Netflix shares jump more than 10% after walking away from Warner Bros. bid

Netflix stock rose more than 10% on February 27, 2026, the day after the company said it would not raise its Warner Bros. Discovery offer. Traders read the exit as financial discipline, since the company avoided a costly acquisition after a bidding war.

• Shares rose more than 10% on February 27, 2026
• Trigger: the February 26 decision not to match Paramount's bid
• Netflix had offered $27.75 per share for Warner Bros. Discovery