Radar Stocks: Apple Defies Market Pullback, Wal-Mart Hits All-Time High
Despite a broad market pullback and iPhone 5 supply issues, Apple (NASDAQ:AAPL) shares closed higher on Wednesday and continue to attract attention in late afternoon trading. The tech giant has asked Foxconn to tighten quality control measures while manufacturing the iPhone 5 after complaints of scratches on the device’s body.
Wal-Mart (NYSE:WMT) shares reached a new all-time high near $77 on Wednesday. The company, which operates more than 4,000 stores in the United States, is rolling out a new program called Wal-Mart To Go. The service costs $10 per order, regardless of size, and promises same-day shipping for orders placed by noon. Wal-Mart is currently testing the new offering in Philadelphia, Northern Virginia and Minneapolis. Later this month, Wal-Mart To Go will be added to San Francisco and San Jose. Amazon (NASDAQ:AMZN) shares fell more than 2 percent on the news, and continues to edge lower in late trading.
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Shares of Facebook (NASDAQ:FB) fell 2.90 percent yesterday following a report from Piper Jaffray, which showed that social gaming is losing interest among teens. Analyst Michael Olson writes, “Social gaming has been adversely impacted by weakening fundamentals, including declining daily active users, low engagement and deteriorating monetization trends.” The survey found that 83 percent of students do not play social games on sites like Facebook. Shares of Zynga (NASDAQ:ZNGA) also took a 3.5 percent hit after the announcement. Facebook shares are recovering this morning in pre-market trading.
Hewlett-Packard (NYSE:HPQ) shares fell in late afternoon trading yesterday, but are moving higher this morning in pre-market. The latest report from Gartner says that worldwide PC shipments are expected to decline 8 percent in the third quarter of 2012. Furthermore, Lenovo passed HP as the world’s number one PC vendor for the first time in its history.
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