Core Viewpoint - Netflix has been downgraded to Underweight by Huber Research, despite announcing a significant $83 billion acquisition of Warner Bros, which is expected to enhance its content portfolio and reshape the streaming landscape [1][6]. Company Developments - Netflix is acquiring Warner Bros. for $83 billion, which will integrate iconic franchises like Harry Potter and Friends with Netflix's original series such as Stranger Things and Squid Game [2]. - The acquisition will involve Netflix taking over Warner Bros. Discovery's studios and streaming services, while Warner Bros. will separate its cable TV channels into a standalone business [3]. - The deal is set to finalize in the third quarter of the next year, with Netflix paying $27.75 per share [3]. Market Reaction - Following the acquisition announcement, Netflix's shares declined by 3.5%, while Warner Bros. Discovery's shares remained stable in premarket trading [4]. - The current stock price of Netflix is approximately $103.03, reflecting a slight decrease of 0.19% [5]. - Over the past year, Netflix's stock has fluctuated between a high of $134.12 and a low of $82.11, with a market capitalization of approximately $436.47 billion [5].