount-report" target="_blank" rel="noreferrer noopener">joint $26 billion bid</a>&nbsp;with&nbsp;Apollo Global Management Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) to purchase American multinational mass media and entertainment conglomerate&nbsp;Paramount Global&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>).&nbsp;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07033115/newplot-3.png" alt="" class="wp-image-325328" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07033115/newplot-3.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07033115/newplot-3-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The offer has sparked concerns about Sony&#8217;s financial capacity to handle the acquisition, as the proposed deal exceeds Sony&#8217;s current cash reserves.&nbsp;
Despite the concerns, market analysts suggest that more apparent financing plans could shift focus to the deal&#8217;s potential benefits, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-07/sony-shares-fall-as-offer-for-paramount-spurs-financing-concerns?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Sony, which has about ¥1.5 trillion ($9.7 billion) in cash and equivalents, is contemplating a majority stake in the venture, with Apollo participating as an investor. However, the transaction involves a substantial premium over Paramount&#8217;s existing market value and debt, leading some analysts to question the strategic fit of the acquisition.
Additionally, the deal might attract regulatory scrutiny, especially concerning the CBS channel included in the acquisition, which foreign entities cannot own.&nbsp;
Meanwhile, prior reports indicated Paramount Global and Skydance Media were nearing a merger,&nbsp;<a href="https://www.benzinga.com/m-a/24/04/38458769/paramount-skydance-merger-talks-heat-up" target="_blank" rel="noreferrer noopener">valuing Skydance at $5 billion</a>. Paramount&#8217;s merger plans shocked analysts who consider the deal positioned to mark the end of&nbsp;Shari Redstone‘s control over <a href="https://www.benzinga.com/news/24/04/38092842/expert-says-paramount-global-reportedly-snubbing-26b-offer-from-apollo-global-doesnt-make-sense">the media conglomerate</a>.
Meanwhile, Sony&nbsp;is <a href="https://www.benzinga.com/news/24/04/38312553/sonys-latest-bravia-series-elevates-at-home-streaming-with-advanced-picture-settings-and-ai-features">also focusing on</a>&nbsp;upgrading the Bravia television line to tap the streaming enthusiasts. Streaming titans&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and&nbsp;Walt Disney Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+ are churning out more content across the U.S., Canada, the U.K., Mexico, and Germany to tap the rising streaming viewership.
Sony held ¥2.02 trillion in cash and equivalents as of its <a href="https://www.benzinga.com/news/earnings/24/02/37123691/sony-stock-gains-after-it-sets-stage-for-financial-divisions-2025-ipo">fiscal second quarter</a>.
PARA stock lost 22% in the last 12 months. SONY gained 3%.
Investors can gain exposure to SONY via WBI BullBear Quality 3000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBIL#NYSE">WBIL</a>) and BlackRock Large Cap Core ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLCR#NASDAQ">BLCR</a>).
Price Action:&nbsp;SONY shares closed higher by 0.35% at $84.84 on Monday. PARA shares closed higher by 3.10% at $13.29.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Sony's Bold $26B Paramount Bid Raises Eyebrows: Can They Finance It?

