Apple Dives on iPhone Disappointment and Other #Stocks2Watch

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Published January 28, 2014

| FOXBusiness

Apple Dives on iPhone Disappointment and Other #Stocks2Watch

#Stocks2Watch: Apple Dives on iPhone Disappointment

Apple shares tumbled 8% in the pre-market after the world's largest tech company revealed disappointing iPhone sales figures. 

Apple [AAPL]

Apple logged better-than-expected fiscal first-quarter profits as a wider-than-expected profit margin offset in-line sales figures. However, the world's biggest technology company revealed far few sales of the iPhone -- its chief money maker -- than analysts forecast. The shares are tumbling 8% in pre-market action.

FOX Business assignment editor Jessica MacKenzie also added the following: 

What really got my attention was the a pile-up of downgrades of this morning:  Evercore, Janney, Raymond James, UBS, Barclays, Baird, Goldman Sachs, Citigroup, BMO, JPMorgan, Jefferies and Credit Suisse have all cut their target price in Apple.  

Ford [F]

The Big Three automaker posted better-than-expected quarterly profits, sending its shares climbing more than 1% in pre-market action. Economists see automakers as bellwethers for the broader economy. 

D.R. Horton [DHI]

D.R. Horton revealed an 86% surge in its quarterly net income as the biggest U.S. homebuilder capitalizes on the housing recovery. The shares are rallying north of 3% in the pre-market. 

Cliffs Natural Resources [CLF]

Casablanca Capital revealed a 5.2% stake in Cliffs Natural Resources and pushed the iron ore miner to spin off some of its international assets. The shares are surging 13% in the pre-market.

Yahoo! [YHOO]

Yahoo! posts its quarterly results after the closing bell Tuesday. Analysts will be looking to see how chief executive Marissa Mayer's bid to turnaround the media company is paying off. 

URL

http://www.foxbusiness.com/investing/2014/01/02/apple-and-other-stocks2watch/