Morning Buzzers: Apple Receives Positive iPhone 5 Reviews, Cracker Barrel Surges 7%
Apple (NASDAQ:AAPL) shares are down slightly this morning despite the iPhone 5 receiving generally positive reviews. Walt Mossberg from AllthingsD says, “Apple has taken an already great product and made it better, overall. Consumers who prefer huge screens or certain marginal features have plenty of other choices, but the iPhone 5 is an excellent choice.” Meanwhile, CNET says users will be “shocked at how light this phone is.”
General Mills (NYSE:GIS) shares are up around 1.5 percent this morning. The company reported that first quarter net income rose 35 percent to $548.9 million (82 cents per share), compared to $405.6 million (61 cents per share) a year earlier. Analysts were expecting around 62 cents per share. International sales increased 27 percent to $1.09 billion.
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AutoZone (NYSE:AZO) shares are up nearly 3 percent this morning. The company said its fourth quarter profit increased 7.4 percent to $323.7 million ($8.46 per share), compared to $301.5 million ($7.18 per share) a year earlier. However, sales in the quarter increased 4.6 percent to $2.76 billion, below estimates of $2.8 billion. Competitor O’Reilly Automotive (NASDAQ:ORLY) edged slightly higher on the news.
Shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) are up around 7 percent after the company reported its latest quarterly financial results. Net income came in at $34.7 million ($1.47 per share), compared to $17.5 million (75 cents per share) a year earlier. The company also approved a share repurchase program of $100 million.