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MARKET PULSE-Apple, Radioshack, Riverbed, Netflix
July 25, 2012 / 2:39 PM / 5 years ago

MARKET PULSE-Apple, Radioshack, Riverbed, Netflix

July 25 (Reuters) - Some U.S. stocks on the move on Wednesday:

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The Nasdaq fell after new U.S. single-family home sales dropped by the most in more than a year and revenues from Apple disappointed, while the Dow rose after stronger-than-expected earnings from Caterpillar and Boeing.

** APPLE INC, $579.50, down 4.6 pct

The company results fell short of Wall Street’s lofty expectations as a sagging European economy and a pause in iPhone sales ahead of a new version saw revenues slip from the previous quarter.

This prompted a few brokerages to slightly lower price targets for the stock but, with the next iPhone looming, most analysts urged investors to see this as a buying opportunity.

** BOEING CO, $73.90, up 1.6 pct

The company reported a greater-than-expected increase in second-quarter profit and raised its full-year earnings forecast as rising airplane deliveries offset higher pension costs.

** CATERPILLAR INC, $85, up 2 pct

The world’s largest construction machines maker’s quarterly profit easily beat Wall Street’s expectations, helped in part by growing sales of mining equipment, and it raised its 2012 forecast.

** FORD MOTOR CO, $9, down 1 pct

The second-largest U.S. automaker reported a better-than-expected second-quarter profit on Wednesday, but roughly doubled its forecast for losses in Europe, where a deepening economic crisis pushed industry auto sales to their lowest level in nearly 20 years.

** PEPSICO INC, $69.70, up 1 pct

The beverage and snack maker reported a higher-than-expected quarterly profit, helped by price increases, and stood by its full-year outlook.

** US AIRWAYS GROUP INC, $9.40, up 2 pct

The U.S airline reported a sharply higher quarterly profit, benefiting from strong passenger demand during the summer travel season.

** MOTOROLA SOLUTIONS INC, $46.60, up 3.3 pct

The communications equipment maker’s quarterly profit missed Wall Street estimates, hurt by lower demand at its enterprise business, but it forecast third-quarter revenue below expectations.

** AOL INC, $28.63, up 4.1 pct

The company posted a quarterly net profit compared with a year-earlier loss, as global advertising revenue rose 6 percent, reflecting strong growth at the internet company’s third-party network and international display businesses. [ID: nL4E8IP3PM]

** RADIOSHACK CORP, $2.70, down 27 pct

The electronics retailer reported a surprising loss for the second quarter as increased demand for lower margin mobile handsets squeezed margins, and said it would suspend dividend payments to reduce debt.

** RIVERBED TECHNOLOGY INC, $18, up 23 pct

The network gear maker forecast a better-than-expected third quarter helped by growth in its core wide area network (WAN) equipment business.

** NETFLIX INC, $62.49, down 22.5 pct

The online video rental company warned that it might sign up fewer new subscribers this year than it had targeted.


The company’s quarterly results trumped Wall Street estimates as customers spent more at the hardwood flooring retailer’s stores and lower product costs boosted margins, prompting the company to forecast a strong year ahead.

** INVENSENSE, $11.18, up 22 pct

The company reported earnings that beat analysts’ estimates.

** IROBOT CORP, $23.30, up 20 pct

The company posted second-quarter results that beat market expectations, and raised its 2012 earnings outlook on strong demand for its home robot products.


THE organic groceries and dietary supplements retailer’s stock made its market debut.

** TRIPADVISOR INC, $35.39, down 18.5 pct

Shares fell on concerns that the travel website’s shift away from search engine marketing to new tools like social media is hurting growth.

** POLYCOM INC, $7.73, down 15 pct

The videoconferencing company warned of continued weakness at its European business and gave a weak outlook amid tough competition.

** SYMANTEC CORP, $15, down 14 pct

The world’s biggest maker of security software unexpectedly replaced its Chief Executive Enrique Salem naming current chairman and former Intuit Corp CEO Steve Bennett to run the company.

** ANCESTRY.COM INC, $31.50, up 15 pct

The family-history research website is exploring a sale to private equity firms and is hoping to solicit revised bids from them in early August, two sources familiar with the matter said.


Several analysts cut their price targets on the stock after the company reported disappointing quarterly results.

** WATSCO INC, $66.37, down 12.2 pct

The heating and refrigeration products distributor reported a lower-than-expected rise in quarterly profit as it sold more low-margin products, and the company cut its full-year forecast.

** WELLPOINT INC, $54.90, down 11 pct

The health insurer posted a lower-than-expected quarterly profit on Wednesday and cut its full-year earnings forecast, citing lower enrollment and higher medical cost trends.

** LEVEL 3 COMMUNICATIONS INC, $18.35, down 10.3 pct

The online content delivery company posted a bigger-than-expected quarterly loss on a fall in orders from the U.K. government.

** WEBSENSE IN, $15.03, down 9.6 pct

The data security software maker reported a higher second-quarter profit due to more revenue from its software and service business, and lower taxes.

** BROADCOM CORP, $33.75, up 9 pct

The company posted second-quarter earnings and revenue that were above Wall Street expectations and forecast revenue growth in the current quarter.

** CTRIP.COM INTERNATIONAL, $13.67, down 8.1 pct

Several analysts cut their price targets on the stock after it reported a slip in gross margins.

** NORANDA ALUMINUM HOLDING CO, $6.61, up 4.75 pct

The company reported second-quarter results that beat analysts’ estimates as higher shipments of aluminum and flat-rolled products offset lower prices.

** ZYNGA INC, $5.08, up 3.3 pct

The online gaming company is expected to reports results after markets close. Its shares are at an all-time low just six months after its ill-timed debut.

Compiled by Avik Das in Bangalore

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