Morning Movers: Apple Avoids Market Pullback, Oracle Accelerates Dividends
Despite a broad market pullback, shares of Apple (NASDAQ:AAPL) finished the day in the green on Monday but dropped 0.11 percent in pre-market trading on Tuesday. The tech giant said in a press release Monday that the iPhone 5 will be available in South Korea on Friday, and in more than 50 additional countries, including Brazil, Russia, and Taiwan, in the coming days this month.
Oracle (NASDAQ:ORCL) shares dropped almost 0.50 percent in early morning trading. In order to beat any tax increases resulting from the fiscal cliff, the company will pay three quarters worth of dividends in December. The board approved an “accelerated” dividend payout totaling 18 cents. The move will also benefit chief executive officer Larry Ellison, who is also the company’s largest shareholder.
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Shares of Ford (NYSE:F) edged lower Tuesday in pre-market trading. The recent sales figures for November showed the company is experiencing a 12-year high in small car sales and the best November for the F-Series since 2005. Small car sales were up 76 percent year-over-year to 26,848 vehicles. The company’s C-Max lineup continues to perform well, with hybrid sales climbing 52 percent month-over-month to 4,848 units, making November the company’s best-ever month for electric vehicle sales. General Motors (NYSE:GM) shares gained Monday, as the automaker logged its highest U.S. November sales since 2007.
Dell (NASDAQ:DELL) posted its best gain of the year after an upgrade from Goldman Sachs (NYSE:GS). Analyst Bill Shope raised his rating on Dell to Buy from Sell, while also increasing his price target on shares to $13 from $9. Although he is not oblivious to the headwinds facing the traditional PC market, Shope believes the negativity levels are too high.
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