Legendary NFL quarterback Tom Brady was roasted by former teammates, comedians and friends during a live Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a href="https://www.benzinga.com/general/entertainment/24/04/38413496/tom-brady-to-be-roasted-in-live-netflix-special-nfl-goat-becomes-groat-in-streaming-giants-">streaming special Sunday.</a>
Among the topics discussed were Brady's career, unwillingness to retire, his divorce from Gisele Bündchen and various NFL controversies like "Deflategate." The topic of cryptocurrency drew one of the biggest reactions from the crowd and social media.
What Happened: Brady previously served as a brand ambassador for cryptocurrency trading platform FTX. The company, once valued at $32 billion, <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29681030/ftx-files-for-chapter-11-bankruptcy">announced bankruptcy in 2022 </a>and rattled the cryptocurrency market.
Brady's endorsement of FTX and investment in the company was involved in several jokes during Sunday's live "The Greatest Roast of All Time: Tom Brady" event on Netflix.
The event took place at the Kia Forum in California.
"You're saying ‘Guys, why didn't we go to the Crypto.com Arena downtown?'" roast host Kevin Hart said.
Hart said the reason was to not remind fans about Brady's past cryptocurrency experiences.
"He f&#x2A;&#x2A;&#x2A;ed those people…F&#x2A;&#x2A;&#x2A;ed ‘em good, didn't he."
Comedian Nikki Glaser also got in a zing on Brady and his past relationship with FTX.
"Tom also lost $30 million in crypto. Tom, how did you fall for that? I mean, even Gronk was like me know that's not real money," Glaser said, referencing Brady's former teammate Rob Gronkowski who is often made fun of for his intelligence.
The joke was met with a roar of laughter from the crowd and also on stage from several participants including Hart and Gronkowski. Social media quickly shared the joke and called it one of the best from the roast.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35037305/tom-brady-grapples-with-sam-bankman-fried-ftx-betrayal-he-tricked-me-im-angry">Tom Brady Grapples With Sam Bankman-Fried FTX Betrayal: &#8216;He Tricked Me, I&#8217;m Angry&#8217;</a>
Why It's Important: Brady is one of several celebrities<a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33156403/tom-bradys-association-with-collapsed-ftx-exchange-left-him-with-huge-losses-heres-how-muc"> associated with FTX</a> that has been named in lawsuits.
Brady was paid a reported $30 million for his partnership with the company. The investment, which consisted of equity in the company, has been made mostly worthless after the collapse of FTX.
The NFL great <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29709880/tom-brady-twitter-profile-picture-interception-no-more-bitcoin-laser-eyes-could-it-be-due-">previously had "laser eyes"</a> on his X, formerly known as Twitter, profile picture. In November 2022, Brady removed the picture, which came after FTX declared bankruptcy and more than 550 days after sporting the pro-Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) look.
During the roast of Brady, many memorable topics were covered, including his promotion of FTX—a subject the former NFL quarterback would likely prefer to forget, given the company&#8217;s troubled history.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/01/30362476/brady-b-ndchen-kraft-and-this-billionaire-hedge-fund-manager-hold-ftx-shares-heres-how-muc">Brady, Bündchen, Kraft And This Billionaire Hedge Fund Manager Hold FTX Shares: Here&#8217;s How Much</a>
Photo: Shutterstock

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Tom Brady Roasted For Cryptocurrency Investment In Netflix Special: 'Tom, How Did You Fall For That? Even Gronk Was Like—Me Know That's Not Real Money'

<ul>
<li>Netflix experienced a significant 8% drop in its stock price following its Q1 earnings, yet the stock has shown resilience and is rebounding.</li>
<li>After stabilizing around $550, Netflix&#39;s stock has begun its recovery suggesting potential for further growth.</li>
</ul>
Netflix Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) stock performance recently displayed how unpredictable the stock market can be after earnings reports. Despite a sharp 8% drop in its stock price following the Q1 earnings announcement on April 18th, Netflix is bouncing back.
Even though the stock price fell initially, Netflix actually did better than expected, with earnings per share of $5.28 beating the estimate of $4.52. It&#39;s quite common for stock prices to unpredictably swing up or down after earnings reports.
In Netflix&#39;s case, the drop was surprising given the positive earnings report, highlighting how financial markets can react in unexpected ways. Nevertheless, the strong earnings are starting to have an effect.
Netflix&#39;s stock stabilized and began to recover. It found solid support around the $550 level, which helped the stock start to climb back up towards $600, making up for the post-earnings dip.
As of early May, the stock has bounced back, showing an 8% increase from its recent low, and is now up 21% year-to-date. Looking ahead, Netflix&rsquo;s stock appears ready for more growth.
The all-time high of $700 in November 2021 is an important marker. Even though this peak hasn&rsquo;t been exceeded yet, the current upward trend hints that the stock is slowly moving towards this level again.
<img alt="2024-05-06_17-56-08.jpg" src="https://www.benzinga.com/files/u517520/2024-05-06_17-56-08.jpg" style="height:309px; width:624px" />
If the stock can break through this high, it could lead to consistent new record highs, showing that investors are again confident about the company&#39;s value and growth potential.
After the closing bell on Friday, May 3, the stock closed at $579.34, trading up by 2.47%.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Netflix's Stock Overcame An Unexpected Earnings Plunge To Chart A Surprising Recovery As It Edges Closer To Surpassing Record Highs

