Dow Closes Above 12,800 as Yahoo! Climbs Into Weekend
Here’s your Cheat Sheet to today’s top stock stories:
Apple (NASDAQ:AAPL) launched its latest iPad with little fanfare in China on Friday, avoiding the the sort of chaos that usually accompanies the company’s major product releases in the country, its most promising growth market. Gone were the long, snaking queues that usually include more than a few overnight campers, this time replaced by calm and orderly lines after Apple adopted an online reservation system that allowed it to control the flow of people to its stores.
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Yahoo’s (NASDAQ:YHOO) new chief could be looking at over $70 million in salary, bonuses, restricted stock, and stockoptions over the next five years, according to a regulatory filing made by the company on Thursday. Marissa Mayer, who joins Yahoo from a long stint at Google (NASDAQ:GOOG) where she was an executive and key spokesperson, will be receiving $1 million in annual salary, as much as $2 million in an annual bonus, and $42 million in stock options and other awards, as well as $14 million in “make whole restricted options” for forfeiture of compensation from Google.
On this down day, SanDisk’s (NASDAQ:SNDK) shares jumped 11 percent after Thursday’s better-than-expected second quarter results. Its earnings beats estimates but its net income declined from the previous year.
Dole Food Company (NYSE:DOLE) also had a good day thanks with shares rising almost 15 percent thanks to its second quarter earnings report also after Thursday’s market close. In the quarter, the company’s net income dropped to $65.5 million from $83.1 million as compared to the previous year. While revenue didn’t top analysts’ estimates, it did exceed expectations for earnings per share.
Chipotle Mexican Grill’s (NASDAQ:CMG) shares lost more than 20 percent of its value after reporting earnings on Thursday after the bell. The company said sales had slowed in the second quarter and that sales at restaurants open at least 13 months rose eight percent but came up short against analysts’ estimates of a 10 percent rise. Sales started slowing in April, beginning a trend that continued through May and June, according to Chipotle’s executives.