These Stocks Moved the Most Today: Netflix, Warner Bros. Discovery, HPE, SoFi, Oklo, Ulta Beauty, and More

A view of the trading floor of the New York Stock Exchange. (Spencer Platt/Getty Images)

Key Points

• Warner Bros. Discovery rose after Netflix unveils a $72 billion deal to buy the entertainment company.
• Hewlett Packard Enterprise stock gained after revenue for its fiscal fourth quarter came in short of expectations. Revenue from servers was down 5% to $4.46 billion.
• SoFi Technologies declined following its announcement of a $1.5 billion common stock offering to fund growth and enhance its capital position.

Stocks rose on Friday after the Federal Reserve’s preferred inflation gauge came mostly in line with economists’ expectations in September, which will likely pave the way for an interest-rate cut next week. The S&P 500 gained for a second week in a row and closed within striking distance of its closing high.

These stocks made moves on Friday:

Netflix fell 2.9% while Warner Bros. Discovery ended the session 6.3% higher. The streaming company said it would buy Warner Bros. for $72 billion after it splits its studios and HBO Max streaming business from its cable networks.

The deal, which is set to be Netflix’s biggest-ever acquisition, values Warner at $27.75 a share, implying an enterprise value of around $82.7 billion. The transaction is expected to close following the separation of Warner’s cable division into a new public company, expected in the third quarter of 2026.

Hewlett Packard Enterprise rose 1.9%. The server and cloud-software company missed analysts’ expectations for revenue in its fiscal fourth quarter, though it beat earnings estimates. Server revenue fell 5% to $4.46 billion in the period, while Hybrid Cloud revenue declined 12%.

SoFi Technologies declined 6.2%. The fintech unveiled an offering of $1.5 billion worth of common shares after the bell Thursday, saying it plans to use the net proceeds for general corporate purposes.

Shares of nuclear start-up Oklo closed down 6.3%. Oklo, too, plans to sell $1.5 billion worth of common stock through an at-the-market equity offering. The stock move appeared to reflect concerns over potential dilution.

Apple fell 0.7%. The iPhone maker said its general counsel and head of policy will both retire next year. In the past year, Apple has shared retirement plans or transitions for four of 11 top deputies to CEO Tim Cook.

Rubrik surged 22% after the cybersecurity company posted a surprise profit in the third quarter. Adjusted earnings per share of 10 cents beat Wall Street estimates for a loss of 17 cents.

Victoria’s Secret jumped 18% as its latest financial report indicated its turnaround effort was bearing fruit. The lingerie retailer posted an adjusted quarterly loss of 27 cents a share, while analysts expected 59 cents.

Ulta Beauty surged 13% after third-quarter earnings convincingly beat analysts’ expectations. Adjusted earnings per share were $5.14, beating Wall Street’s consensus of $4.61.

Coinbase Global declined 1.6%. A Cloudflare outage, the second in three weeks, briefly knocked the crypto trading platform offline Friday morning. Shares of Cloudflare ended the session down 1.6%.

Docusign tumbled 7.6%, even after the software company beat analysts’ calls for third-quarter earnings and revenue. The company sees revenue in the range of $825 million to $829 million in the fourth quarter, compared with Wall Street’s call for $825.9 million.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and Callum Keown at callum.keown@dowjones.com