Radar Movers: Apple and CBS Climb Higher, eBay Reports Q4 Earnings
Apple (NASDAQ:AAPL) received support today as shares jumped more than 4 percent and continue to edge higher in late afternoon trading. KGI Securities analyst Ming-Chi Kuo predicts two new versions of the iPhone this year in addition to an upgraded iPad mini with Retina display and the fifth-generation full-size iPad. Kuo also expects Apple to retire the non-Retina MacBook Pro line and lower the price of the high-definition display versions of its notebooks.
Herbalife (NYSE:HLF) shares continue to attract attention. Activist investor Carl Icahn is reportedly telling other investors that he has taken a position in the nutritional weight-management company. Herbalife closed 2.5 percent lower on Wednesday, but climbed slightly higher in late afternoon hours.
Shares of eBay (NASDAQ:EBAY) jumped 1.5 percent after reporting financial results for the fourth quarter. Excluding items, earnings per share came in at 70 cents per share, compared to 60 cents per share a year earlier. Revenue also increased to $3.99 billion, compared to $3.38 billion the prior year. “We had a great finish to an excellent year, with fourth quarter results exceeding our expectations,” said John Donahoe, eBay President and CEO. “eBay Marketplaces in particular had a terrific fourth quarter, with growth in the U.S. accelerating three points, outpacing e-commerce.” Amazon.com (NASDAQ:AMZN) also traded higher in late trading.
CBS (NYSE:CBS) shares surged more than 8 percent in late afternoon hours. The media company said it plans to turn its domestic billboard-advertising business into a real estate investment trust. Leslie Moonves, chief executive officer, explains, “We believe the moves we are announcing today will unlock the tremendous value of these unique quality assets.”
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