6 Stocks Hitting Radars: Apple Sells 3M iPads, Amazon Spends $775M Cash and Disney Drops 1%
After closing above $600 per share for the first time ever, shares of Apple Inc. (NASDAQ:AAPL) edged .56 percent higher in late trading. The tech giant announced it sold 3 million new iPad units over the weekend. Apple also called it the “strongest iPad launch yet.”
Shares of Bank of America (NYSE:BAC) jumped almost 2 percent after the closing bell. The bank denied rumors about a new secondary offering. “Contrary to market rumors, Bank of America has no intention of issuing additional equity in a secondary offering,” a spokesman said in an emailed statement to media members.
Amazon Inc. (NASDAQ:AMZN) shares dropped 1 percent in extended trading after agreeing to purchase privately-held Kiva Systems for $775 million in cash. Kiva makes robotic technology for warehouse shelf and pallet systems.
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Walt Disney Co. (NYSE:DIS) shares declined 1 percent after saying it will take a $200 million write-down related to the movie bomb, John Carter. Analysts were expecting a $120 million to $160 million write-down.
Shares of Adobe Systems Inc. (NASDAQ:ADBE) fell more than 4 percent after announcing first quarter results. Net income for the company dropped 21 percent to $185.2 million (37 cents per share), compared to $234.6 million (46 cents per share) a year earlier.
Michael Kors Holdings Ltd (NYSE:KORS) jumped 3 percent late Monday. The company raised its fiscal 2012 outlook to 79 cents to 81 cents per share, above estimates of 67 cents per share.
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