Netflix Misses Estimate, Stocks Hold Record Highs | The Close 4/16/2026

Watch on YouTube ↗  |  April 16, 2026 at 22:13  |  1:34:27  |  Bloomberg Markets
Speakers
John Rogers — Co-CEO, Ariel Investments
David Joyce — Head of Digital Assets, Citi
Ross Gerber — CEO, Gerber Kawasaki Wealth Management
Mark Douglas — CEO, MNTN

Summary

The video covers market closing action on April 16, 2026, with the S&P 500 poised for another record high. Discussions center on the health of the private credit market, Netflix's upcoming earnings, and broader investment themes in small-cap stocks and the streaming industry. Following the report, Netflix shares fall after-hours due to a softer Q2 revenue and margin guide, though several guests remain bullish on its long-term ad business and dominant position.

  • S&P 500 extends gains, nearing another record closing high.
  • Guests discuss private credit market stability and institutional buying opportunities.
  • Netflix reports Q1 earnings beat but guides Q2 revenue and operating margin below estimates.
  • Netflix's advertising business is highlighted as a key long-term growth driver.
  • John Rogers of Ariel Investments favors small-cap value stocks over expensive large-cap growth.
  • Ross Gerber and other analysts remain bullish on Netflix, citing its near-monopoly position.
  • Women's sports and live sports are discussed as high-engagement drivers for media and advertising.
  • The streaming industry is seen as entering a consolidation phase focused on share shifts.
Trade Ideas
John Rogers Co-CEO, Ariel Investments 27:22
Small-cap value attractive versus expensive large-cap growth.
Small-cap value stocks are relatively well positioned compared to large-cap growth, which is much more expensive. Investors have neglected misunderstood smaller companies not well followed, where research can uncover great value and bargains. These are 'orphan stocks' that can perform well even in a volatile economic environment.
IWN MED
John Rogers Co-CEO, Ariel Investments 27:22
Small-cap value attractive versus expensive large-cap growth.
Small-cap value stocks are relatively well positioned compared to large-cap growth, which is much more expensive. Investors have neglected misunderstood smaller companies not well followed, where research can uncover great value and bargains. These are 'orphan stocks' that can perform well even in a volatile economic environment.
IWF MED
John Rogers Co-CEO, Ariel Investments 31:37
KKR, Carlyle, Apollo to succeed in private credit.
The major alternative asset managers like KKR, Carlyle, and Apollo will be successful in the private credit space as weaker participants get weeded out. They have the best people, capital, and scale to take advantage of bargains in both public and private markets.
KKR CG APO MED
John Bolton Former US National Security Advisor / Ambassador 36:24
Netflix fundamentals strong; ad business is growth lever.
Netflix is attractive due to its pricing power, contained content budget, double-digit revenue growth, defensive business model, margin expansion, and good capital allocation. The advertising business is a transformative growth lever that expands the addressable consumer base and makes the model more defensive. The company is committed to disciplined capital allocation post the abandoned Warner Bros. deal.
NFLX HIGH
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This Bloomberg Markets video, published April 16, 2026, features John Rogers, John Bolton discussing IWN, IWF, KKR, CG, APO, NFLX. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: John Rogers, John Bolton  · Tickers: IWN, IWF, KKR, CG, APO, NFLX