NEW YORK ( TheStreet) -- The markets moved higher Wednesday as the Fed left interest rates alone. The Dow Jones Industrial Average rose 8.25, or 0.07%, to 11,985.44. The S&P 500 rose 5.45, or 0.42%, to 1,296.63. The Nasdaq rose 20.25, or 0.74%, to 2,739.63. Pete Najarian said on CNBC's "Fast Money" TV show, that Netflix ( NFLX) was moving higher on blow-out numbers in its earnings report, including a subscriber base that topped 20 million. He was impressed with the company's operating margin of 13% and its ability to raise DVD rentals. For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw on TV
Guy Adami said the market gave the stock the pass, despite a disappointing gross margin and a churn of 3.8%. He said a lot of investors who were shorting the stock into earnings were feeling a lot of pain. He also said the stock would have to move above $209.24 to move higher. Karen Finerman considered the 25% short interest dangerous. "I don't know what you would do if you are short." Brian Kelly said Netflix were offering a lot of more free trials but not doing a good job of converting them into subscriptions. Melissa Lee, the moderator of the show, said it was disconcerting to see there was little in the way of guidance except for a reference to domestic operating margins of 14%. Adami said naysayers and shorts will take that lack of guidance and lean into the stock Thursday. However, he said it's hard to short the stock. Joshua Brown said the options market was pricing in a 10 percent move in either direction. He said no one is getting squeezed just yet. Michael Pachter, an analyst with Wedbush Securities, mentioned three reasons why he is down on the stock. He said the company needs to grow its revenue faster to justify being a $200 stock. He said the lack of annual guidance was a "giant smoking gun" for investors about its ability to grow. And he said the company faces higher content costs.