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Today is Wednesday, October 22, 2025.

The Early Bird Index today is 84.92.

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Netflix's Brazilian Tax Dispute

Netflix $NFLX ( ▲ 0.23% ) posted disappointing financial earnings on Tuesday, sending shares of the streaming giant down 6.48% in after-hours trading.

Financials: Netflix reported earnings of $5.87 per share in the past quarter, which were lower than expected. Revenue reached $11.51 billion, which was in line. 

Powering the Story: The company blamed an ongoing dispute with Brazilian tax authorities as the reason for the earnings miss.

Early Bird’s Nest Egg Gains: For long-term investors, the matter is more a temporary headline risk than a fundamental reason for concern, especially since Netflix’s forward guidance and underlying business momentum remained strong.

Final Thoughts: This was a setback for Netflix, which had been up nearly 40% this year.

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Notables

Notable Earnings Today: Tesla (Nasdaq: TSLA), International Business Machines (NYSE: IBM), AT&T (NYSE: T), Las Vegas Sands (NYSE: LVS), Amphenol (NYSE: APH), GE Vernova (NYSE: GEV), Vertiv (NYSE: VRT), Kinder Morgan (NYSE: KMI), Boston Scientific (NYSE: BSX), Hilton (NYSE: HLT), Wyndham Hotels & Resorts (NYSE: WH), SAP (NYSE: SAP), United Rentals (NYSE: URI), Lending Club (NYSE: LC), Churchill Downs (Nasdaq: CHDN), QuantumScape (NYSEL QS), Century Communities (NYSE: CCS), FirstEnergy (NYSE: FE), Crown Castle (NYSE: CCI), O'Reilly Automotive (Nasdaq: ORLY), Texas Capital (Nasdaq: TCBI), Taylor Morrison Home (NYSE: TMHC), Travel + Leisure (NYSE: TNL), Alcoa (NYSE: AA), Thermo Fisher (NYSE: TMO), Lam Research (Nasdaq: LRCX), Winnebago (NYSE: WGO), Knight-Swift (NYSE: KNX), ASGN (NYSE: ASGN), Avery Dennison (NYSE: AVY), Banc of California (NYSE: BANC), BankUnited (NYSE: BKU), CACI (NYSE: CACI), Core Labs (NYSE: CLB), Equity Lifestyle Properties (NYSE: ELS), Essential Properties Realty Trust (NYSE: EPRT), First American Financial (NYSE: FAF), Globe Life (NYSE: GL) Goosehead Insurance (Nasdaq: GSHD), Graco (NYSE: GGG), Hexcel (NYSE: HXL), ICON (Nasdaq: ICLR), Kaiser Aluminum (Nasdaq: KALU), Lennox International (NYSE: LII), Lithia Motors (NYSE: LAD), M/I Homes (NYSE: MHO), Medpace (Nasdaq: MEDP), Molina Healthcare (NYSE: MOH), Moody's (NYSE: MCO), Northern Trust (Nasdaq: NTRS), Oceaneering International (NYSE: OII), OFG Bancorp (NYSE: OFG), Old National Bancorp (Nasdaq: ONB), Packaging (NYSE: PKG), Plexus (Nasdaq: PLXS,) PROG Holdings (NYSE: PRG), Raymond James (NYSE: RJF), Rogers Communications (NYSE: RCI), Teck Resources (NYSE: TECK), UniFirst (NYSE: UNF), United Community Banks (NYSE: UCB), Viking Therapeutics (Nasdaq: VKTX), Wabtec (NYSE: WAB), Waste Connections (NYSE: WCN), WesBanco (Nasdaq: WSBC).

Notable IPOs Today: Texxon Holding Limited Ordinary shares (Nasdaq: NPT), Calisa Acquisition Corp Units (Nasdaq: ALISU), Emmis Acquisition Corp. Class A Ordinary Shares (Nasdaq: EMIS).

Notable Equity Crowdfunding Campaigns Ending Today: Foment Bio (StartEngine), Numurus (StartEngine), Mama's Take And Bake (Honeycomb).

Notable Economic Events Today: Crude Oil Inventories (10:30 a.m. ET).

Intuitive Surgical Impresses Investors

Robotic surgery company Intuitive Surgical $ISRG ( ▲ 0.93% ) surged 17.07% in after-hours trading on Tuesday after posting strong financial earnings results.

Financials: Intuitive Surgical reported earnings of $2.40 per share in the past quarter and revenue of $2.51 billion. Both were better than expected.

Final Thoughts: Intuitive Surgical’s stock was down over 11% this year and needed to turn things around. It impressed investors on Tuesday.

DraftKings Buys Predictions Platform

DraftKings $DKNG ( ▲ 0.06% ) jumped 4.13% in after-hours trading on Tuesday after acquiring the predictions platform Railbird Technologies.

Final Thoughts: This deal will allow DraftKings to launch its own predictions app.

Trends to Watch

Outperforming: XRP Spikes 3% as Gold Slips and Bitcoin Extends Gains (CoinDesk)

Tariff Pain: TI gives dour quarterly forecast as tariffs prolong analog chip recovery (Bloomberg)

Strong Results: Capital One Financial Delinquencies Fall, Helping to Lift Revenue, Profit (Wall Street Journal)

Toying Around: Mattel misses Wall Street estimates as North American sales sink (CNBC)

Last Major Step: Ethereum enters final testnet phase ahead of Dec. 3 Fusaka upgrade (Cointelegraph)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations, and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}