Apple JUICY Above $624 in Monday Morning Market Mayhem

Apple (NASDAQ:AAPL) shares finished last week slightly higher and are ticking higher another half percent Monday morning as detailed sales numbers became available due to the ongoing legal battle with Samsung. Samsung sold 1.4 million Galaxy Tabs between June 2010 and June 2012, generating revenue of $644 million. In contrast, Apple sold 34 million iPads in the same time frame, generating $19 billion in revenue. Apple (NASDAQ:AAPL) also managed to sell 85 million iPhones and 46 million iPod touches for combined revenue of $60.3 billion.

Shares of J.C. Penney (NYSE:JCP) are down almost 2 percent this morning after a weak second quarter earnings report. The company announced a loss of $147 million, compared to a net gain of $14 million a year earlier. Revenue also declined by 22.6 percent to $3.02 billion. “We have now completed the first six months of our transformation and while business continues to be softer than anticipated, we are confident the transformation of J.C. Penney is on track. The transition from a highly promotional business model to one based on everyday value will take time and we will stay the course,” said Ron Johnson, chief executive officer.

Manchester United (NYSE:MANU) shares are down 1 cent in pre-market trading, falling below its $14 initial public offering price. The English soccer club, with a record 19 championships, sold 16.7 million shares in a deal that valued the organization at $2.3 billion. However, the IPO priced below its initial $16-$20 range and underwriters had to support the stock price during its trading debut on the New York Stock Exchange.

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Netflix (NASDAQ:NFLX) and Facebook (NASDAQ:FB) shares attract attention in early morning trading. The WSJ reported that Reed Hastings, chief executive of Netflix, purchased roughly $1 million in Facebook stock. “In a filing with the U.S. Securities and Exchange Commission, Mr. Hastings disclosed buying 47,846 Facebook Class A shares on Wednesday at a weighted average price of $21.03 each.”

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