Bull of the Day: Netflix

The 15-month bull run of U.S. stock markets suffered a surprise setback in April. The Dow plunged 5%, marking its worst monthly performance since September 2022. The S&amp;P 500 slid 4.2% and the Nasdaq Composite tumbled 4.4%. All three major stock indexes terminated a five-month winning streak. April is historically known as being favorable to Wall Street investors.
We believe, April&#39;s meltdown is nothing but a bull market correction and this time a welcome one. After a disappointing month, May opens a golden opportunity to enter the equity market for those investors suffering from the FOMO (fear of missing out) syndrome. Finally, recently released economic data boosted market participants&#39; confidence in equities.
<h3>Resilient Labor Market Shows Signs of Softness</h3>
The Department of Labor reported that the U.S. economy added 175,000 jobs in April, missing the consensus estimate of 200,000. Job additions in March were revised upward by 12,000 while those of February were revised downward by 34,000.
The unemployment rate increased to 3.9% in April, compared with the consensus estimate and March&#39;s data of 3.8%. April marked the highest level since January 2022. Moreover, real unemployment rate (including discouraged workers and those holding part-time jobs for economic reasons) edged up to 7.4%, its highest level since November 2021. The labor force participation rate was unchanged at 62.7% in April.
Month over month, the average hourly earnings rate dropped to 0.2% in April, compared with the consensus estimate and March&#39;s data of 0.3%. Year over year, the wage rate increased 3.9% in April, below the consensus estimate of 4%. The average workweek decreased to 34.3.
<h3>U.S. Economy is Cooling &nbsp;</h3>
The Department of Commerce reported that U.S. GDP grew at a 1.6% annualized rate in first-quarter 2024, well below the consensus estimate of 2.5%. Moreover, the Institute of Supply Management reported that both manufacturing and services PMIs (purchasing managers&#39; index) contracted in April.
The manufacturing PMI for April came in at 49.2% and that of services PMI was 49.4%. Any reading below 50% indicates contraction in activities. The manufacturing PMI expanded in March after 16 consecutive months of contraction. It again contracted in April. The services PMI contracted in April after 15 successive months of expansion.
<h3>Expectations of Interest Rate Cut Rise &nbsp;</h3>
Following the release of the April&#39;s nonfarm payrolls, the CME FedWatch shows a 67.4% probability that the central bank will cut the benchmark lending rate by 25 basis points in the September FOMC meeting. The interest rate futures tool also shows a massive 91.5% probability that the Fed will cut rate by 50 basis points. Notably, the Fed fund rate currently stays within the range of 5.25-5.5% since July 2023.
On May 1, Fed Chairman Jerome Powell categorically denied the resumption of the interest rate hike regime in his post-FOMC meeting statement. Moreover, the FOMC voted to ease the pace at which it is reducing bond holdings on the central bank&#39;s gigantic balance sheet. The Fed started this program in June 2022, which was known as &quot;quantitative tightening.&quot; Its latest decision could be viewed as an incremental loosening of monetary policy.
<h3>A Goldilocks Environment?</h3>
A Goldilocks scenario is characterized as continuous economic growth but not as much a rapid pace to inflate the aggregate price level to such an extent that the central bank is compelled to tighten monetary policies.
The U.S. economy has cooled but is growing at a pace similar to that of the pre-pandemic level. The labor market shown the signs of crack but not at an alarming pace. The peak inflation rate is far behind us. Finally, there are no signs of any near-term recession. Consequently, this is a golden opportunity to enter U.S. stock markets.
<h3>Our Top Picks</h3>
We have narrowed our search to five U.S. corporate behemoths (market capital &gt; $100 billion) that have strong growth potential for 2024. These stocks have seen positive earnings estimate revisions in the last 30 days.
Further, stock prices of these companies have double-digit upside potential in the near-term. Finally, each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy).
The chart below shows the price performance of our five picks in the past three months.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ae/66194.jpg?v=1632210141" /> 
Image Source: Zacks Investment Research
