This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Netflix, Finisar: After-Hours Trading

Stocks in this article: NFLXFNSROCLRJDSUESLHRB

Updated from 5:34 p.m. ET to include Finisar, other companies, latest prices

NEW YORK ( TheStreet) -- Netflix (NFLX) shares tumbled late Thursday after Starz announced it's ended contract renewal discussions with the high-flying DVD rental and content streaming company.

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."



Albrecht continued: "This decision is a result of our strategy to protect the premium nature of our brand by preserving the appropriate pricing and packaging of our exclusive and highly valuable content. With our current studio rights and growing original programming presence, the network is in an excellent position to evaluate new opportunities and expand its overall business."

Netflix, which recently embarked on a controversial change in its pricing structure, has yet to issue its own statement on the news.

Based on Thursday's regular session close at $233.27, Netflix shares were up more than 30% so far in 2011, although they've dropped significantly since hitting a 52-week high of $304.79 on July 13.

Finisar

Shares 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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs