Online movie rental company Netflix ( NFLX) on Thursday said it was lowering is third-quarter domestic subscriber estimates. "We know our decision to split our services has upset many of our subscribers, which we don't take lightly, but we believe this split will help us make our services better for subscribers and shareholders for years to come," the company said in a statement. Shares were plummeting 15% to $177.51.
UBS ( UBS), the Swiss bank, said Thursday it discovered an estimated $2 billion of losses caused by a rogue trader. Shares were tumbling 10.6% to $11.34.
Shares of Microsoft ( MSFT) were inching up 0.9% to $26.73 as the software products company said 500,000 copies of the preview version of Windows 8 have been downloaded since its debut this week.
Shares Intel ( INTC) were up 0.8% to $21.28 as Bloomberg reported the chipmaker sold $5 billion of five-, 10- and 30-year bonds -- its first sale of non-convertible debt since 1987.
Shares of Hewlett-Packard ( HPQ) were ticking up 0.6% to $23.08 as Bloomberg reported that HP options traders have been at their most bullish in two years amid optimism that the company's transition away from personal computers will prove to be successful.
BlackBerry maker Research In Motion ( RIM) is expected by analysts Thursday to report second-quarter earnings of 88 cents a share vs. last year's earnings of $1.46 a share. Shares were down 0.2% to $29.65.
General Motors ( GM) and Chrysler agreed with the United Auto Workers to extend contracts after the parties failed to reach a new agreement by a midnight deadline. GM shares were flat at $22.17.
Food and beverage giant PepsiCo ( PEP) announced a management shake-up at its biggest unit, the Americas beverage division. The unit has been losing its edge to arch rival Coca-Cola ( KO). Shares were trading sideways at $61.63.
Filtration and industrial products maker Clarcor ( CLC) posted a profit of $32.1 million, or 63 cents a share, for the third quarter on revenue of $284.8 million, up from its year-ago equivalent earnings of $28.3 million, or 55 cents a share, on revenue of $262.8 million. The earnings were below the average estimate of analysts polled by Thomson Reuters for earnings of 66 cents a share in the period on revenue of $295.3 million. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.