Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanillo with Jim Kramer and David Faber at Post 9 of the New York Stock Exchange. Future is pretty solid after the Dow's record high on Tuesday. Busy session of earnings today, AT&T, G. Iver Nova, Texan, Netflix. Tonight will get Tesla and IBM.

Our roadmap begins with

Netflix. Shares dropping in the pre-market after the streamer does miss because of this tax

dispute in Brazil. Shares of Texas instruments are also dropping. This on disappointing guidance,

the company warns of a slower recovery in the chip industry, or at least certainly what parts it plays in.

And keep an eye on gold, because it is falling again, this after suffering what was its biggest drop yesterday in more than a decade.

Which is a collapse?

I wouldn't say it was a total collapse, but collapse perhaps was not such a ill-fitting word, Jim. The real-time editing

continues. We'll begin with Netflix, though. Shares are down in reaction to that earnings

miss. Co-CEO, Greg Peters, summed up the results in the state of the business on last night's

call. We think the business is very healthy. We feel good about our progress on our key initiatives.

We've got also a lot of opportunity ahead of us, but we've got a lot of work we need to accomplish

and fully realize those opportunities. So what's working? We had a good Q3. We had revenue in line

with expectations. Our operating income would have exceeded our forecast absent the Brazilian tax matter.

We're also seeing good progress against our key priorities. So engagement remains healthy. We achieved

record share at TV time in Q3 in both the U.S. and the U.S. and the U.K. We recorded our best

ad sales quarter ever. We're now on track to more than double ad revenue this year.

So Brazil did kind of ding margins on that quarter?

Yeah, I think one of the problems is it was just, they claimed it was telegram, but you really

had to go through a lot of fine print to be able to realize that. I'm going to take the other side

of the selling. I thought the quarter was excellent. I think that the engagement is really good. I think advertising is really good. I think what the slate that they have is really good. And what happens is something like this. Okay, you say, listen, I want to sell it. And then Friday, Catherine Bigelow's a House of Dynamite comes out. And then all Monday, we're all coming on. We're talking about House of Dynamite. I just think that to leave this stock with their advertising, with the gaming possibly coming,

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