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MARKET PULSE-Apple, Invensense, Riverbed, Polycom
July 25, 2012 / 4:10 PM / 5 years ago

MARKET PULSE-Apple, Invensense, Riverbed, Polycom

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 $73.58, up 2.1 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.

** 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, $12.44, up 7 pct

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

** DELTA AIR LINES INC, $9.76, up 4.6 pct

The airlines reported quarterly profit that topped Wall Street estimates as passenger revenue increased, even as charges for staff buyouts and fuel contracts produced a net loss.

** 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, $29.20, up 6.2 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]


Brokerage Aegis Capital initiated coverage of the stock with a “buy” rating.

** INVENSENSE, $11.88, up 29.3 pct

Shares of the chipmaker rose after its quarterly results beat analysts’ expectations as more smartphone makers chose its motion tracking devices, at a time when weak demand has plagued most chipmakers.

** 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.

** ZALE CORP, $3.22, up 26 pct

Shares of the jewelry retailer rose after the company said it amended a $650 million credit facility at a lower interest rate and prepaid part of its debt, saving it $17 million per year.

** 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.

** 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.

** HEALTHWAYS INC, $10.11, up 19.7 pct

The healthcare management provider’s shares rose after it reported a quarterly profit that beat market expectations on an earlier-than-expected recognition of performance-based fees.

** SUNSHINE HEART INC, $11.95, up 19 pct

The medical device maker’s shares jumped after it won European regulatory approval for its device to treat heart failure.


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

** SOLARWINDS INC, $17.6, up 14.7 pct

The network management software maker posted better-than-expected quarterly results helped by growth in Europe, Middle East and Africa, and raised its full-year forecast.

** JUNIPER NETWORKS INC, $16.70, up 12.7 pct

Shares of the company rose after it said telecom spending is set to grow, signaling that the worst may be over for the network gear maker.

** MEDICINES CO, $25.44, up 11.1 pct

The company posted higher quarterly results on robust sales in Europe despite economic concerns in the region.

** 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.

** UNISYS CORP, $19, up 14.5 pct

The IT services provider posted a quarterly profit, helped by a 12 percent rise in sales of its high-margin ClearPath server products.

** 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.

** RF MICRO DEVICES INC, $3.66, down 14.5 pct

Shares of the company fell after the chipmaker forecast weak second-quarter results on order delays from smartphone makers.

** BUFFALO WILD WINGS INC, $69.6, down 11.7 pct

The U.S. casual dining chain’s second-quarter results fell short of Wall Street estimates as menu-price increases failed to offset rising costs of chicken wings.

** WATSCO INC, $67.37, down 10.8 pct

The heating and refrigeration products distributor reported a lower-than-expected rise in quarterly profit a

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