Closing Bell: JetBlue Cuts 2016 Growth Outlook; Stocks Fall

Stocks extended declines through the final hour after crude closed below $50 a barrel. Oil pulled the markets lower after the number of active oil rigs in the U.S. climbed for the second week in a row. JetBlue (JBLU) - Get Report slid on Friday after the company reported disappointing May data. The airline also cut its capacity growth outlook for 2016 on expected lower unit revenue and higher fuel prices. H&R Block (HRB) - Get Report rose after topping fourth-quarter estimates on its top and bottom line. However, total returns for the latest tax season did decline. The tax preparer also raised its quarterly dividend by 10%. Smith & Wesson (SWHC) declined after Wedbush grew bullish on the company ahead of its earnings report next week.