Radar Stocks: Apple Moves Lower, TripAdvisor and Starbucks Surge
Shares of Apple (NASDAQ:AAPL) closed 3.3 percent lower on Friday, and continues to attract attention in late afternoon hours. The decline came on a day the company put its brand new iPad mini on sale in stores. While there were some reports that lines outside Apple Stores may not have been as long as is usual for the company’s products, Topeka Capital analyst Brian White said that all units of the iPad mini were sold out at its New York City flagship store an hour into sales.
Chevron (NYSE:CVX) shares edged lower in late afternoon trading. Shares closed almost 3 percent lower after reporting financial results for the third quarter. Net income fell 32.3 percent to $5.3 billion ($2.69 per share), compared to $7.83 billion ($3.92 per share) a year earlier. Revenue also dropped 8.2 percent to $56 billion. Exxon Mobil (NYSE:XOM) also traded lower on the news.
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TripAdvisor (NASDAQ:TRIP) shares climbed slightly higher in late trading after surging more than 19 percent on Friday. The company said net income increased 9 percent from last year to $59.4 million (41 cents per share). Adjusted net income came in at 46 cents per share, beating analysts’ estimates by 4 cents. “As we drive continued traffic and content growth on a global scale, we are making wonderful strides to enhance the TripAdvisor experience for both our traveler community and our advertising partners alike,” Steve Kaufer, chief executive officer, said in a statement.
Shares of Starbucks (NASDAQ:SBUX) popped 9 percent on Friday. For the fourth quarter, Starbucks reported that overall revenue rose 11 percent to $3.36 billion, and net income increased by 0.1 percent to $359 million, or 46 cents per share, beating analysts’ expectations. In particular, the Seattle-based coffee chain showed strong results in same-store sales. International sales at stores open at least 13 months grew 6 percent, based on a 5 percent rise in traffic and a 1 percent rise in average spending per visit.
Investor Insight: Apple: An October to Remember or Forget?