Radar Movers: Apple Underwhelms With New iPhones, Dow Gets Makeover
Shares of Texas Instruments (NYSE:TXN) dropped 1 percent in late afternoon hours. The company lowered its third-quarter outlook on earnings and revenue. It now expects to earn 51 cents to 55 cents per share, down from 49 cents to 57 cents. Meanwhile, revenue is projected to come in the range of $3.15 billion to $3.29 billion, compared to the previous range of $3.09 billion to $3.35 billion.
Goldman Sachs (NYSE:GS) shares jumped 3.5 percent on Tuesday. The investment company is being added to the Dow Jones Industrial Average (NYSEARCA:DIA), along with Nike (NYSE:NKE) and Visa (NYSE:V). On the other side of the trade, Bank of America (NYSE:BAC), Hewlett-Packard (NYSE:HPQ), and Alcoa (NYSE:AA) will be leaving the blue-chip index.
Shares of Intel (NASDAQ:INTC) edged slightly higher on Tuesday and continue to rise in late afternoon hours. According to Bloomberg, Intel is rolling out a new line of extremely small and low-power microchips that will be designed for wearable devices like smart watches and bracelets. New CEO Brian Krzanich and his team recognize wearable computing devices as a growth opportunity for the company and thus noted the new line of chips in his speech at the company’s annual developer conference in San Francisco on Tuesday.
Apple (NASDAQ:AAPL) shares fell 2.3 percent on Tuesday and continued to trade lower in late afternoon hours. Investors did not appear impressed with the tech giant’s latest products. At a special event in California, Apple unveiled the iPhone 5C and iPhone 5S. The former is a “unapologetically plastic” $99 phone (two-year contract required) that comes in five colors, while the latter is the gold standard in the iPhone lineup. The iPhone 5S comes with an improved camera and a fingerprint sensor built directly into the home button.
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