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🏀 You Can Soon Buy The Knicks By Themselves

Basketball fans, this one is for you. The company that owns the New York Knicks is splitting into two separate companies. When the dust settles, one of those companies will own pretty much just the Knicks. The timing is perfect too, since the NBA season tips off right now.

Here’s the simple version. Today, one company called $MSGS MSG Sports owns both the Knicks and the New York Rangers hockey team. That company is cutting the Rangers loose into a brand new company. The Rangers will trade under a new ticker, $MSGR. The part that keeps the Knicks gets a new name and a new ticker too, $MSGK. So soon there will be a “Knicks stock” and a “Rangers stock,” and you can own whichever team you like.

So what happens if you already own shares? If you hold MSGS stock as of October 20, you get 1 new Rangers share for every 2 MSGS shares you own. A kind of preview trading starts October 21, the split becomes official late on October 26, and normal trading in both new stocks begins October 27. A couple of final approvals are still pending, but the plan is set.

• 🏀 A “just the Knicks” stock: MSGK gets you about as close to owning only the Knicks as possible, one of the most valuable teams in all of sports.

• 🏒 A “just the Rangers” stock: Hockey fans get MSGR, a separate stock for the Rangers, so you can back your team of choice.

• 🔓 Splits can unlock hidden value: When one stock holds two different businesses, the market often prices it poorly. Splitting them lets each trade on its own, which can reveal value that was hidden.

• ⏳ It’s not fully done yet: A few final steps still need to clear, including approvals and some paperwork, before the split is complete.

The Munch Take: Here’s why this matters beyond the fun of owning the Knicks. When one company owns two very different things, like a basketball team and a hockey team, investors have a hard time pricing it. Often the whole thing trades for less than the two parts are worth on their own. Split them up, and each can finally be valued fairly, which can lift both. That’s a real, time-tested way smart money finds value, and it’s playing out right here. Now, owning a single sports team is a wild, emotional ride, so we would not bet big on either one. We’re not buyers but we love watching spinoffs like this, because the breakup is often exactly where the quiet money hides.

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🎬 Netflix's Big Test Lands This Afternoon

Grab the popcorn, because the streaming giant steps up to bat at about 4:01 PM ET, with its video interview to follow at 4:45 PM ET. Netflix ($NFLX) reports its latest quarterly results, and after a rough stretch, investors are watching this one closely. The stock is down about 23% this year, and the last time Netflix reported, weak guidance sent the shares tumbling about 8% after hours. So the pressure is on to deliver something better.

Here's the setup. Netflix guided for revenue of $12.86 billion, earnings of $0.82 per share, and a healthy operating margin of 33.2%. Wall Street's expectations line up almost exactly, with consensus at $0.82 in earnings and roughly $12.87 billion in revenue. In other words, the bar is set right where the company placed it, so the real action is in the details and the forecast, not just the headline numbers. One more thing to know: options traders are betting the stock swings roughly 9.5% in either direction by the end of the week, so a big move is on the table.

• 💰 The ad business is the big story: Netflix is chasing roughly $3 billion in advertising revenue for 2026, so any update on that progress matters a lot.

• 📈 Price hikes versus churn: Investors want to see that Netflix can keep raising prices without too many people canceling.

• ⏱️ Viewing growth is the quiet question: Hours watched grew only about 2% in the first half of 2026, a slight pickup from 1.5% in 2025, while Apple, Amazon and Disney fight hard for the same screen time.

• 🤝 Deal talk is in focus: After Netflix walked away from Warner Bros., people are curious whether management hints at what it does next with all that cash.

The Munch Take: Here's our honest read heading into the numbers. When a company's guidance and Wall Street's estimates match this perfectly, the headline results rarely move the stock. What actually matters is the story management tells about the future, the ad business, pricing power, and whether viewing growth is stalling. That's where this stock lives or dies. With the shares already down 23% this year and a possible 9.5% swing on deck, this is a high-stakes night either way.

Bonus Report: Crazy prediction from Elon Musk (via Brownstone Research)

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