Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Apple Disappoints but Dow and S&P Surge


After a much-anticipated Apple report, the Nasdaq declines but other indices remain high.

Despite disappointing revenues and a lower-than-average guidance from Apple, the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) surged up 0.62% to 13864.23, and up 0.37% to 1500, respectively. The Nasdaq (INDEXNASDAQ:.IXIC) declined to 3148.23, down five points.

In economic news, the US House of Representatives approved a measure to suspend the debt ceiling for three months, eliminating the threat of default, for now.

In international news, German Chancellor Angela Merkel made remarks about larger structural reforms in Europe and high youth unemployment. Japan posted a record trade deficit in 2012 after demand in Europe slackened and territorial issues with China deepened.

Apple (NASDAQ:AAPL) shares sank to $460.35, down 10.44% after it released a disappointing earnings report, with earnings per share of $13.81 (down from $13.87 last year). It was Apple's first drop in earnings per share in nine years, fueling concerns that Apple's best days are over.

Netflix (NASDAQ:NFLX) surprised analysts after releasing a fourth-quarter earnings report showing earnings per share of $0.13 after analysts expected a loss of $0.12 per share.

Xerox (NYSE:XRX) stock went up 4.09% to $7.89 after it reported fourth-quarter earnings per share of $0.30, which beat estimates.

Toyota (NYSE:TM) said it will keep sharing technology with BMW AG as both of the companies are looking to produce more low-emission vehicles. Its stock inched up 1.39% to $95.76.

Nokia (NYSE:NOK) shares fell 4.96% to $4.41 after the company announced it is eliminating its dividend to cut costs after its annual loss doubled.

Annie's (NYSE:BNNY) stock declined 1.61% to $36.00 after it recalled several different frozen pizzas over concerns that metal fragments were found in the dough.

Advanced Micro Devices (NYSE:AMD) announced a fourth-quarter loss of $0.14 per share, beating the consensus analyst estimate of $0.21 per share, buoying the stock 2.93% to $2.81.

Swift Transportation (NYSE:SWFT) shares shot up 23.07% to $12.58 after its fourth-quarter earnings per share of $0.38 far eclipsed analysts' prediction of $0.26 per share.

Natural gas producer Chesapeake Energy (NYSE:CHK) shares went up to $18.88, up 2.05% after bone-chilling temperatures hit the east coast.

According to a Wall Street Journal report, Barclays (NYSE:BCS) plans to lay off 70 people in its Asia banking investment division. Its shares declined 0.37% to $18.90.

KB Home (NYSE:KBH) announced it was planning a public offering of $115 million of common stock after delivering news that its home orders surged to 750 home orders from 488 a year earlier. Its shares declined 1.18% to $18.41.

Starbucks (NASDAQ:SBUX) will report its fiscal first-quarter results after the closing bell. Expectations are optimistic after the company has announced it will expand its number of stores and recently acquired Teavana, a global tea brand. The stock edged up 0.24% to $54.59.

AT&T's (NYSE:T) U-verse service experienced an outage earlier in the week, but power has mostly been restored. Its shares moved up 0.83% to $34.06.

Bristol-Meyers Squibb (NYSE:BMY) released its fourth-quarter results, showing an increase in earnings per share to $0.56 from $0.50 a year earlier. Its stock ascended to $36.76, up 2.46%.

In commodity futures, gold declined $12.5 to $1674.20 and crude oil went up $1.10 to $96.33.


Apple: It's Not About the Earnings!

< Previous
  • 1
Next >
No positions in stocks mentioned.
Featured Videos