Sohu, Changyou plunge on quarter
Jon "DRJ" Najarian | [email protected]
The Beijing-based web portal reported an unexpected third-quarter loss of $65 million, citing higher costs and a special dividend. Even worse was disappointing numbers from Sohu's online-game subsidiary Changyou.com, which missed earnings expectations. SOHU is down more than 9 percent to $74, while CYOU plunging about 16 percent to $30 in the pre-market.
Bristol-Myers Higher on Upgrade
The drug developer was upgraded by Morgan Stanley to "overweight" from "equal weight" with a price target of $60, raised from $45. Bristol-Myers Squibb pulled back after reporting quarterly results last week but is bouncing this morning. BMY is up nearly 3 percent to $50.19 on tradeMONSTER's extended-hours platform.