Francesca Fontana

Remember, Paramount recently wrapped up a deal of its own, its merger with Skydance.

Media dealmaking has been in the air as of late.

Paramount also just bet $150 million on a deal to acquire the news and opinion site The Free Press.

and made co-founder Barry Weiss editor-in-chief of CBS News.

So how did investors react to Warner's announcement?

Well, its shares jumped 11% on Tuesday, while Paramount's shares lost 2.8%.

And throughout the week, Warner continued higher, ultimately gaining 16%, while Paramount evened things out, ending less than 1% lower.

Last but not least, let's go through some big earnings movers.

First up, Netflix.

On Tuesday, Netflix reported higher quarterly profit and sales driven by membership growth, price hikes, and increased advertising revenue.

But its earnings missed expectations, which Netflix said was due to an expense connected to a Brazilian tax issue.

We certainly don't need to go into the details, but the bottom line, the stock fell 10% on Tuesday and lost 8.7% on a weekly basis.

We also had Tesla's report late Wednesday.

The takeaway?

A surge of electric car demand in the third quarter didn't give Tesla enough of a boost.

Its net income fell 37%, even as American shoppers raced to buy EVs before a $7,500 tax credit expired last month.

After an after-hour slump, Tesla actually closed up 2.3% on Thursday, but the stock notched a weekly decline of 1.3%.

And now you know what's news in markets this week.

You can read about more stocks that moved on the week's news in The Score, my column in the Wall Street Journal's Exchange section.

Today's show was produced by Zoe Kolkin with Deputy Editor Chris Sinsley.