Alphabet Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) first-quarter results were driven by solid momentum in the cloud business. Further, improving Search performance on the back of major Search updates, was a positive. Also, the strength in YouTube favored the stock. Notably, a robust cloud division remains the key catalyst for GOOGL.
Expanding data centers will continue to bolster GOOGL&#39;s presence in the cloud space. Strengthening generative AI capabilities should aid business growth in the long term. GOOGL&#39;s deepening focus on the wearables category remains a tailwind. Expanding presence in the autonomous driving space is a plus.
Zacks Rank #1 Alphabet has an expected revenue and earnings growth rate of 15.1% and 30.5%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 11.5% over the last seven days. The average price target represents an increase of 12.6% from the last closing price of $167.24.
Netflix Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) added 9.33 million paid subscribers globally in first-quarter 2024, with a rise of 1% in average revenue per subscription. NFLX attributed the robust top-line growth to its paid subscription-sharing offering (part of its password-sharing crackdown), recent price changes and the strength of its business in general.
NFLX is expected to continue dominating the streaming space, courtesy of its diversified content portfolio, which is attributable to heavy investments in the production and distribution of localized and foreign-language content.
Zacks Rank #1 Netflix has an expected revenue and earnings growth rate of 14.7% and 52.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.9% over the last seven days. The average price target represents an increase of 13.6% from the last closing price of $579.34.
Amazon.com Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) is gaining on solid Prime momentum owing to ultrafast delivery services and a strong content portfolio. Strengthening relationship with third-party sellers is a positive. Additionally, the strong adoption rate of AWS is aiding AMZN&#39;s cloud dominance. An expanding AWS services portfolio is continuously helping AMZN in gaining momentum among customers.
AMZN&#39;s strong global presence and solid momentum among the small and medium businesses remain tailwinds. Growing capabilities in grocery, pharmacy, healthcare and autonomous driving are the other positives. Deepening focus on generative AI is a major plus.
Zacks Rank #2 Amazon.com has an expected revenue and earnings growth rate of 11% and 56.6%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 10.7% over the last seven days. The average price target represents an increase of 16% from the last closing price of $186.21.
ServiceNow Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/now#NYSE">NOW</a>) has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. NOW had 1933 total customers with more than $1 million in annual contract value at the end of the first quarter. NOW had eight deals greater than $5 million in net new ACV, and four deals of more than $10 million.
NOW closed 59 deals greater than $1 million net new ACV. The number of customers contributing more than $20 million or more grew 50% year over year. Generative AI deals continued to gain traction with record-breaking net new ACV for Pro Plus, making it the fastest-selling product in NOW&#39;s history.
Zacks Rank #2 ServiceNow has an expected revenue and earnings growth rate of 21.3% and 25.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.9% over the last 30 days. The average price target represents an increase of 19% from the last closing price of $716.65.
Boston Scientific Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>) is seeing strength across target markets despite macroeconomic concerns, currency headwinds and related cost inflation. Strong worldwide demand for BSX&#39;s GI and pulmonary treatment options, traction in Europe for its next generation WATCHMAN FLX, as well as contribution from accretive acquisitions are important drivers.
The Pain and Brain franchisees of BSX are expected to gain solid traction in 2024 banking on the strong execution of core growth strategies. The EP arm received a strong boost on the FDA approval for FARAPULSE.
Zacks Rank #2 Boston Scientific has an expected revenue and earnings growth rate of 12.3% and 13.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.1% over the last 30 days. The average price target represents an increase of 12.2% from the last closing price of $72.85.
<a href="https://www.zacks.com/stock/news/2268666/a-golden-opportunity-to-enter-u-s-stock-markets-5-top-picks?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2268666">To read this article on Zacks.com click here.</a>

