Morning Movers: Apple Holds Steady, Zynga and Joy Global Log Gains
Shares of Apple (NASDAQ:AAPL) edged slightly lower during early morning trading. Speculation continues to build on a television set from the tech giant. Apple is working with component suppliers in Asia on testing designs for a large-screen, high-resolution television set, the company’s supply sources told The Wall Street Journal. Testing has been continuing for a few years on several prototypes, the report added.
Joy Global (NASDAQ:JOY) shares surged on Wednesday after reporting financial results for the fourth quarter. Net income rose to $212.6 million ($1.99 per share), compared to $172.3 million ($1.62 per share) a year earlier. Revenue also increased 19.4 percent to $1.59 billion.
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Zynga (NASDAQ:ZNGA) shares jumped more than 2 percent in pre-market trading. The gaming company announced that it will soon launch Elite Slots on Facebook (NASDAQ:FB), a new casino game. However, the game does not involve real-money. Those gambling efforts are still in the distance for Zynga.
Shares of Costco Wholesale (NASDAQ:COST) edged slightly higher on Wednesday. Costco recently reported that net earnings surged 30 percent to $416 million (95 cents per share) for the twelve weeks ended November 25, 2012, compared to $320 million (73 cents per share) for the same period a year earlier.
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