7 Late Movers: Microsoft Falls 1.3%, Urban Outfitters Plummets 15% and Kodak Sues Apple
Shares of Microsoft Corp. (NASDAQ:MSFT) are down more than 1.3 percent after saying PC sales will be worse-than-expected, due to Thailand flooding. Shares of Hewlett Packard Co. (NYSE:HPQ) and Apple Inc. (NASDAQ:AAPL) are also trading lower in late trading.
Urban Outfitters Inc. (NASDAQ:URBN) shares are plummeting more than 15 percent after the closing bell. In order to pursue other opportunities, Glen Senk, the company’s Chief Executive announced he would be leaving immediately.
Don’t Miss: Eastman Kodak’s New Business: Suing for Dollars.
After closing 4.25 percent higher on Tuesday, shares of Crocs Inc. (NASDAQ:CROX) continue to gain another 6.14 percent in extended trading. The company announced that fourth-quarter revenue will be in its high end of $200 million to $205 million forecast. Annual revenue is poised to surpass $1 billion for the first time. Nike Inc. (NYSE:NKE) is also trading slightly higher in late trading.
In late trading, shares of Eastman Kodak Co. (NYSE:EK) jumped 1.6 percent. EK said it is suing Apple and HTC Corp. According to EK, infringement of certain patents related to digital imaging technology was made. Kodak claims Apple’s iPhones, iPads, and iPods, and some of HTC’s smartphones and tablets use Kodak patents for transmitting images, and therefore EK is seeking to prevent further patent infringement from Apple and HTC. It will seek compensation as well.
To contact the reporter on this story: Eric McWhinnie at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com