4 Late Radar Stocks: Apple Edging Higher THQ Drops 20%, and PSUN Surges 40%
Shares of Apple Inc. (NASDAQ:AAPL) are edging .17% higher in late trading. The tech giant will be opening a new Apple store in Grand Central Station this Friday. It will be the fifth Apple store in New York. Competitors include: Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG) and Microsoft (NASDAQ:MSFT).
Cisco Systems (NASDAQ:CSCO) closed more 1.39% higher on Wednesday. The company’s CEO John Chambers, urged shareholders to support a proposal that would cut taxes on repatriated profits, in order to create more jobs in the US. The company may also pay higher dividends.
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Shares of THQ Inc. (NASDAQ:THQI) are getting slammed 20% after the closing bell. The company reported that net earnings for its third fiscal quarter will be 25% below previous estimates. The cause was weaker-than-expected sales of its uBraw game tablet. “Despite uDraw’s strong success on the Wii in fiscal 2011 and market research indicating strong demand for uDraw on Xbox 360 and PlayStation 3 (NYSE:SNE), initial sales of our uDraw tablet and software on these high-definition platforms have been weaker than expected,” CEO Brian Farrell explained.
After announcing store closures, shares of Pacific Sunwear of California Inc. (NASDAQ:PSUN) are surging more than 40% in extended trading. The company said it will close 175 to 200 underperforming stores in the next 14 months, due to a lease renegotiation with landlords. Competitors include: American Eagle Outfitters, Inc. (NYSE:AEO) and Aeropostale, Inc. (NYSE:ARO).
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