A.M. Movers: Facebook SURGES on Mobile Focus, Apple Edges Higher Ahead of iPhone 5
Shares of Facebook (NASDAQ:FB) poked more than 6 percent higher this morning. Last night, Zuckerberg took center stage at the TechCrunch Disrupt conference in San Francisco, a conference held for developers, entrepreneurs and venture capitalists. He provided hope to investors by highlighting positive results in mobile. “What we are seeing already, even with the early mobile ads that we have, is that they are performing even better than the right hand column ads on desktop…there’s a huge opportunity,” Zuckerberg said.
American Eagle Outfitters (NYSE:AEO) shares gained 2.95 percent. The clothing retailer announced that its board declared a special cash dividend of $1.50 per share, in addition to a regular quarterly dividend of 11 cents per share. Robert Hanson, chief executive officer stated, “The special cash dividend is a component of our capital allocation plan, which balances continued investment in our business with top tier shareholder returns.” Retail competitors such as Abercrombie & Fitch (NYSE:ANF) declined while Gap (NYSE:GPS) traded higher.
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Apple (NASDAQ:AAPL) shares edged slightly higher ahead of its special event that is expected to unveil the new iPhone. The tech giant’s online store is currently closed with a message reading, “We’ll be back. We’re busy updating the Apple Store for you and will be back soon.”
Shares of Coffee Holding Company (NASDAQ:JVA) surged 18.53 percent this morning. The company reported financial results for the three months ended July 31. Sales growth jumped 24 percent, while net income came in at 19 cents per share, compared to 3 cents per share a year earlier. “We are pleased to report this quarter’s results to our shareholder base as we overcame many obstacles to achieve strong results during the past ninety days. Despite substantially lower commodity prices, we were still able to increase our revenues by 24 percent over the same period from last year,” explained Andrew Gordon, chief executive officer.
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