NEW YORK -- Netflix (NFLX) CEO Reed Hastings and his company received a Wells Notice from the Securities and Exchange Commission for a social network post.
The controversial chief of the DVD-rental and streaming-media company received a Wells Notice for a Facebook (FB) post that claims Hastings violated the Regulation Fair Disclosure, Section 13(a) of the Securities Exchange Act and Rules 13a-11 and 13a-15.
Staff at the SEC are recommending Hastings and Netflix face civil enforcement over the post the executive made in July, which claimed Netflix users "had enjoyed over 1 billion hours" of content in June. The company didn't issue a press release or file an 8-K with the information at the time, which the SEC says Hastings should have done because it was "material" investor information.
Palo Alto Networks (PANW) said Thursday it swung to a fiscal first-quarter loss of $3.5 million, or 5 cents a share. Adjusted profit in the quarter was 4 cents a share, topping analysts' estimates by a penny as revenue jumped 50% to $85.9 million. The network security company said it expects adjusted earnings in the fiscal second quarter of 4 cents a share on revenue of $90 million to $94 million; analysts forecast profit of 4 cents a share on revenue of about $91 million. Why Palo Alto Networks Is a Buy Ahead of Earnings
Smith & Wesson (SWHC) swung to a profit of $21.1 million, or 31 cents a share, in the fiscal second quarter. The board of the gun maker also approved $20 million in stock buybacks.
Amarin (AMRN) announced Thursday plans to raise $100 million in debt financing and the intention to hire 250 to 300 sales representatives, in a go-it-alone launch strategy for lipid-lowering prescription fish-oil pill Vascepa. The announcement disappointed investors were were hoping for a marketing partnership. The stock plunged 21% in after-hours trading Thursday. Amarin's Sad And Lonely Vascepa Launch Party
Geo Group (GEO) said Thursday it would pay a special dividend of $5.68.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV