Market Overview

Netflix Up 18% After Q3 Beat

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Netflix, Inc. (NASDAQ: NFLX) shares are trading higher by $18.50 at $118.30 in Tuesday's session. The catalyst for the rally is a Q3 beat of of $0.06 with a slight beat of revenues. The company nearly doubled its Q4 EPS estimates.

Related Link: Netflix Shares Skyrocket On Strong Results, Guidance; Added 5.2 Million Subscribers Globally In Q3

After a sharply higher open ($116.63 vs. Monday close of $99.80), it pulled back only $0.13 to $116.50 before continuing its move higher. So far, it has reached its after-hours high of $121.28, as $119.40 stands as the high for the day. Both of those levels are shy of its 2016 high of $122.18.

The issue has not closed over $120 since December 17, 2015, when it peaked intra-day at $126.35, but ended the session at $122.51. Its all time high was made on December 7 at $133.27 and it all-time closing high was made the day prior at $130.93.

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