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Netflix's business leaders and investors probably aren't enjoying a soda pop after the release of its third-quarter results. While the company's revenue met expectations — though not beating them as it did the first and second quarters — earnings were taken down by a tax dispute with Brazilian authorities. Shares of Netflix fell around 6% in extended trading Tuesday stateside. But it doesn't look like any other media company will dethrone Netflix as the king of streaming in the near term. Warner Bros. Discovery said Tuesday it's open to a sale — and Netflix is reportedly an interested buyer — even as Warner Bros. is going ahead with its split into two companies in the meantime. Elsewhere, Comcast's NBCUniversal is currently spinning off its cable networks, which includes CNBC. Those moves suggest that legacy media is still finding its footing amid the era of streaming inaugurated by Netflix. While there are many factors contributing to Netflix's golden status, its shows are likely the main protagonists. "KPop Demon Hunters," released in June, was a smash hit. It's now the company's most-watched film, hitting 325 million views and surely played a huge role in Netflix's best ad sales quarter ever in the third quarter. Even as the streaming giant's earnings stumbled during that period, Netflix is still showing other media companies how it's done. — CNBC's Sarah Whitten contributed to this report. China says countries should be 'proactive' in stabilizing rare earths supplies. That's according to a spokesperson for China's Ministry of Foreign Affairs, who was asked about the U.S. and Australia's critical minerals deal. Netflix's third-quarter earnings fell short of expectations. The miss was because of an ongoing dispute with Brazilian tax authorities, the company said. Revenue for the period was in line with estimates. Warner Bros. Discovery says it's open to a sale. The media conglomerate said Tuesday stateside it has received "unsolicited interest" and will consider all options. Netflix and Comcast are among the interested parties, sources told CNBC's David Faber. U.S. stocks trade mixed. The Dow Jones Industrial Average closed at a record Tuesday stateside. The S&P 500 , however, was flat and the Nasdaq Composite lost 0.16%. Europe's regional Stoxx 600 added 0.21%, but Novo Nordisk fell amid a boardroom dispute. [PRO] 'Buyback aristocrats' are outperforming the market. The term refers to companies that have reduced their share counts across a certain period of time — a portfolio of them has outperformed the equal-weight S&P 500 since 2012, according to Goldman Sachs . Gold is getting knocked on Tuesday – it's still the hottest trade of the year Precious metals have gained in 2025 thanks to concerns around global trade, expectations of Federal Reserve rate cuts and a drop in the U.S. dollar. But the size of those returns is unusual for gold and silver, especially when the stock market is doing well. Investors are seeing them as a scarce asset as the "currency debasement" trade gains momentum on Wall Street. This trade refers to investors hedging against government borrowing and money printing, lessening the U.S. dollar's value by moving into gold and other assets. — Sean Conlon
