10 Radar Stocks: Apple Settles Above $500, Homebuilders Drop and Google Receives Approval From DOJ

After closing above $500 per share for the first time in its history, Apple Inc. (NASDAQ:AAPL) shares continue to edge slightly higher in late trading.  The tech giant is expected to unveil its latest iPad model in early March.  Shares of Amazon.Com Inc. (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) edged slightly lower.

Shares of Advanced Micro Devices Inc. (NYSE:AMD) fell .60 percent in late trading.  However, the company received an upgrade from Bernstein Research.  The firm explained that AMD has fixed a recent supply problem.  “It now appears that AMD has secured the supply they need,” Stacy Rasgon wrote in support of the upgrade to outperform from market perform.  Shares of Intel Corp. (NASDAQ:INTC) also edged lower after the closing bell.

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Rackspace Hosting Inc. (NYSE:RAX) shares jumped 5.7 percent in extended trading.  The company reported fourth quarter earnings of 18 cents per share, compared to 10 cents per share in the previous year.  Analysts were only expecting earnings of about 15 cents per share.

Masco Corp. (NYSE:MAS) shares dropped more than 4 percent after reporting a fourth quarter loss of $1.65 per share.  “Our performance in 2011 was challenged by commodity cost volatility, a competitive retail environment, a flat housing environment in North America and difficult economic conditions in Europe” said Masco’s President and CEO, Tim Wadhams. “Despite these headwinds, we continued to: strengthen our leading brand positions, including the introduction of new products and programs; improve our cost structure and productivity; invest in future growth opportunities and improve our working capital management.”  Shares of Toll Brothers Inc. (NYSE:TOL) also declined on the news.

Shares of Google Inc. (NASDAQ:GOOG) edged higher after the U.S. Department of Justice said it will allow the search giant to acquire Motorola Mobility Holdings Inc. (NYSE:MMI).

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To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com