A.M. Movers: Apple SELLS OUT iPhone 5, Kraft Gets the Boot from Dow
Apple (NASDAQ:AAPL) shares climbed 1.67 percent this morning to reach another new all-time high near $690. The tech giant’s iPhone 5 pre-orders sold out in about 60 minutes. In comparison, it took the iPhone 4S about 22 hours to sell out.
Kraft Foods (NYSE:KFT) shares fell 0.29 percent this morning. The consumer foods company will be removed from the Dow Jones Industrial Average and replaced with UnitedHealth Group (NYSE:UNH), a health insurance company. The change will take place after the close on September 21. The move is being made to reflect the growing importance of health-care spending in the U.S. economy.
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Goldman Sachs (NYSE:GS) shares edged slightly higher today. The financial firm is dialing back its junior analyst program. The WSJ reports that Goldman is getting rid of two-year contracts for the majority of analysts hired out of college and will not receive bonuses for finishing the program.
Shares of Microsoft (NASDAQ:MSFT) attracted attention this morning. The Windows maker announced it will be handing out a new Surface RT tablet to all of its 90,000+ employees. Furthermore, employees will receive a new work PC and a Windows Phone 8 unit.
Investor Insight: Apple-nomics Trickles Down to Semiconductors