Radar Movers: BlackBerry Plunges Nearly 20%, Apple iPhones Going for $1,000
Shares of Goodyear Tire & Rubber (NYSE:GT) closed the day flat, despite announcing plans to restore its dividend. The company last paid a dividend in December 2002. “Our capital allocation plan demonstrates Goodyear’s commitment to creating value for shareholders while maintaining financial flexibility to execute our strategic plan, continuing to strengthen our balance sheet and investing for future growth,” said chairman and chief executive officer Richard J. Kramer.
Netflix (NASDAQ:NFLX) shares jumped nearly 3 percent on Friday and continued to edge higher in late afternoon hours. The second-quarter report from Netflix headquarters was encouraging in terms of subscriber additions domestically and around the globe. The latest news from Canada says momentum north of the U.S. border is even more powerful. The Globe and Mail reports Netflix is steadily growing in Canada, with possibly 25 percent of all English-speaking Canadians subscribing.
Shares of Ford Motor (NYSE:F) declined 1.5 percent on Friday and continued to fall in late afternoon trading. Ford will be halting its production in Romania by 13 days in October as soft European demand forces the company to make the needed production adjustments. Ford already took a one week break at the facility this month. It produces the B-Max model at the Romanian site and pushes about 370 cars through per day. Ford has around 2,500 employees that will receive 80 percent pay during stoppage.
BlackBerry (NASDAQ:BBRY) shares plunged 17 percent on Friday and dropped another 2.8 percent in late afternoon trading. BlackBerry apparently wanted to brace the markets for the preliminary release of its fiscal second-quarter financial results, which missed analyst expectations. According to the preliminary report (real earnings will be reported September 27), revenues are expected to come in at $1.6 billion, well below the average analyst estimate of $3.06 billion. BlackBerry reported that approximately 5.9 million smartphones were sold through to end users, and that it will recognize revenues on about 3.7 million devices. BlackBerry is also cutting around 4,500 jobs.
Shares of Apple (NASDAQ:AAPL) declined 1 percent on Friday, despite large crowds appearing at stores to purchase the new iPhone 5S. Apple released the new smartphone in 10 countries, including Australia, Japan, the U.K., the U.S., and China. Apple’s U.S. online store is now pointing to a wait of 7-10 business days for shipping, on space gray and silver 5S models. Gold colored models won’t ship until some point in October. In fact, some people are paying over $1,000 on eBay (NASDAQ:EBAY) for Apple’s gold model.
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