Instagram/Ted Sarandos & Greg Peter TV Netflix stock jumps 9% after dropping Warner Bros. Discovery bid. See why Paramount's $31/share cash offer won and how markets reacted. March 13, 2026 AceShowbiz - Shares of Netflix soared more than 9% following the company's decision to withdraw from the competitive bidding for Warner Bros. Discovery (WBD) on Thursday. In contrast, Paramount's stock rose by 5.2% in after-hours trading, while WBD shares declined 1.9% after the announcement was made public. The development came after the board of Warner Bros.