Shares of Ciena surged, thanks to a strong earnings report. The network equipment maker beat on both the top and bottom lines. It also said it expects results to improve in the second half of the year, driven by a widening customer base. The stock popped more than 18 percent to $22.48.
Shares of Vera Bradley tumbled after the handbag designer said its first-quarter sales tumbled almost 30 percent. Its outlook for the current quarter is also below analyst estimates. The company’s CEO says traditional products aren’t attracting enough new customers. The stock fell more than five percent to $23.89.
Netflix & Verizon
A feud flared up between Netflix and Verizon today. In a cease and desist letter, Verizon demanded that Netflix stop displaying messages to customers that place that blame on its broadband services for slow delivery of Netflix’s content. Netflix responded saying the messages were meant to provide transparency to customers. Shares of Netflix rose one percent to $428.35. Verizon also rose slightly to $49.28.
Barnes & Noble & Samsung
Samsung is teaming up with Barnes & Noble to revive its Nook business. The tablet will combine Samsung’s hardware with Nook’s software and give customers access to the book retailer’s digital collection. The new device is expected to be launched in early August. That drove shares of Barnes & Noble 3.5 percent higher to $19.57.
Rite Aid offered investors a downbeat outlook for its current quarter and Fiscal 2015, blaming higher drug costs. The drug store operator also says it expects a bigger fall in reimbursement rates. That sent shares down more than seven percent to $7.87.