Streaking, laughing, following Spurs' final (8)
I believe the answer is:
shooting
'streaking' is the definition.
(eg shooting across the sky)
'laughing following spurs' final' is the wordplay.
'laughing' becomes 'hooting'.
'following' is a charade indicator (letters next to each other).
'final' suggests the final letters.
The last letter of 'spurs' is 's'.
'hooting' put after 's' is 'SHOOTING'.
(Other definitions for shooting that I've seen before include "sort of star?" , "gunfire" , "Using a gun" , "Dashing" , "- Jacket; - star" .)