CNBC Business News Update - Market Open: Stocks Mixed, Netflix Out With Disappointing Earnings, Clothing Prices Rise Over Last Year 10/22/25

Episode Date: October 22, 2025

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I'm Jessica Eddinger, CNBC. After a modestly lower open, markets are now mixed on Wall Street. The Dow is down 21 points. The S&P 500 index in the green, up five points. The NASDAQ down three points this morning. Netflix shares were falling. Investors disappointed when earnings came in below Wall Street forecast. The streamer blaming a foreign tax issue because Netflix raised prices.

Netflix missing third quarter profit estimates. citing an ongoing dispute with Brazilian tax authorities. Now, revenue matched expectations rising 17% of the quarter, driven by membership growth, pricing adjustments, and what the company said was its best-ever quarter for ad sales. Now, Netflix reduced its full-year forecast to 29% that had been at 30% prior to that. Now, the company's still riding, of course,

the success of June's release of K-pop Demon Hunters, its fourth quarter content slate, expected to include the fifth and final season of Stranger Things, season of the diplomat and Frankenstein. CNBC's Andrew Ross Sorkin and CNBC Mad Money host Jim Kramer. He still likes Netflix. This is an impressive quarter, and those who want to sell it, they should read the conference call, which was incredibly well done.

They should read the shareholder note, which was amazing. And they'll realize, you know, you're selling a company that has more franchises than any other company I know that can just print money. Toymaker Mattel shares were lower on disappointing quarterly results, but Netflix and Mattel have gotten together. They have a deal to market dolls and other toys using the K-pop Demon Hunter characters. The animated sing-along movies now the number one most streamed film in Netflix history. While the news headlines about Warner Brothers Discovery highlight the company putting it up for sale yesterday, it quietly raised prices across all of its HBO Max plans effective immediately.

variety reporting that HBO Max Basic with ads now costs a dollar more a month, $11 a month. HBO Max Premium, no ads and you get four devices running at the same time. It goes up $2 a month to $23 a month. Prices are rising across the fashion industry. Consultant Alex Partners is out with a tracking report and finds that jackets and outer wear are seeing the largest price increases up 24 percent. from last year to this year. Refinancing is doing well with mortgage rates ticking lower.

Mortgage rates actually dropped last week to the lowest level in a month. The average contract for a 30-year fixed rate loan fell from 6.42% to 6.37%. The lower rates, though, didn't entice new buyers. Applications for a mortgage to purchase a home actually fell by 5% for the week. But refinance applications jumped by 4%. That was up 81%. from the same week a year ago. CNBC's Becky Quick.

Shares of Beyond Meat surging again today as the stock was added to the Round Hill meme stock ETF shares soared up more than 100% in early trading today. The take-back Tesla campaign is gaining steam, urging Tesla shareholders to reject the $1 trillion pay plan for Elon Musk. Jessica Ettinger, CNBC.

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