Internet / Media

_Last updated 2026-10-29 16:00 ET from report. Screening/research, not investment advice._

• META (2026-10-21 AMC): capex range narrowed upward to $135–145B, FCF −$2.12B, $9.89B legal charge (GAAP EPS $3.83, $7.40 ex-charge), new non-voting Class C stock effective 2027-01-19 (a stock dividend, not an offering) → −6.98% Oct 22; its capex is the demand side of the semis trade (META note).
• SPOT (2026-10-22 BMO): subs/margin/guide beat → +11.10%; beta60 −0.49 vs SPY — behaves as a non-AI, consumer-subscription name (SPOT note).
• Linkages (TRAI /api/correlations): GOOGL–AMZN 0.72 (cluster 20); SNAP–UBER–PINS (cluster 14); CMCSA with telecoms T/VZ/TMUS (cluster 10). Upcoming: GOOGL 10-28 AMC, PINS & RBLX 10-29 AMC (TRAI /api/events).

2026-10-23 14:00 update — GOOGL into its print

• GOOGL reports Wed 10-28 AMC (IR-confirmed), the same night as MSFT and after the 2 PM FOMC decision. TRAI history: avg |gap| 6.37% (2.45 ATR), 0/4 filled. Options imply ±6.21%. It is today's mean_reversion fade-long candidate, but it shares cluster 20 with AMZN (ρ 0.72), which reports the next night (GOOGL note).
• Mega-cap cross-section, capex scoreboard and reaction-day behaviour: megacap-cloud. Internet ad names with GOOGL read-through: SNAP 0.45, PINS 0.44 (PINS reports 10-29 AMC, SNAP 11-04 AMC) (TRAI /api/correlations, /api/events).

2026-10-23 15:00 update — SPOT/NFLX day 2 (report)

• SPOT day 2: +0.22% at 15:12 (o→c −0.28%). Analyst targets were raised. The Q4 revenue guide was slightly below consensus and subs above it. SPOT's 2026 factor exposure is anti-semis (ρ to SMH by year: 2022 +0.67 → 2026 YTD −0.17), and about a third of the Oct 22 +11% is explained by SMH −5.99% (S-046, S-049).
• NFLX (cluster 29 with SPOT, ρ 0.67): its 10-20 AMC print gapped −6.61%, the 4th straight down-gap, none filled. It was −1.42% today (NFLX note).

2026-10-29 16:00 update (report)

• META's weakness this week is financing, not a print: ~$97.5B package ($25B Class A at $625, $12.5B mandatory convertible preferred, $60B Class C ATM from 2027). GOOGL −12.64% on 10-29 after its Q3 miss. See megacap-cloud.

2026-10-29 17:00 update

• DASH Q3 beat (EPS $1.06 vs $0.81) plus a $65/share Instacart deal; +5.61%, long_momentum. After hours 10-29: PINS −12.25% (revenue/EPS miss), RBLX −18.74% (DAU miss, weak Q4 bookings guide), SNAP −3%. PINS–DASH ρ 0.34. DASH · PINS · RBLX
• Source: 2026-10-29 17:00 report.

2026-10-30 13:00 update

• SPOT +5.71% on an FT report of a Q1 2027 AI remix add-on ($4–5/month) vs NFLX +0.34%, a cluster-29 divergence. SPOT · Source: 2026-10-30 13:00 report §5.
• Label read-through 10-30: UMG.AS +7.9% (signed), WMG +0.5%, SONY −0.9% (still negotiating). See SPOT note §13:00.

2026-10-30 15:00 update

• DASH (+0.89%) held its Instacart-deal gain on day 2, while BKNG −1.54%, META −1.72% and NFLX −0.44%. DASH's intraday β to SPY is 1.72. Its 60d peers all print next week: BKNG 11-03, UBER 11-04, AFRM 11-05.
• 2026-10-30 15:00: LM day-2 follow-through and weekend gap (CVNA/CMG/DASH/BA/MO)

2026-11-02 10:00 update

• RBLX day 2 +2.8% at ~10:15 ET (at OR30 high). TTWO +1.7% (UBS cited GTA VI as an RBLX user risk). APP (TRAI cluster 12 with RBLX, ρ 0.59) +3.5%, prints 11-04 AMC. RBLX · APP · Report

2026-11-02 13:00 update

• LM day 2 works: CMCSA +2.26%, SPOT +1.05% and TMUS (telecom) +1.57% at 13:10 ET, all above OR30 and VWAP. CHTR +3.49%, DIS +2.39%, NFLX +0.93%. No company catalyst for any of them. This is a low-beta rotation (beta60 −0.34 / −0.87 / −0.79) while AI hardware lags (SMH −0.4%). The "Internet/Media ×2" flag pairs CMCSA+SPOT (ρ 0.52, different 60d clusters) but misses the shared factor with TMUS (S-125).
• RBLX (short, suspended) faded to +1.1%. This week: UBER Wed BMO (EPS ~$0.86, rev ~$14.67B), SNAP Wed AMC (rev ~$1.73B); TRAI last-4 avg |gap| 5.3% / 8.0%.
• Replay (my calc): defensive names up ≥ 3% on QQQ ≤ −2% days → day-2 o→c −0.14% (n 16). CMCSA · SPOT · RBLX · 2026-11-02 13:00 report

2026-11-06 11:00 update — TTD Mon AMC mega-gap

• TTD Q3 results Mon 2026-11-09 AMC; call 5:00 PM ET / 2:00 PM PT (Trade Desk IR, Oct 27, 2026) [V-P].
• TRAI last-4 avg \|gap\| 13.56% (2.58 ATR), fill 25%, avg day-1 in gap dir −9.32% — largest near-term \|gap\| in upcoming as of 11-06 events cut. Cluster 9 with ADBE/INTU/WDAY (avgRho 0.65).
• Fri ~11:18 ET Yahoo ~−1.4% vs Thu close — soft path; not a validated fade. Company note: TTD.
• Source: 2026-11-06 11:00 Mon gap stack.

2026-11-06 17:00 update — ABNB LM vs BKNG soft (cluster 3)

• ABNB day-1 LM +11.67% after Q3 beat/raise + $12B buyback (Newsroom); BKNG −4.77% same session inside cluster 3 — print-driven twin break. See ABNB; 17:00 report (S-118 / S-151 companion).