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BLOCKHAVEN

Morning Intelligence·Wednesday, October 21, 2026

Netflix is down 6.6% premarket after its quarterly results

Netflix reported quarterly results after Tuesday's close and is down 6.6% premarket.

Data through
Market data as of
Published
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Blockhaven Research
In this edition
  1. Opening read
  2. Overnight tape
  3. Movers that matter
  4. Earnings radar
  5. What we're watching
  6. Blockhaven Macro
  7. Risk and opportunity
  8. Market context
  9. Data note
  10. Sources

Opening read

Netflix shares are down 6.6% premarket after the company reported quarterly results after Tuesday's close.

Netflix is among the largest U.S. companies by market value; SPY is up 0.2% and QQQ up 0.6%. Health-care companies account for 2 of the 6 names on the movers list, all lower. The first test is whether Netflix stays below Tuesday's $68.69 close once regular trading begins.

Overnight / pre-market tape

At 8:15 AM ET, SPY is up 0.2% and QQQ is up 0.6% versus the prior close. The 10-year Treasury yield fell 3 bp to 5.12% on Tuesday, the VIX closed Tuesday at 17.3, and Bitcoin trades at $83,445 (+2.4% over 24 hours).

Movers that matter

  1. NFLX−6.6% downpremarket

    Earnings

    Netflix

    Netflix shares are down 6.6% premarket after the company reported quarterly results after Tuesday's close (8-K Item 2.02).[1][2]

    Netflix is among the largest U.S. stocks by market value, so a move this size can shift the index proxies.

  2. SPCX+7.8% uppremarket

    Earnings

    Space Exploration Technologies

    Space Exploration Technologies shares are up 7.8% premarket after the company reported quarterly results after Tuesday's close (8-K Item 2.02).[1][2]

    10,397,260 shares had changed hands premarket by 8:15 AM ET.

  3. SMCI+12.3% uppremarket

    Earnings

    Super Micro Computer

    Super Micro Computer shares are up 12.3% premarket after the company reported quarterly results after Tuesday's close (8-K Item 2.02).[1][2]

    3,683,510 shares had changed hands premarket by 8:15 AM ET.

  4. T−5.6% downpremarket

    Earnings

    AT&T

    AT&T shares are down 5.6% premarket after the company reported quarterly results before the open (8-K Item 2.02).[1][2]

    2,716,682 shares had changed hands premarket by 8:15 AM ET.

  5. ISRG−6.8% downpremarket

    Earnings

    Intuitive Surgical

    Intuitive Surgical shares are down 6.8% premarket after the company reported quarterly results after Tuesday's close (8-K Item 2.02).[1][2]

    Only 77,679 shares had changed hands premarket by 8:15 AM ET, a thin base for a move this size.

  6. ABT−4.3% downpremarket

    Earnings

    Abbott Laboratories

    Abbott Laboratories shares are down 4.3% premarket after the company reported quarterly results before the open (8-K Item 2.02).[1][2]

    614,778 shares had changed hands premarket by 8:15 AM ET.

Earnings radar

Overnight results

  • Thermo Fisher (TMO) reported before the open. Revenue of $12.1 billion, per the company's release. The release also includes an outlook.[2]Before the open
  • Abbott Laboratories (ABT) filed its quarterly results before the open (8-K Item 2.02).[2]Before the open
  • AT&T (T) filed its quarterly results before the open (8-K Item 2.02). The release also includes an outlook.[2]Before the open
  • Philip Morris (PM) filed its quarterly results before the open (8-K Item 2.02).[2]Before the open

Coming today

  • Meta Platforms (META) is listed to report after the close.[3]After the close
  • Tesla (TSLA) is listed to report after the close.[3]After the close
  • Lam Research (LRCX) is listed to report after the close.[3]After the close
  • SAP SE (SAP) is listed to report after the close.[3]After the close
  • Texas Instruments (TXN) is listed to report after the close.[3]After the close

Report timing comes from Nasdaq's public earnings calendar and is not company-confirmed; results are cited only when they appear in a company filing.