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AMZN

A Golden Opportunity to Enter U.S. Stock Markets: 5 Top Picks

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/05/02/final-trades-samsara-prologis-and-the-xle.html">Halftime Report Final Trades</a>,&#8221; Stephen L. Weiss of Short Hills Capital Partners said Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is <a href="https://www.benzinga.com/general/entertainment/24/04/38510569/the-netflix-effect-how-drive-to-survive-is-diversifying-f1s-fanbase">back on its way</a>.
On April 18, the streaming service reported first-quarter revenue of $9.37 billion — up 14.8% year-over-year. The revenue beat a Street consensus estimate of $9.275 billion, according to data from Benzinga Pro. 
The Los Gatos, California-based company reported earnings per share of $5.28 for the quarter, which beat a Street consensus estimate of $4.51.
Kevin&nbsp;Simpson of Capital Wealth Planning said The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) has a 2.6% dividend yield.
The Home Depot is expected to hold its first-quarter earnings conference call on Tuesday, May 14. Analysts expect the company to report quarterly earnings at $3.6 per share, up from $3.4 per share in the year-ago quarter. Home Depot is projected to post revenue of $36.67 billion for the quarter.
On April 11, Home Depot will continue its relationship with Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Cloud to help customers in their home improvement projects. The two companies have collaborated closely since 2015 to innovate retail technology, whether in-store, online, or most often, a <a href="https://www.benzinga.com/news/24/04/38202786/home-depot-extends-google-cloud-partnership-to-include-ai-capabilities">blend of the two interactions.</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
Shannon Saccocia of NB Private Wealth named iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) as her final trade.
Price Action:
<ul>
<li>Netflix shares rose 2.5% to close at $579.34 on Friday.</li>
<li>iShares U.S. Basic Materials ETF gained 0.9% during Friday's session.</li>
<li>Home Depot shares rose 2.2% to settle at $342.85 on Friday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>
Image: Shutterstock

iShares Trust Dow Jones US Basic Materials Sector Index Fund

Netflix, Home Depot And More On CNBC's 'Final Trades'

WIIM

Netflix shares are trading higher shares are trading amid overall market strength.

Whales with a lot of money to spend have taken a noticeably bullish stance on Netflix.
Looking at options history for Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) we detected 47 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 21 are puts, for a total amount of $1,361,755 and 26, calls, for a total amount of $1,612,915.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $360.0 to $1100.0 for Netflix over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Netflix options trades today is 523.4 with a total volume of 3,340.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Netflix's big money trades within a strike price range of $360.0 to $1100.0 over the last 30 days.
<h3>Netflix Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714760222_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$29.25</td>
<td>$28.9</td>
<td>$28.9</td>
<td>$570.00</td>
<td>$289.0K</td>
<td>2.0K</td>
<td style="text-align: right;">384</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$93.5</td>
<td>$92.55</td>
<td>$93.0</td>
<td>$500.00</td>
<td>$186.0K</td>
<td>34</td>
<td style="text-align: right;">21</td>
</tr>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$533.65</td>
<td>$530.2</td>
<td>$531.87</td>
<td>$1100.00</td>
<td>$159.5K</td>
<td>0</td>
<td style="text-align: right;">3</td>
</tr>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$52.0</td>
<td>$50.35</td>
<td>$52.0</td>
<td>$550.00</td>
<td>$156.0K</td>
<td>18</td>
<td style="text-align: right;">31</td>
</tr>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$53.3</td>
<td>$52.9</td>
<td>$53.3</td>
<td>$615.00</td>
<td>$127.7K</td>
<td>164</td>
<td style="text-align: right;">8</td>
</tr>
</tbody>
</table>

