Stocks Close Mixed Amid Fiscal-Cliff Jitters
In corporate news, Netflix (NFLX) CEO Reed Hastings and his company received a Wells Notice from the Securities and Exchange Commission for a social network post. Shares lost 0.22%.
The controversial chief of the DVD-rental and streaming-media company received a Wells Notice for a Facebook (FB) post that claims Hastings violated the fair-disclosure clause.
Palo Alto Networks (PANW) said Thursday it swung to a fiscal first-quarter loss of $3.5 million, or 5 cents a share. Adjusted profit in the quarter was 4 cents a share, topping analysts' estimates by a penny as revenue jumped 50% to $85.9 million. Shares were effectively flat at $51.31.
Smith & Wesson (SWHC) swung to a profit of $21.1 million, or 31 cents a share, in the fiscal second quarter. The board of the gun maker approved $20 million in stock buybacks. Shares slipped 8.6%.
Amarin (AMRN) announced Thursday plans to raise $100 million in debt financing and the intention to hire 250 to 300 sales representatives, in a go-it-alone launch strategy for lipid-lowering prescription fish-oil pill Vascepa.
The announcement disappointed investors who were hoping for a marketing partnership. Shares plunged 18.9%.
McGraw-Hill (MHP) shares popped 4.2% after the company announced a special dividend of $2.50 a share on its common stock, payable on Dec. 27.
-- Written by Andrea Tse and Joe Deaux in New York.
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