Market Insider

Early movers: LL, VIAB, ORCL, SWHC, FNSR, REV, VRX

Stocks to Watch: June 17, 2016

Take a look at some of Friday's early movers:

Viacom — The media firm updated its earnings guidance for the current quarter to a range of $1.00 to $1.05 a share, below FactSet expectations, due to the "theatrical underperformance" of "Teenage Mutant Ninja Turtles: Out of the Shadows." Viacom also forecast a decline in domestic ad sales declines to about 4 percent.

Earlier, RBC upgraded the stock to "sector perform" from "underperform" and raised its price target to $45 from $34 after Sumner Redstone's National Amusements removed five Viacom directors, including CEO Philippe Dauman, from the media firm's board. Seemingly inevitable management change removes a major overhang, RBC said, while competition in a changing media business remains an obstacle to unlocking further value in the near term. BTIG also upgraded the stock late Thursday. Viacom closed more than 6.5 percent higher at $45.05 a share Thursday.

Lumber Liquidators — The firm has agreed not to sell its existing inventory of laminate flooring previously sourced from China, the U.S. Consumer Products Safety Commission said. Lumber Liquidators discontinued sale of the product in question in May 2015, and the regulator said any sale or disposal of remaining inventory is subject to its approval.

Oracle — The business software maker reported quarterly revenue that topped expectations, helped by an increase in cloud service customers. Reported revenue of $10.59 billion did mark a 1 percent decline from the same period last year, while ex-items earnings of 81 cents a share were in-line with expectations and rose from 78 cents per share the same period last year.

Smith & Wesson — The firearm manufacturer reported earnings that beat on both the top and bottom line, and issued a forecast that was above expectations.

Valeant Pharmaceuticals — The embattled drugmaker announced its wholly owned subsidiary Valeant Canada is investing $27.5 million in manufacturing facilities in Canada.

Finisar — The optical communications products supplier reported revenue of $318.8 million that topped expectations. Current-quarter forecast was at the higher range of FactSet expectations.

Revlon, Elizabeth Arden — The two beauty and cosmetics firms will merge with Revlon's roughly $419.3 million purchase of Elizabeth Arden. The deal is expected to close this year.