9-10-13 10:41 AM EDT | Email Article
 

By Sue Chang and Ben Eisen, MarketWatch

 

SAN FRANCISCO (MarketWatch) -- Apple Inc. shares were stuck in negative territory on Tuesday as investors awaited the smartphone maker's latest iPhone models.

 

Top tickers trending

 

$AAPL: All eyes were on Apple (AAPL) headquarters in Cupertino, Calif., where the technology company was 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 0.6% 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 3.1%, Visa gained 2.1% and Nike rose 2.1%.

 

News that Hewlett-Packard will no longer be part of the Dow didn't bode well for the company's share price, which fell 0.4%. However, Bank of America and Alcoa took the news in stride with both stocks holding on to positive territory.

 

Gainers

 

E-Trade Financial Corp. (ETFCD) shares added 5.2%, 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.

 

Decliners

 

Urban Outfitters Inc. (URBN) slumped 9.7%, 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 4.1%, 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 4.7%.

 

ConAgra Foods Inc. (CAG) shares slid 5.4%. The package 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 1041ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
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Morningstar - 2013/9/10 - UPDATE: Apple stuck in red ahead of iPhone show-and-tell
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