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NFLX — Netflix
_Last updated 2026-10-23 15:00 ET from report. Screening/research, not investment advice._
Business
Subscription video streaming plus a growing ad tier. It shares TRAI correlation cluster 29 with SPOT (consumer subscription media).
Catalysts, guidance & news
- Reported Q3 on 2026-10-20 AMC. Reaction 10-21: gap −6.61%, close-to-close −5.31%, EPS $0.87 vs $0.82 est. Day 2 (10-22): +3.09% (TRAI /api/events; Yahoo daily).
- Next print: 2027-01-19 (TRAI estimate, not confirmed).
- Oct 23 at 15:12 ET: −1.42% (o→c −1.37%) while SPOT was flat.
TRAI data (2026-10-23 8:53 AM ET premarket run; daily stats = Oct 22 session)
- Sector (TRAI): Internet/Media. Oct 22: +3.09%, relVol 1.46, ATR 3.01%, beta60 0.43, residualZ 1.66; no signal (TRAI /api/latest).
- Typical earnings reaction (last 4): all down-gaps, avg |gap| 8.64% (3.17 ATR), fill 0%, continuation 0%, avg day-1 in gap direction −2.78%. Day 1 partly recovers but the gap never fills (TRAI /api/events).
- Correlation cluster 29 with SPOT (ρ 0.67). Other top ρ: INTU 0.60, WDAY 0.56, DIS 0.56, ADBE 0.55. Most negative ρ is with semis/industrials (ASML −0.43, AMAT −0.42) (TRAI /api/correlations).
- Linkage (my calc, Yahoo daily since 2022): NFLX's prints co-move with SPOT (reaction-day ρ 0.64, n 18). SPOT's prints barely move NFLX (ρ 0.24; mean |NFLX| 1.55% vs a 1.68% baseline).