What we're watching at the open

  1. 1

    Whether Netflix stays below Tuesday's $68.69 close

    Down 6.6% at 8:15 AM ET on 3,115,239 shares, after its filing.

  2. 2

    Whether QQQ stays ahead of SPY after the open

    QQQ is 0.4 points ahead of SPY at 8:15 AM ET. If the gap holds into midday, the move is in technology and growth names rather than the whole market.

  3. 3

    Whether Space Exploration Technologies stays above Tuesday's $147.79 close

    Up 7.8% at 8:15 AM ET on 10,397,260 shares, after its filing.

  4. 4

    Meta Platforms is listed to report after the close

    Results after the close reach the market after the regular session, so they bear on the next open. Timing is from a public earnings calendar, not the company.

Blockhaven Macro

Regime read: Transition

Blockhaven's read, computed Tuesday, Oct 20, 8:20 PM ET, is Transition. Risk Appetite 52 (inside its neutral band, up 2 over 5 snapshots); Liquidity 30 (below its neutral band, up 2 over 5 snapshots); Crypto 49 (inside its neutral band, up 4 over 5 snapshots). Its Market Stress and Vol Event Risk engines are elevated.

Risk Appetite sits inside its neutral band, so the read does not lean either way on risk; Liquidity, below its band, is the one reading clearly off neutral. The regime read, Risk Appetite, Crypto and the three engines (Market Stress, Upside Expansion and Vol Event Risk) are only partly verified against public data, so treat them as provisional.

Macro read computed .

Risk and opportunity

Risk

Rates volatility

Blockhaven's Macro read names rates volatility as its main risk. The 10-year yield moved 3 bp on Tuesday, to 5.12%, so this morning's readings do not test it directly.

Opportunity

BTC trend

Blockhaven's Macro read names BTC trend as its main opportunity. Bitcoin is up 2.4% over 24 hours, at $83,445.

Market context

Each figure carries its own date and time, and they were not observed simultaneously. Treasury yields are prior-day closes and Bitcoin is a rolling 24-hour reading.

Market figures, each with its own date
FigureReadingDated
SPY, pre-market[1]$770.59, +0.2%
QQQ, pre-market[1]$721.60, +0.6%
10-year Treasury yield[4]5.12%, −3 bp
VIX[5]17.3
Bitcoin[6]$83,445, +2.4%

Data note

Data through 8:15 AM ET. Nasdaq public market data for quotes and SEC EDGAR for company filings. Blockhaven's Macro read was computed Tuesday, Oct 20, 8:20 PM ET.

This edition was compiled and published automatically from public sources under Blockhaven's standing editorial policy. An editor did not review it individually before release.

Condition scores, not probabilities. Thresholds are currently uncalibrated. Historical validation and calibration are in progress, and no hit rates or return claims are published. Macro methodology

Source checks completed .

Sources

  1. 1.

    Nasdaq

    Nasdaq market activity(opens in a new tab)

    Accessed October 21, 2026

  2. 2.

    U.S. Securities and Exchange Commission

    SEC EDGAR company filings(opens in a new tab)

    Accessed October 21, 2026

  3. 3.

    Nasdaq

    Nasdaq earnings calendar(opens in a new tab)

    Accessed October 21, 2026

  4. 4.

    U.S. Department of the Treasury

    Daily Treasury interest rate statistics(opens in a new tab)

    Accessed October 21, 2026

  5. 5.

    Cboe Global Markets

    Cboe market data(opens in a new tab)

    Accessed October 21, 2026

  6. 6.

    Coinbase

    Coinbase markets(opens in a new tab)

    Accessed October 21, 2026

  7. 7.

    Blockhaven

    Blockhaven Macro snapshot (public projection)

    Accessed October 21, 2026 · Snapshot dated 2026-10-20, methodology 2026.07.23-netliq-weekly.

Corrections and updates

No corrections or updates have been made to this piece.

Blockhaven research is published for information and education. It is not personalized investment advice.