After hitting a fresh 52-week high on Monday, Apple (NASDAQ:AAPL) continues to charge higher today. Apple looks to expand the iPad 2 consumer base by selling iPad 2 tablets with 3G cellular-network functionality in China (NYSE:FXI). Currently, China only has the Wi-Fi wireless option for the iPad 2.
Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.
Office Depot (NYSE:ODP) is making a move into the electronic age by offer the Kindle. The Kindle is the single bestselling product in the history of Amazon (NASDAQ:AMZN). Farla Efros, Interim Head of Merchandising said, “We are thrilled to bring Office Depot customers this lightweight, portable, easy to ready device that allows them to get all the books and news they want, when and where they want them.”
Molycorp (NYSE:MCP) shares are falling sharply after receiving a downgrade from JP Morgan (NYSE:JPM). The bank downgraded Molycorp from overweight to neutral. Furthermore, shares received a huge cut on its target price from $105 to $66. Molycorp is the only producer of rare earth oxides in the Western hemisphere. CEO, Mark Smith, has an appointment with Congress tomorrow to testify on the subect of global rare earth supply concerns and efforts to diversify the nations’ sources of these materials.
Software giant Oracle (NASDAQ:ORCL) will be in play today as investors await the company’s earning release after the closing bell. The average estimate of analysts is for profit of 44 cents per share, a rise of 12.8% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Shares jumped nearly 1% at the opening bell. Oracle also competes with tech giant IBM (NYSE:IBM), which announced it will make it easier for competitors to provide maintenance services for its mainframe systems.
Don’t Miss: Oracle Corp Quarter Earnings Sneak Peek.