<h3>About Netflix</h3>
Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with almost 250 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm recently began introducing ad-supported subscription plans, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
<h3>Current Position of Netflix</h3>
<ul>
<li>With a trading volume of 2,105,051, the price of NFLX is up by 2.1%, reaching $577.04.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 75 days from now.</li>
</ul>
<h3>What The Experts Say On Netflix</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $663.0.
<ul>
<li>An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $725. </li>
<li>An analyst from Benchmark downgraded its action to Sell with a price target of $440. </li>
<li>An analyst from CICC has revised its rating downward to Outperform, adjusting the price target to $650. </li>
<li>An analyst from B of A Securities has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $700. </li>
<li>An analyst from Pivotal Research persists with their Buy rating on Netflix, maintaining a target price of $800. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Netflix with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
One of the biggest mistakes an investor can make during earnings season is assuming that just because a stock went down, the company reported bad quarterly numbers.&nbsp;



That isn&rsquo;t always the case.&nbsp;



Just consider: Arm Holdings (<a href="https://investorplace.com/stock-quotes/arm-stock-quote/">ARM</a>).&nbsp;



The AI chip designer reported quarterly earnings last night. And ARM stock dropped in response. Obviously, that&rsquo;s because the firm released bad numbers, right?&nbsp;



Wrong.&nbsp;







<h2>ARM: Stellar Earnings Still Preempt a Slide</h2>



Across the board, Arm beat estimates &ndash; on revenues, gross profits, operating profits, and earnings per share.&nbsp;



Revenues rose a very robust 47% in the quarter. Gross margins clocked in at an impressive 95%. Operating margins expanded healthily to 42%. Operating profits hit a record high. And management expects more of the same this coming year &ndash; over 20% revenue and profit growth.&nbsp;



Indeed, Arm reported fabulous earnings. The stock only dropped because investors had lofty expectations going into the report. And the firm&rsquo;s great numbers still couldn&rsquo;t live up to those lofty expectations.&nbsp;



But let&rsquo;s focus on the forest through the trees here.&nbsp;



Regardless of the one-day stock price reaction, Arm is growing revenues at a nearly 50% clip. And what&rsquo;s driving all that growth? The AI Boom.&nbsp;



Companies are increasingly looking to build new AI applications, products, and services. And that first requires building AI chips to run those applications, products, and services.&nbsp;



As a result, companies are spending boatloads of cash building those chips. And Arm is winning in that process.&nbsp;



The big takeaway for us? The AI Boom is firing on all cylinders.&nbsp;



That&rsquo;s why Arm is expected to grow revenues by nearly four-fold &ndash; and earnings per share by nearly five-fold &ndash; over the next 10 years.&nbsp;



<a href="https://investorplace.com/wp-content/uploads/2024/05/image-80.png"><img width="1579" height="722" src="https://investorplace.com/wp-content/uploads/2024/05/image-80.png" alt="" /></a>So, don&rsquo;t let the headlines or short-term price action spook you out of a great long-term AI investment like ARM. We think the stock will be above $200 within a few short years.&nbsp;



Though, as this earnings season made clear, <a href="https://secure.investorplace.com/?cid=MKT788713&amp;eid=MKT802757&amp;step=start&amp;plcid=PLC208446">it&rsquo;s certainly not the only AI stock with explosive potential&hellip;</a>







<h2>The Final Word</h2>



To us, this earnings season has unequivocally proven that the AI Boom is the &ldquo;real deal.&rdquo;&nbsp;



Everyone from Microsoft (<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) to Alphabet (<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) to Meta (<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>) is spending an incredible amount of money to build out next-gen AI offerings.&nbsp;



In time, this new generation of AI applications, products, and services will become ubiquitous &ndash; and we&rsquo;ll be living in a world dominated by AI.&nbsp;



