9-10-13 12:17 PM EDT | Email Article
 

By Sue Chang and Ben Eisen, MarketWatch

 

SAN FRANCISCO (MarketWatch) -- Apple Inc. shares headed south on Tuesday as investors awaited the smartphone maker's latest iPhone models.

 

Top tickers trending

 

$AAPL: All eyes are on Apple (AAPL) headquarters in Cupertino, Calif., where the technology company is widely expected to roll out a lower priced model. The big question for most was not what Apple would bring to the show-and-tell but what the price tag would be. After rising more than 10% in the past month, Apple shares were off 0.4% Tuesday.

 

$BBRY: Shares of rival smartphone maker BlackBerry (RIMM) sank almost 5%. 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.

 

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 3.2%, Visa gained 2.8% and Nike rose 1.5%.

 

News that Hewlett-Packard will no longer be part of the Dow didn't bode well for the company's share price, which fell 0.7%. However, Bank of America took the news in stride with the stock up 1.2% while Alcoa was off a fraction.

 

$INTC: Intel Corp. (INTC) is the other big tech story on Tuesday. The world's biggest chip maker is hosting a developer conference in San Francisco where Chief Executive Brian Krzanich will give the keynote address. Investors are likely to look for clues on how Intel will navigate in a post-PC era. Intel shares extended gains from Monday to rise 0.5%.

 

$NFLX: Netflix Inc. (NFLX) rallied 4.5% to its all-time high of $307.75 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.

 

Gainers

 

E-Trade Financial Corp. (ETFCD) shares added 4.6%, among the biggest gainers in the S&P 500. The online brokerage said in a regulatory filing that its from a year ago.

 

Palo Alto Networks Inc. (PANW) climbed above 4% after the Internet-security company reported late Monday that its core earnings improved in the fourth quarter while its bottom line deteriorated.

 

Discount teen accessories retailer Five Below Inc. (FIVE) shares jumped 14% after the company reported that its second-quarter profit more than tripled.

 

Christopher & Banks Corp. (CBK) traded up 5% after it reported that its second-quarter loss narrowed. Costs declined while revenue turned higher.

 

International Game Technology (IGT) shares rose 5.7%. IGT is one of the 10 stocks that typically rally starting in late August, according to Bespoke Investment Group.

 

Decliners

 

Urban Outfitters Inc. (URBN) slumped 11%, 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 digit. Analysts surveyed by FactSet are projecting comparable sales to rise 6.3%.

 

Shares of Crocs Inc. (CROX) fell 3.7%, paring earlier 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 6.3%.

 

ConAgra Foods Inc. (CAG) shares slid 7%. 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

 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


(END) Dow Jones Newswires

09-10-13 1217ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar


Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - UPDATE: Apple slips ahead of iPhone show-and-tell
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: UPDATE: Apple slides over 2% as two new iPhones unveiled  |  Next: UPDATE: Apple slips, Urban Outfitters up on analyst call