9-10-13 5:35 AM EDT | Email Article

By Sue Chang, MarketWatch


SAN FRANCISCO (MarketWatch) -- Apple Inc. 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.


Ahead of the opening bell, McDonald's Corp. (MCD) is expected to post its same-store sales for August. Analysts at Lazard Capital Markets said they expect flat sales growth in the U.S. and drops in Europe and Asia. The Dow component's July same-store-sales rose 0.7%.


Christopher & Banks (CBK) is forecast to 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 2Q13,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.


Five Below Inc. (FIVE) surged 12% after hours after the discount teen accessories retailer reported results that topped forecasts.


Pep Boys-Manny Moe & Jack (PBY) fell nearly 7% after results. And PVH Corp. (PVH) was down more than 3% after the owner of brands like Tommy Hilfiger forecast full-year profits that fell short of views.

-Sue Chang; 415-439-6400; AskNewswires@dowjones.com


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09-10-13 0535ET

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