This Day On The Street
Continue to site
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

Netflix, Finisar: After-Hours Trading

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

NEW YORK ( TheStreet) -- Netflix (NFLX - Get Report) 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

"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.


Shares of Finisar (FNSR - Get Report) 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 - Get Report), adding 6.5% to $4.45 on volume of more than 50,000.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JDSU $6.28 -0.79%
ESL $66.59 0.00%
FNSR $15.98 0.00%
HRB $20.03 0.00%
OCLR $4.86 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs