Netflix stock surges as it walks away from Warner Bros deal

Netflix’s stock is surging as investors applauded its decision to exit the race for Warner Bros Discovery, a months-long bidding war with Paramount Skydance for some of Hollywood’s most prized assets.

The stock jumped more than 10 percent on Friday. That came on the heels of Netflix’s decision on Thursday evening that it would not match Paramount’s latest $31 per share bid or raise its offer of ...