By Sue Chang, MarketWatch
SAN FRANCISCO (MarketWatch) -- Apple Inc., McDonald's Corp., Visa Inc., Nike Inc. and Crocs Inc. are Tuesday's stocks to watch.
Apple is expected to dominate the headlines and the blogsphere on Tuesday as it hosts a media event at its headquarters in Cupertino, Calif., where it is expected to announce the release of a lower-priced iPhone.
"We have long argued that for iPhone sales to continue to grow longer term Apple needs to sell a new device at a mid-range price point in order to build scale in emerging [markets]. The iPhone 5c seems to be a possible move in this direction. Our checks to date suggest that the 5c is likely only a first step towards the mid-range though," said Stuart Jeffrey at Nomura in a note.
Shares of Apple (AAPL), which have gained more than 10% over the month in anticipation of the unveiling, climbed 1.6% to close at $506.17 Monday. They were down 0.9% early Tuesday.
Ahead of the opening bell, McDonald's Corp. (MCD) said global same-store-sales rose 1.9% in August, topping forecasts, on better-than-expected results in Europe. Shares rose 0.7%.
Goldman Sachs Group Inc. (GS) rose 3% after the publisher of the Dow Jones Industrial Average (DJI) said the investment bank will replace Bank of America Corp. (BAC) in the benchmark index. Visa Inc. (V) rose nearly 2%. It will replace Hewlett Packard Co. (HPQ). Nike Inc. (NKE) also rose nearly 2%. It will replace Alcoa Inc.(AA), which fell nearly 2%.
Crocs Inc. (CROX) shares fell 4% after the shoe and sandal seller cut its revenue and profit guidance.
Christopher & Banks (CBK) shares rose 2.4%. The women's retailer reported a loss of a penny of share on sales of $104.2 million. Analysts polled by FactSet had forecast the women's retailer would report a penny loss on $105 million in sales.
Texas Instruments Inc. (TXN) is scheduled to release its mid-quarter outlook for the third quarter late Tuesday. In July, the chip maker projected per-share earnings of 49 cents to 57 cents on revenue of $3.09 billion to $3.35 billion. Analysts forecast earnings of 53 cents a share on revenue of $3.23 billion, according to a consensus survey by FactSet.
Also after the bell, Restoration Hardware Holdings Inc. (RH) is likely to report second-quarter earnings of 42 cents a share. "We expect the RH brand continues to grow and evolve in [the second quarter of 2013], with strong tailwinds from new and existing product lines," David Schick, an analyst at Stifel Nicolaus, said in a note.
Monday's after-hours movers
After Monday's closing bell, Palo Alto Networks Inc. (PANW) reported its fourth-quarter loss widened to 22 cents a share from 18 cents a share a year ago. Revenue rose to $112.4 million from $75.6 million. Shares of Palo Alto initially fell and then recovered, up more than 2% after hours. They were up 4% Tuesday.
Five Below Inc. (FIVE) surged 12% after hours after the discount teen accessories retailer reported results that topped forecasts. They were up 15% Tuesday.
Pep Boys-Manny Moe & Jack (PBY) fell nearly 7% after results. They were down 1% Tuesday. And PVH Corp. (PVH) fell 5% after the owner of brands such as Tommy Hilfiger forecast full-year profits that fell short of views.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
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(END) Dow Jones Newswires
09-10-13 1028ETCopyright (c) 2013 Dow Jones & Company, Inc.
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