Shares of Netflix (NASDAQ:NFLX) are playing out like a horror show. Shares are down more than 27% in extended trading after reporting a miss in subscribers for the third quarter. The company lost 810,000 subscribers between the second and third quarter. Although the company reported a 60% increase in earnings, the company warns that future quarters are not looking so hot. Competitors include Apple (NASDAQ:AAPL), Dish Network (NASDAQ:DISH), Google (NASDAQ:GOOG), and Coinstar (NASDAQ:CSTR).
Investing Insights: Netflix, Inc. Earnings Cheat Sheet: Beats Estimates, Shares Down.
Amgen Inc (NASDAQ:AMGN) is trading slightly lower after the closing bell. The company reported quarterly profits of $454 million (50 cents per share), compared to $1.24 billion ($1.28 per share) last year. Revenues increased 3% to $3.94 billion.
After reporting a 30% drop in net income on Monday, shares of Texas Instruments (NYSE:TXN) are down 1.40% in late trading. The earnings were affected from a hit due to charges related to its acquisition of National Semiconductor. Third quarter profit came in at $601 million (51 cents per share), compared to $859 million (71 cents per share) last year.
Zions Bancorp (NASDAQ:ZION) fell 5.7% late Monday after beating estimates by only a penny. The bank reported a profit of $109.1 million, compared to a loss of $47.3 million last year.
Morgan Stanley (NYSE:MS) continues to edge .17% higher in late trading. The company announced it was unloading its residential mortgage-loan servicing unit, Saxon Mortgage Services, on Ocwen Financial (NYSE:OCN). The deal is estimated to be completed by the end of the first quarter 2012. Shares of Ocwen Fianancial are trading 1.11% lower on the news. Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C) are also trading lower.
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