Squawk on the Street Netflix Slides on Earnings Miss, WBD Update, Return of the Memes 10/22/25
Oct 22, 2025
Netflix faces a tough quarter with an earnings miss, prompting discussions on potential M&A opportunities amid Warner Bros. Discovery's impending sale. Attention turns to Beyond Meat's astonishing 900% surge, signaling a rise in meme stock enthusiasm. Texas Instruments reveals weaker guidance, raising concerns about the chip sector's recovery. Insight into Vertiv's strong performance highlights continued data center demand. Finally, Jim recommends Capital One as a compelling buy, supported by its improving credit metrics.
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WBD Sale Narrows Potential Buyers
- Warner Bros. Discovery's sale reshapes buyer dynamics, excluding linear cable in potential deals.
- Regulators and political views could materially influence who can acquire WBD's assets.
M&A Is Considered, Not Required
- Netflix remains open-minded on M&A but emphasizes building over buying.
- Ted Sarandos framed acquisitions as optional, applying the same scrutiny as internal investments.
Price Regulatory Risk Into Bids
- Consider antitrust and reverse-break fees when evaluating large media mergers.
- David Faber advises buyers must price regulatory risk into any Warner deal bid.
