Post-Bell | Wall St Closes with Slight Gains; Netflix Falls 3%; Meta up 2%; Micron, Adobe Rise 5%; WBD, Baidu up 6%; SanDisk Jumps 7%; Rubrik Soars 22%

U.S. stocks closed out the trading week with slight gains on Friday as the latest flurry of economic data kept elevated expectations for a Federal Reserve interest rate cut next week intact.

Market Snapshot

The Dow Jones Industrial Average rose 104.05 points, or 0.22%, to 47,954.99, the S&P 500 gained 13.28 points, or 0.19%, to 6,870.40 and the Nasdaq Composite gained 72.99 points, or 0.31%, to 23,578.13. SanDisk Corp. up 7%; Baidu up 6%; Adobe, Micron Technology up 5%; Meta Platforms, Inc. up 2%.

Market Movers

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 Inc. 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 Inc. 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 & Co 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 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.

Market News

Carvana, CRH, Comfort Systems to Join S&P 500 in Rebalancing

CRH PLC, Carvana Co. and Comfort Systems USA were selected for inclusion to the S&P 500.

The companies will join the benchmark in a quarterly rebalance at the end of December, S&P Dow Jones Indices said Friday. The trio will replace LKQ Corp, Solstice Advanced Materials Inc and Mohawk prior to the start of trading on Dec. 22.

Shares of used car-retailer Carvana and building-materials company CRH both jumped more than 10% in post-market trading. Heating and ventilation company Comfort Systems USA rose about 7%.

Nvidia Reveals Its Biggest Expansion to CUDA Since Its 2006 Launch

NVIDIA has launched CUDA 13.1 and CUDA Tile, which the Jensen Huang-led company said is the most substantial advancement to the platform since its release about 20 years ago.

"This exciting innovation introduces a virtual instruction set for tile-based parallel programming, focusing on the ability to write algorithms at a higher level and abstract away the details of specialized hardware, such as tensor cores," said Nvidia engineers Jonathan Bentz and Tony Scudiero in a blog post.