Stocks BUZZING After the Bell: Apple Lower after WWDC, Facebook CAN’T Break $28
After closing 1.58 percent lower in regular trading, Apple Inc. (NASDAQ:AAPL) shares remained mostly flat in late trading. The tech giant held its annual Worldwide Developers Conference on Monday, which unveiled its new MacBook line and iOS 6. However, Apple did not provide any details on a new television set or iPhone.
Finisar Corp. (NASDAQ:FNSR) shares plunged nearly 10 percent on Monday, but bounced 1.63 percent higher in extended trading. The company announced that fourth-quarter income declined 23.6 percent to $12.5 million (14 cents per share), compared to $16.4 million (9 cents per share) a year earlier. “In our just completed fiscal fourth-quarter, our revenues were $239.9 million. Continued strength in datacom revenues were offset by lower telecom revenues. The lower telecom revenues were primarily the result of sluggish carrier capital expenditures and the full three month impact of annual price reductions for telecom products,” said Jerry Rawls, Finisar’s executive Chairman of the Board.
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Seagate Technology (NASDAQ:STX) shares jumped 3.24 percent after the closing bell. David Einhorn’s Greenlight Capital showed in a regulatory filing that it increased its stake in the company to 23.1 million shares. In comparison, the hedge fund owned 14.5 million shares at the end of March.
Juniper Networks Inc. (NYSE:JNPR) shares edged .73 percent higher in extended trading, after falling almost 3 percent on Monday. The company announced plans to repurchase up to $1 billion of its stock. The buyback plan is in addition to a prior $1 billion program approved in 2010.
Facebook (NASDAQ:FB) shares are showing signs of life around $27. Apple announced at the WWDC that Facebook will be integrated in the new iOS 6. Users will be able to post right from within apps, such as Camera or Photos. Shares of the social-media giant gained .50 percent in late trading.
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