Apple Dives on iPhone Disappointment and Other #Stocks2Watch


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.