Radar Stocks: Apple Shares Recover, Beazer Splits
Shares of Apple (NASDAQ:AAPL) declined another 2 percent on Thursday, but are moving higher in morning trading today. According to a recent report by Gartner, the world’s most valuable company shipped a little more than 2 million units in the third quarter, compared to 2.21 million units in the third quarter of 2011. Despite the 6.1 percent slowdown in shipments, Apple still increased its market share to 13.6 percent, compared to 12.5 percent a year earlier.
Advanced Micro Devices (NYSE:AMD) plunged more than 7 percent in after-hours trading yesterday. The company slashed its third-quarter revenue estimates, citing weak demand. Sales in the most recent period are expected to fall around 10 percent sequentially. AMD explains in a press release, “The lower than anticipated preliminary revenue results are primarily due to weaker than expected demand across all product lines caused by the challenging macroeconomic environment.” Intel (NASDAQ:INTC) shares also declined slightly on the news.
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Beazer Homes USA (NYSE:BZH) shares fell nearly 2 percent in late afternoon hours yesterday. The company announced the effectiveness of a 1-for-5 reverse split of its common stock. Shareholders approved the move at a special meeting on Thursday. The company is one of the ten largest single-family homebuilders in the United States.
Shares of Sprint Nextel (NYSE:S) surged 14 percent on Thursday on news that Softbank, Japan’s third-largest mobile carrier, is reportedly in talks to buy 75 percent of Sprint for more than $12.8 billion. Softbank claims the reports are “based on speculation.” The company added, “We have not announced anything. We do not comment on speculation.” However, Sprint confirmed it is within talks and it involves “a potential substantial investment by Softbank.”
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