U.S. stocks moved lower as an earnings-driven selloff in Facebook (FB) and Fitbit (FIT) shares dragged on the Nasdaq. Crude also declined for its fifth session, settling at six-week lows. 21st Century Fox (FOXA) beat profit and sales estimates in its recent quarter on strength in its film and TV segments. Higher affiliate fees at Fox News and a strong box office performance for Independence Day: Resurgence drove its results. Small-cap stock Lattice Semiconductor (LSCC) rallied after the company agreed to be acquired by Canyon Bridge Capital Partners. The deal values Lattice at a 30% premium to its previous close. Transocean (RIG) jumped after besting third-quarter earnings estimates. The offshore oil driller maintained a tight control on expenses and boosted its fleet efficiency over the quarter.
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