|The Markets Now: Apple Gains on New Product News; Google Drops After Chairman Sells Stock|
By Casey Quinlan FEB 11, 2013 11:55 AM
Blue chips AIG and Goldman Sachs move up.
Stocks edged down Monday as investors await more news from Europe and President Barack Obama's State of the Union speech.
The Dow (INDEXDJX:.DJI) fell 15 points to 13977.15 and the S&P 500 (INDEXSP:.INX) moved down 0.04% to 1517.25. The Nasdaq (INDEXNASDAQ:.IXIC) inched down 0.03% to 3192.85.
The New York Times and the Wall Street Journal both reported Apple (NASDAQ:AAPL) is working on a new wristwatch device. Its stock rose 1.96% to $484.22.
Goldman Sachs (NYSE:GS) named Gregg Lemkau as global co-head of mergers and acquisitions. He previously worked as Goldman Sachs' co-head of technology and media group. Shares moved up 0.32% to $152.11.
Hakon Invest (STO:HAKN) acquired the rest of Nordic retailer ICA's shares for $3.1 billion. The stock is up 18.6% at 156.00 SEK.
The Food and Drug Administration asked for more tests of Novo Nordisk's (NYSE:NVO) insulin Tresiba to further analyze heart risks. Shares took a beating, falling 13.73% to $165.88.
Regulatory filings show Google (NASDAQ:GOOG) Executive Chairman Eric Schmidt will sell $3.2 million worth of his 7.6 million shares, sending shares down 0.86% to $778.61.
Analysts expect Tesla Motors (NASDAQ:TSLA) to report a fourth-quarter loss of $0.59 per share. Shares sank 3.44% to $37.89.
Loews Corp. (NYSE:L) posted a fourth-quarter loss of $32 million or $0.08 per share, after Hurricane Sandy burdened the company with high insured losses. Its stock moved down 0.55% to $43.61.
Annie's (NYSE:BNNY) shares fell 1.40% to $36.04 after the company reported second-quarter fiscal 2013 earnings, bringing in $46.7 million in net sales, an increase of 20.1%. Adjusted net income for the second quarter was $0.24 per share compared to $0.22 per share for the second quarter of fiscal 2012.
Lion's Gate (NYSE:LGF) will report third-quarter earnings of $0.21 per share, analysts predict. Its stock inched up 0.10% to $19.15.
Nielsen Holdings' (NYSE:NLSN) fourth-quarter earnings are expected to reach $0.56 per share. Last quarter Nielsen beat expectations by $0.06 . Shares slumped 0.94% to $32.50.
American International Group's (NYSE:AIG) stock ascended 1.47% to $39.36. The New York Attorney General Eric Schneiderman is attempting to overturn a court decision that would block him from stopping a $115 million settlement between AIG shareholders and its former CEO.
The UK Accounting regulator The Financial Reporting Council is probing Autonomy Corp (PINK:AUTNF) accounts between 2009 and 2011. Hewlett-Packard (NYSE:HPQ) recently acquired Autonomy, taking a $8.8 billion writedown. Shares moved up 1.26% to $65.20.
Amgen (NASDAQ:AMGN) shares fell 1.51% to $85.00. The biotech drugmaker raised its 2013 earnings outlook to account for government tax settlement and said it predicts $1 billion in sales by 2015 from new developments in emerging markets like Japan and China.
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