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MARKET GLANCE (Jan. 24) – Apple Falls 12 Pct, Netflix Rises 42 Pct, Nokia Down in Pre-Market – AAPL, NFLX, NOK, BA, BBY

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YesOption

DESPITE a miserable performance by Apple Inc (AAPL) on the stock market, blue chips keep their momentum, and the DJIA is poised to go a little higher prior to the open.

Let’s take a quick look at Apple and other tech giants to spice up your day:

AAPL

AAPL is the main subject for today, as its shares fell 12 percent and perhaps pull the whole tech sector in the cellar with it.

The iPhone 5 maker last night bared its Q1 net income of $13.80/share, falling $0.06 from the previous year.

Apple’s revenue climbed 18 percent to $54.52 billion; results were rather mixed in terms of estimates by analysts, who had called for a per-share earning of $13.46 on $54.72 billion in revenue.

netflixtvNFLX

Netflix Inc made quite an impression with a surprisingly solid quarter that alleviated near-term worries regarding the firm’s costly expansion as well as its television and movie bill, sending its stocks rising 42 percent.

It’s the biggest one-day increase from Netflix, although the company’s shares were still trading at just below 50 percent of its record of over $300 in July last year, when the firm was feted on Wall Street for launching a video service that shook the Hollywood and the media landscape.

A host of industry analysts upgraded NFLX shares or elevated their price targets after the firm announced strong customer growth and better-than-expected quarterly sales around the globe, Thursday.

Netflix shares Thursday soared $43.61 to $146.87 on NASDAQ, its highest since October 2011.

nokiaNOK

Nokia Corp (NYSE:NOK) is slightly below in pre-market developments after the firm’s own turn at the earnings department.

The Finland-based telecommunications firm gained more than 200 millon euros in the fourth quarter, a huge rise compared to a year ago loss of 1.06 billion euros.

However, total sales came in under its year-earlier results and analyst expectations. Nokia likewise bared that the company would stop its dividend payments for the first time in over 20 years.

787BA

The Dreamliner issue may not be affecting business opportunities for Boeing Company (NYSE: BA), but rival Delta Air Lines, Inc (NYSE: DAL) is said to be in negotiations with both Airbus and Boeing to acquire $1 billion in new aircraft.

The airline is hoping to buy current models at a reasonable price, later on adding 25 to 30 aircraft to its current fleet.

best buyBBY

Struggling electronics retailer Best Buy Co., Inc. (NYSE:BBY) is looking at hitting a new demographic on Sunday’s Super Bowl by hiring the services of comic actress Amy Poehler in a thirty-second commercial.

Company officials hope the current Parks and Recreation star and SNL veteran will turn things around in a campaign that shows just how technology can be “simple.”

About Chris Miranda

Chris writes mostly about the latest in the stock market, finance, tech and business.
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