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Market News: Intel, Semis, Netflix/WB, 3M

January 20, 2026


The increasing tension over Greenland and the bond selloff in Japan are having the most pronounced market moves today.  But as always, there are some stock specific news worth highlighting today.


Semiconductor Stocks

Intel (INTC) and Sandisk (SNDK) are the two leading gainers in the S&P 500 today.  Intel got a double upgrade from two brokers this morning, who are expecting the company to report strong results in a couple days.   Storage makers WDC and STX also got a boost from a BofA upgrade.  As a result, the semiconductor sector is significantly outperforming the overall market.


Netflix and Warner Brothers

As was rumored, Netflix officially changed its bid for Warner Brothers Discover (WBD) to an all-cash bid.  Its previous offer was partially in NFLX stock.  And that was the weakest part of the deal terms.   Barring some surprise development, this will likely end the dramatic bidding war for Warner Bros.  A shareholder vote by WBD shareholders is scheduled for spring of this year.  Also, Netflix reports earnings after the close today, so we’ll listen for their comments on the call.


3M (MMM)

Diversified industrial and consumer products maker, 3M, reported earnings this morning.  Both sales and margins were a touch on the lighter side.  The shares are falling as a result.  Given 3M’s position as a diversified industrial supplier, it’s generally seen as a bellweather in terms of general economic strength.  Organic sales were +2.2% in the quarter.  Mgmt expects +3% for 2026.


Earnings Season

Earnings season is in full swing this week.  We’ll get a lot of industrial companies reporting this week.  So we’ll pay attention to those headlines in addition to comments out of the Davos summit this week.

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