SAN FRANCISCO (MarketWatch) — Netflix Inc. shares surged in the extended session Monday after the streaming video company's first-quarter earnings and outlook topped Wall Street estimates.
/quotes/zigman/87598/delayed/quotes/nls/nflx NFLX 348.49, +2.75, +0.80% Netflix 12-month share price
Netflix (NFLX) rose 6% to $369.50 in heavy trading after the company reported first-quarter earnings of 86 cents a share on revenue of $1.27 billion. Analysts were looking for 81 cents a share on revenue of $1.27 billion.
The company also forecast earnings of $1.12 for the second quarter. Analysts expect second-quarter earnings of $1 a share. The company also said it was raising prices for new members.
Recently, short positions on shares of Netflix have declined even as the stock has fallen from its March 4 closing high. Follow Netflix's conference call on our live blog.
Shares of Allergan Inc. (AGN) and Valeant Pharmaceuticals International Inc. (VRX) rallied following reports that Pershing Square's Bill Ackman and Valeant were teaming up to take over Allergan.
/quotes/zigman/217110/delayed/quotes/nls/agn AGN 142.00, +8.08, +6.03% Allergan 12-month share price
Allergan shares rose 13% to $160.49 on heavy volume and shares of Valeant advanced 11% to $140 on moderate volume.
Shares of Rambus Inc. (RMBS) declined 8.5% to $11.25 on moderate volume after the company reported adjusted earnings of 17 cents a share on revenue of $78.3 million. Analysts expected 4 cents a share on revenue of $74.3 million. However, Rambus forecast second-quarter revenue of between $69 million and $74 million, while analysts expect $74.3 million.More from MarketWatch:
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