Radar Stocks: Rough Day for Groupon and Disney, Apple Rebounds
Shares of JPMorgan Chase (NYSE:JPM) attracted attention in late afternoon hours. Jamie Dimon, chief executive officer, said in an interview with CNBC that the economy can boom if America’s long-term fiscal problems are fixed.
Groupon (NASDAQ:GRPN) shares crashed nearly 30 percent on Friday. The Chicago-based company posted a net loss of $2.98 million (0 cents per share) for the third quarter, which includes stock-based compensation and acquisition-related expenses of $25.1 million. The net loss was better than last year’s $54.2 million debacle, but analysts were expecting positive earnings of 3 cents per share. Shares rebounded slightly in late trading.
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Shares of Apple (NASDAQ:AAPL) jumped 1.73 percent to finish the week on a positive note. Piper Jaffray’s Gene Munster wrote in a research report that checks with several Apple Stores as well as at Verizon (NYSE:VZ) and AT&T (NYSE:T) had led him to believe that supplies of the iPhone 5 were back up. He also reiterated his projection of total iPhone sales of 45 million in the quarter.
Walt Disney (NYSE:DIS) shares fell sharply and logged the biggest loss in the Dow Jones Industrial Average on Friday. The entertainment company reported fiscal fourth quarter sales that missed analysts’ estimates. Shares finished almost 6 percent in the red, but stabilized in late afternoon trading.
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