Between now and then, <a href="https://secure.investorplace.com/?cid=MKT788713&amp;eid=MKT802757&amp;step=start&amp;plcid=PLC208446">the best AI stocks will absolutely soar</a> &ndash; just like the best internet stocks did in the 2010s.&nbsp;



Indeed, as Amazon&rsquo;s (<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) internet-powered shopping app took over the retail industry in the 2010s, AMZN stock soared nearly 1,300%. Similarly, as Netflix&rsquo;s (<a href="https://investorplace.com/stock-quotes/nflx-stock-quote/">NFLX</a>) internet-powered streaming app took over the entertainment industry in the 2010s, NFLX stock rocketed more than 4,000%.&nbsp;



Now with the AI Boom of the 2020s at our door, we think investors have a second chance at creating that type of wealth.&nbsp;



You just have to know what <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a> to buy this time around.&nbsp;



For that, we turn to the next wave of the AI Boom &ndash; <a href="https://secure.investorplace.com/?cid=MKT788713&amp;eid=MKT802757&amp;step=start&amp;plcid=PLC208446">robotics.</a>&nbsp;



The AI Boom&rsquo;s first wave was all about AI software like ChatGPT. And now it seems that wave has come and gone. The next one is approaching, and it&rsquo;s all about integrating AI software into robots to automate tasks.&nbsp;



This probably sounds like mere science fiction, I know. But everyone from Elon Musk to Jeff Bezos to OpenAI&rsquo;s Sam Altman is investing in robotics these days.&nbsp;



This is where the smart money is shifting right now. So, if you want to stay ahead of the game, it&rsquo;s time to shift with them.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT788713&amp;eid=MKT802757&amp;step=start&amp;plcid=PLC208446">Learn all about our favorite AI robotics stocks to buy right now for enormous returns.</a>



On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.



P.S. You can stay up to speed with Luke&rsquo;s latest market analysis by reading our Daily Notes! Check out the latest issue on your&nbsp;<a href="https://investorplace.com/innovationinvestor/">Innovation Investor</a>&nbsp;or&nbsp;<a href="https://investorplace.com/earlystageinvestor/">Early Stage Investor</a>&nbsp;subscriber site.
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The streaming wars are far from over, with numerous media and tech firms looking to grab a slice of the action and a bit of market share from the great Netflix (NASDAQ:<a href="https://investorplace.com/stock-quotes/nflx-stock-quote/">NFLX</a>). As it turns out, it&rsquo;s not so easy to thrive in the content game, especially as more streamers pave the way for perhaps the biggest foe to the streaming giants: churn.



As the top streamers begin to experience slowed growth, the key will be retaining the many subscribers brought on in recent years. Undoubtedly, a number of said subscribers likely were drawn in by a few free month promos in addition to new content. With many such promotions long since ended, the content slate needs to be fresh enough to stop customers from hitting the pause button. As it turns out, it&rsquo;s tough to grow and retain without spending huge sums on content generation. 



Though the content game is not an easy one to play (unless you&rsquo;ve got deep pockets), I do think some streamers are better positioned than others to stay ahead in the streaming industry in the next three years. Here are the <a href="https://investorplace.com/industries/communications/media/streaming/">streaming stocks</a> to watch.



<h2>Netflix (NFLX)</h2>



<a href="https://investorplace.com/wp-content/uploads/2019/02/NetflixEnvelope.jpg"><img width="300" height="153" src="https://investorplace.com/wp-content/uploads/2019/02/NetflixEnvelope-300x153.jpg" alt=""></a>Arguably, Netflix has already won the streaming war, with many of its streaming rivals now under serious pressure. Perhaps Disney (NYSE:<a href="https://investorplace.com/stock-quotes/dis-stock-quote/">DIS</a>) CEO Bob Iger put it best, saying Netflix is the &ldquo;gold standard&rdquo; when it comes to streaming content. But how did Netflix get here?



