Morning Movers: Apple Climbs Higher, Bank of America Receives Upgrade
Shares of Apple (NASDAQ:AAPL) jumped 1.42 percent higher Tuesday in pre-market trading . Despite a downgrade from Citigroup (NYSE:C), the tech giant relieved some China fears by announcing it sold 2 million iPhone 5 units in just 3 days, topping the iPhone 4S launch in the nation.
Bank of America (NYSE:BAC) shares jumped 2 .64 percent during early morning trading after analyst Meredith Whitney upgraded the bank and financial sector. She believes “the banks right now are more than adequately capitalized” and Bank of America could eventually quadruple its dividend.
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Shares of Eli Lilly (NYSE:LLY) edged slightly higher on monday. The company declared a dividend for the first quarter of 2013 of 49 cents per share. The board of directors also approved a new $1.5 billion share repurchase program.
Nike (NYSE:NKE) attracted attention after announcing a management shakeup. Roger Wyett, President of its Affiliates, will become Vice President of Action Sports. He will have responsibility for Nike’s skateboarding and snow businesses, as well as Hurley International LLC. “Roger’s leadership over these important businesses will help continue to drive success for Nike,” said Mark Parker, President & CEO of Nike.
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