Market Wrap: Netflix Net-flunx; Nasdaq Loves to Win; Hot M&A! Come Get Yer Hot M&A!; Bears Out on Groupon IPO

Market wrap-up for October 24th

End of the Day: Dow up 104 to 11,913.62; Nasdaq up 62 to 2,699.44; S&P 500 up 16 to 1,254.44

The following is a brief summary of events moving markets today:

• Netflix net-flunx: After the market closed, Netflix (Nasdaq: NFLX) reported third-quarter results, but dismal fourth-quarter 2011 outlook. Earnings were $1.16 on revenue of $822 million, topping views calling for earnings of 94 cents per share on revenue of $810.5 million. Netflix lost 810 thousand subs in the quarter.
  
  If investors are kind, they'll rewind.
  
  
• Keep the dream alive: With the Nasdaq closing up about 62 to 2,699.44, the index is back in black for 2011. Notably, the index is coming off a four-week winning streak in October, it's longest run since January.
  
  
• Just another Merger Monday! (Ohhhhooo-Whoooa!): Mergers to the max Monday. CIGNA (NYSE: CI) to acquire HealthSpring (NYSE: HS) in $3.8 billion deal, Oracle (Nasdaq: ORCL) to nab RightNow (Nasdaq: RNOW), Cubist (Nasdaq: CBST) gives googly-eyes to Adolor Corp. (Nasdaq: ADLR), Mattel (Nasdaq: MAT) will acquire peer HiT Entertainment, J.M. Smucker (NYSE: SJM) got hungry for Sara Lee's (NYSE: SLE) North American Foodservice Coffee business, Kennedy-Wilson (NYSE: KW) to buy loan portfolio from Bank of Ireland (NYSE: IRE) in $1.8 billion deal.
  
  Whew! Click here to read all the M&A news from today!
  
  
• Hey Groupon, you're supposed to offer discounted deals, not discounted stock!: Many more become bearish on Groupon's (Nasdaq: GRPN) upcoming IPO, going as far as to say the Company is insolvent to shareholders.

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