Through the years, the company really stepped outside its comfort zone to bring intriguing, unique and even ambitious content (&ldquo;3 Body Problem&rdquo; was an ambitious undertaking) to viewers. Though not every piece of content has stuck, Netflix has essentially become an entertainment staple that I believe has the greatest ability to raise prices, regardless of the circumstances. Whether it&rsquo;s due to inflation, to beef up the content budget or to increase profitability, Netflix price hikes are just something we&rsquo;ve had to bite our lip and pay.



Over the past two years, Netflix has demonstrated its pricing power, which has helped the company stage an epic comeback. Shares are now up over 245% from their 2022 lows. And though 42.3 times trailing price-to-earnings (P/E) is on the expensive side, I do think it&rsquo;s worthy of the premium, especially as it stays <a href="https://seekingalpha.com/news/4100036-netflix-and-spotify-remain-teen-favorites-prime-catching-up">relevant among teen audiences.</a>



<h2>Disney (DIS)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2019/04/Disney-launch-date-and-price-set-MSN-300x165.jpg" alt=""><div>Source: Walt Disney Co</div></div>Disney stock really dropped the ball when it reported earnings earlier this week, as it delivered fairly <a href="https://finance.yahoo.com/news/disney-stock-falls-as-company-attempts-to-make-streaming-business-profitable-103032382.html">lukewarm</a> guidance. Perhaps the biggest takeaway from the quarter was the firm&rsquo;s plans to make Disney+ profitable. Indeed, Disney has spent considerable sums to invest in user growth since the pandemic lockdown days. Now, it needs its streaming service to finally make good money.



Indeed, a profitability push at the expense of content spending may put Disney behind Netflix in the streaming wars. Further, higher prices may be tougher to command than Netflix, especially if the rate of content coming in starts to become less appealing. In a market where you&rsquo;ve got to spend money (and lose money for quite a while) to make money, investors seem a tad hesitant about where Disney+ goes from here.



I think such fears are mostly unwarranted, especially as Disney joins forces with Warner Bros. Discovery (NASDAQ:<a href="https://investorplace.com/stock-quotes/wbd-stock-quote/">WBD</a>) to unlock bundling opportunities. Disney+, Hulu and Max could be a nice combo. However, only time will tell if consumers bite on the bundle.



<h2>Amazon (AMZN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-300x169.png" alt="Closeup of the Amazon logo at Amazon campus in Palo Alto, California. The Palo Alto location hosts A9 Search, Amazon Web Services, and Amazon Game Studios teams. AMZN stock"><div>Source: Tada Images / Shutterstock.com</div></div>Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) is better known for its e-commerce and AWS businesses, but it&rsquo;s also becoming quite a formidable rival in streaming. Prime Video used to be just a nice-to-have as a part of a Prime membership. Now, it&rsquo;s starting to punch above its weight class, with the e-commerce juggernaut now asking for a bit more cash to view Prime Video content without ads.



Amazon&rsquo;s top boss, Andy Jassy, recently noted that Prime Video can be a <a href="https://www.investopedia.com/4-key-takeaways-from-ceo-andy-jassy-s-letter-to-amazon-shareholders-8629934#:~:text=Jassy%20also%20has%20%22increasing%20conviction,another%20long%2Dterm%20revenue%20stream.">&ldquo;profitable business on its own.&rdquo;</a> In that regard, Amazon may already be a few strides ahead of Disney+.



With more than enough hit content on the platform, Prime Video may just have enough content firepower with franchises such as &ldquo;The Boys&rdquo; to increase the number of ads gradually without losing too many members. And for those who get agitated by the ads? There&rsquo;s always the ad-free version for a few bucks more. All considered, Prime Video looks like a serious candidate to be one of the streaming war&rsquo;s winners.



On the date of publication, Joey Frenette owned shares of Disney and Amazon. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://protect-us.mimecast.com/s/YUYqC31vVVI7KAkriDfKi6?domain=investorplace.com/">Publishing Guidelines.</a>
<div>Joey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.</div><h3>More From InvestorPlace</h3>
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