Apple’s iPad Mini Retina Goes Live, Sotheby’s Strong Quarter, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): Three weeks after its introduction, the iPad mini with Retina display has hit store shelves, at least virtually, as it’s now available for purchase through Apple’s website. The 16GB and 32GB Wi-Fi-only models are displayed with shipping times of one to three business days, while the other models are looking more toward five to 10 business days. The prices start at $399 for the 16GB model, $499 for the 32GB model, $599 for the 64GB model, and $699 for the 128GB model.
Sotheby’s (NYSE:BID): Sotheby’s shares are up as it reports earnings per share of -44 cents, beating by 3 cents, as revenue of $107.86 million placed well above the $68.46 million seen last year; auction revenue expanded 28.8 percent to $76.9 million. Dealer revenue also surged to 23.5 percent — to make 30.5 percent of revenue — up from just 3 percent during the third quarter of last year. Asian operations saw healthy growth, as did the Impressionist and Modern Art NY show sales.
Walt Disney Co. (NYSE:DIS): Disney says that it plans to combine the games and media groups within its Interactive operations to push for a more unified business strategy and has appointed Jimmy Pitaro the leading executive for the unit. This means that John Pleasants will be let go, though he will stay on board as a consultant for a few months. With both of their contracts nearing expiration, the transition point came at a “natural” time for CEO Bob Iger.
News Corp (NASDAQ:NWSA): Shares are trading lower as News Corp booked a 2.8 percent decline in first-quarter revenue, to $2.07 billion, below the analyst consensus of $2.18 billion. The news division — which features papers in the U.S., the U.K. and Australia – saw revenue fall 10 percent to $1.5 billion: Australia ‘s weak performance was attributable for most of the decline. Advertising fell 12 percent, as sales from circulation and subscription fell 6 percent.
Costco Wholesale Corp. (NASDAQ:COST): UBS has brought its rating on Costco to Neutral from Buy, based largely on valuation concerns. Costco’s stock trades with a forward price-earnings ratio higher than peers, even though the bulk retailer’s comparable store sales growth manages to consistently outpace the industry; the stock is up more than 25 percent on the year.
Don’t Miss: Here’s Why Apple Is Big in Japan.