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The Nasdaq Now: Apple Slides on Market Share Threat From Samsung

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It was a bullish day for shipping stocks.

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MINYANVILLE ORIGINAL US stocks remained little changed as the first trading week of 2013 drew to a close, with an earlier report showing that there was moderate job growth in December.

"We had a huge rally on news of the fiscal cliff resolution," said Mark Luschini, chief investment strategist at Janney Montgomery Scott, according to MarketWatch.

"Today's jobs report was a focus point that came in almost right on expectations," he said. "So this somewhat directionless action is indicative of the market saying the economic data is coming in as expected."

The Nasdaq Composite (INDEXNASDAQ:.IXIC) was up 0.13% to 3,104.45 points on trading volume of 807.57 million as of 12:21 p.m. EST.

DryShips (NASDAQ:DRYS) was one of the day's leading gainers, jumping 15.90% to $2.01 on an overall bullish day for shipping stocks. Frontline (NYSE:FRO) (+6.80%), NewLead Holdings (NASDAQ:NEWL) (+62.52%), and Eagle Bulk Shipping (NASDAQ:EGLE) (+38.89%) were all up on the day.

Facebook (NASDAQ:FB) also rose 3.01% to $28.60. Earlier today, Goldman Sachs reiterated a Buy rating on the social network company, saying that Facebook Gifts would be a strong monetization opportunity for the company.

Apple (NASDAQ:AAPL) slid 1.99% to $531.30. Research firm Strategy Analytics said in a report today that rival Samsung (PINK:SSNLF) is likely to extend its lead over Apple in the global smartphone market this year.

"We expect Samsung to slightly extend its lead over Apple this year because of its larger multitier product portfolio," Neil Mawston, executive director at Strategy Analytics, said, according to Reuters.

"Samsung plays in more segments and this should enable it to capture more volume than Apple (assuming Apple does not launch an 'iPhone Mini' this year)," Mawston continued.

Accuray Incorporated (NASDAQ:ARAY) plunged 20.06% to $5.42 after announcing plans to cut 13% of its workforce and offering a downbeat forecast for its fiscal second quarter and for fiscal 2013. Shares of the company were also downgraded by JPMorgan.

Finish Line (NASDAQ:FINL) also retreated 5.62% to $17.97 after posting an unexpected loss in the third quarter.

Twitter: @sterlingwong
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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