TMTB EOD (NFLX/TSLA/LRCX recaps)

Good afternoon – QQQs ended down 1.3% as treasuries continued to slump but yields finished off their highs thanks to the 1pm et 20 year auction.  ARKK finished down 4.5%. QQQs should be helped tomorrow by a very solid NFLX report after the close although lateral read-throughs aren’t many.  The DXY rallied 30bps and Crude jumped close to 2% on Middle easy concerns. 

Let’s start with earnings:

NFLX v solid with beat across net adds, margins, better net add and margin guide, better FCF and price increases in U.S. and UK/France. Stock +12%

Streaming paid adds came in at 8.75M vs street at 6.2M and expectations of 6.5-7M and margin guide better than what CFO alluded to and sell was it.  Is the print enough to sustainably change the narrative? My initial read is partially, at least on the margin side, and doesn’t feel like the shorts have a lot to hold onto any longer (although not sure what the shorts who were still holding after a move below $350 were playing for). 

Next year’s margin guidan…