Verizon soars on beat, Starbucks' big China deal, AstraZeneca sinks as drug trial disappoints

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

Earnings top our list: Verizon (VZ) shares were higher in early trading. Dow component and parent company of Yahoo Finance delivered earnings that matched estimates, while revenue beat expectations as its unlimited data plan helped attract more subscribers last quarter.

Dow component Procter & Gamble (PG) is eyeing a new high this morning. The consumer products giant posted a beat on both its top and bottom lines for the second quarter thanks to cost cutting. However, revenue fell slightly from a year ago. P&G has been under pressure to boost sluggish sales from activist shareholder Nelson Peltz.

AstraZeneca (AZN) shares plunged on Thursday. The pharma giant said a combination of two of its oncology drugs meant to shrink cancer tumors was no better than standard chemotherapy. Now investors are worried the company won’t meet its revenue goals despite other successes earlier in the year.

Scripps Networks (SNI) is back in the spotlight. The stock soared in early trading following reports that cable TV network Discovery (DISCA) is in the lead to buy the home of HGTV and Food Network after Viacom (VIAB) dropped out of the bidding race. Discovery’s acquisition could come as soon as next week with an offer around $90 per share.

And we’re also keeping an eye on Starbucks (SBUX). The coffee chain said it’s buying the remaining 50% stake of its East China business for about $1.3 billion. This aligns with its goal to operate 5,000 stores in mainland China by 2021. Starbucks is also set to report quarterly results after the close of trading today.