Morning Brief
Netflix misses, gold drops, Tesla earnings on deck
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Show notes
US stocks open mixed as earnings season heats up and Netflix (NFLX) shares tumble 8% after the streaming giant missed expectations on both revenue and profit. The company blamed an unexpected tax hit in Brazil but reaffirmed its full-year guidance and projected stronger ad-tier growth heading into 2025. Netflix executives said the platform will more than double advertising revenue next year, helped by new deals with Amazon (AMZN) and Spotify (SPOT), while ruling out interest in acquiring legacy media networks like Warner Bros. Discovery (WBD). Gold prices extended declines after suffering their worst one-day drop in over a decade, falling nearly 8% from record highs. Analysts at UBS said the pullback is likely technical after a massive 60% year-to-date rally. Meanwhile, Tesla (TSLA) reports after the bell, with analysts watching margins, EV demand, and CEO Elon Musk’s proposed pay package. Investors expect Tesla to highlight growth opportunities in robotaxi and AI infrastructure after the expiration of key EV tax credits. In trending tickers, AT&T (T) gained on strong subscriber growth, Texas Instruments (TXN) slipped on weak chip guidance, and Beyond Meat (BYND) surged 1,300% in four days amid a new meme stock frenzy.
Takeaways:
Netflix plunges after Q3 miss but touts ad-tier and streaming growth
Gold drops 8% from record highs after decade-best rally
Tesla earnings ahead: investors eye margins, demand, and robotaxi updates
Meme stocks roar back as Beyond Meat skyrockets 1,300%
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