NEW YORK (TheStreet) -- Netflix (NFLX) shares were tumbling 9.5% to $211.02 in premarket trading Friday after Starz announced it's ended contract renewal discussions with the high-flying DVD rental and content streaming company.
Finisar (FNSR) shares were surging 8.5% to $20.16 after the optical communications equipment maker topped earnings forecasts for its latest quarter by keeping a lid on operating expenses.
The Sunnyvale, Calif.-based company reported fiscal first-quarter non-GAAP profit of 21 cents a share vs. the average estimate of 18 cents a share.
Esterline Technologies (ESL) shares were dropping 7.9% to $67.97 after the aerospace and defense products company said it now expects full-year earnings of $4.45 to $4.55 a share vs. the average analyst estimate of $5.09. The company reported third-quarter earnings of $1.21 a share, in line with expectations.
H&R Block (HRB) shares were plunging 7.4% to $14.05 after the tax preparation company reported first-quarter loss of 57 cents a share vs. the consensus target of loss of 39 cents a share.
Bank of America (BAC) shares were losing 5.2% to $7.50 on a New York Times report that said the firm may be among a handful to be sued by the Federal Housing Finance Agency for misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble. The report said the federal agency is seeking billions of dollars in compensation.
Valero Energy (VLO) has agreed to buy Murphy Oil (MUR) USA's Meraux, La. refinery and related logistics assets for $325 million, and inventories with an estimated value of $300 million. Valero shares were falling 2.3% to $21.98 and Murphy Oil shares were down 1.3% to $52.86.
AstraZeneca (AZN) shares were falling 1.7% to $45.90 after the drug company said its Crestor anti-cholesterol medicine failed to beat Pfizer's (PFE) Lipitor in a head-to-head clinical trial, dubbed Saturn.
Campbell Soup (CPB) shares were rising 1.4% to $32.30 after the company reported fourth-quarter profit of 43 cent a share, above the average analyst estimate of 38 cents a share.
Shares of AT&T (T) were edging 0.3% lower to $28.20 on a Reuters report that said that the telecommunications company may have to sell up to 25% of T-Mobile's business to assuage U.S. antitrust regulators and save its $39 billion T-Mobile acquisition plan. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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