By Sue Chang and Ben Eisen, MarketWatch
SAN FRANCISCO (MarketWatch) -- Apple Inc. shares retreated more than 2% on Tuesday as the technology company introduced two new iPhones that came with many of the features that had been leaked previously, including a fingerprint reading sensor.
Top tickers trending
$AAPL: As expected, Apple (AAPL) rolled out the iPhone 5C, a cheaper version of its name sake, and the iPhone 5S that boasts Touch ID, a fingerprint sensor embedded in the home button. The 5C will be available in five colors and will start at $99 for a 16 gigabyte one, while the 5S will be offered in three colors -- black, silver, and gold.
"In our view, this was a historic event for Apple as the company began segmenting the iPhone portfolio for the first time ever with a lower priced iPhone, the iPhone 5C," Brian White at Cantor Fitzgerald said in a note. "We expect that today's event will prove to be part of a larger string of events over the next year as Apple enters a year of innovation in fiscal year 2014."
Apple will start taking pre-orders for 5C this Friday with retail launch scheduled for Sept. 20, including China.
Shares of Apple, which at one time had recovered to trade slightly higher during the event, shed 2.3% to end at $494.64.
$BBRY: Shares of rival smartphone maker BlackBerry (RIMM) sank 5.1%. Reuters reported late Monday that Fairfax Financial Holdings, BlackBerry's largest shareholder, had talked to multiple investment funds about a possible proposal to take BlackBerry private, but the discussions were preliminary.
$DJIA:S&P Dow Jones Indices said Tuesday that Goldman Sachs Group Inc. (GS), Nike Inc. (NKE) and Visa Inc. (V) would join the Dow Jones Industrial Average (DJI), while Bank of America Corp. (BAC), Hewlett-Packard Co. (HPQ) and Alcoa Inc. (AA) would leave the blue-chip benchmark to make way for the newcomers.
Goldman Sachs advanced 3.5%, Visa gained 3.4% and Nike rose 2.2%.
News that Hewlett-Packard will no longer be part of the Dow dragged the stock lower by 0.4%. Alcoa shares were down 0.3%. However, Bank of America took the news in stride with the stock up 0.9%.
Netflix Inc. (NFLX) closed up 6.4% after hitting its all-time high of $313.24 earlier in the session. The video streaming company reached a deal with Virgin Media and Tivo Inc. (TIVO) that allows Virgin subscribers to access Netflix via Tivo, according to reports. Netflix will also launch its new original series "Derek," starring Ricky Gervais, on Thursday.
Discount teen accessories retailer Five Below Inc. (FIVE) shares jumped 17% after the company reported that its second-quarter profit more than tripled.
Christopher & Banks Corp. (CBK) surged 12% after it reported that its second-quarter loss narrowed. Costs declined while revenue turned higher.
Urban Outfitters Inc. (URBN) slumped 10%, at one point triggering Nasdaq's short-sale circuit breaker. The retailer late Monday said same-store sales so far in the third quarter rose by mid-single digits. Analysts surveyed by FactSet are projecting comparable sales to rise 6.3%.
Shares of Crocs Inc. (CROX) fell 2.2%, paring losses, after the shoe maker reduced its outlook after disappointing earnings. The company said it now expects third-quarter earnings of 15 cents to 18 cents per share on revenue of $285 million to $295 million. Trading of Crocs stock was temporarily halted.
PVH Corp. (PVH) reported a second-quarter loss late Monday, dragging shares down 5.6%.
ConAgra Foods Inc. (CAG) shares slid 6%. The packaged food company on Tuesday cut its 2014 earnings per share outlook to a range of $2.34 to $2.38 from $2.40 previously.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
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(END) Dow Jones Newswires
09-10-13 1629ETCopyright (c) 2013 Dow Jones & Company, Inc.
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