Updated from 5:34 p.m. ET to include Finisar, other companies, latest prices
The stock was last quoted at $213.03, down 8.7%, on volume of around 520,000, according to Nasdaq.com.
"Starz Entertainment has ended contract renewal negotiations with Netflix," said Chris Albrecht, the company's president and CEO, in a statement. "When the agreement expires on February 28, 2012, Starz will cease to distribute its content on the Netflix streaming platform."
FinisarShares of Finisar (FNSR) jumped late Thursday after the optical communications equipment maker topped its earnings forecast for its latest quarter by keeping a lid on operating expenses. The stock rose nearly 10% in extended action to $20.39 on volume of more than 800,000. The Sunnyvale, Calif.-based company reported a non-GAAP profit of $19.5 million, or 21 cents a share, for the three months ended in July on revenue of $228.2 million. The average estimate of analysts polled by Thomson Reuters was for earnings of 18 cents a share in the quarter on revenue of $228.4 million. Finisar had projected earnings of 16 to 20 cents a share in its fiscal first quarter. The company said gross margins came in at 32.1%, above its expected range of 30.7% to 31.7%. Other optical networkers were also active in the after-hours session with JDS Uniphase (JDSU) rising 2.5% to $13.30 on volume of more than 600,000; and Oclaro (OCLR), adding 6.5% to $4.45 on volume of more than 50,000.
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