Market Overview

Market Update: Wednesday's Mid-Day Movers: U.S., Asian Markets Slow; Apple, Microsoft, Chipotle, IBM And More

Market Update: Wednesday's Mid-Day Movers: U.S., Asian Markets Slow; Apple, Microsoft, Chipotle, IBM And More

Earnings week is heating up the markets; just yesterday, Apple reported positive earnings, but yet, the stock is plummeting. U.S. stocks in general are being pushed down with the most valuable company in the world – Apple Inc. (NASDAQ: AAPL). The tech giant reported earnings 38 percent higher than last years, with a 35 percent increase in iPhone sales; China sales of the iPhone more than doubled.

Although iPhone sales were 35 percent better than last year, the number just did not meet Wall Street’s high expectations, and shares declined nearly 5 percent in early trading Wednesday. Shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) soared after releasing better-than-expected earnings and sales.

Related Link: Microsoft Q4 Earnings Top Views

Moving along, U.S. oil futures slipped below $50 due to a rise in crude oil stockpiles; U.S. crude inventories rose by 2.5 million barrels. Asian shares are falling again after recent gains; U.S. heavyweight technology companies – particularly Apple, International Business Machines Corp. (NYSE: IBM) and Microsoft Corporation (NASDAQ: MSFT) – reported disappointing earnings and frightened the Asian markets. Gold falls yet again on London’s spot market as investors continue to fear a hike in rates.

Despite fears in the market, stocks continue to move:


  • Solar3D Inc (NASDAQ: SLTD) skyrocketed 34 percent after the solar power solutions provider announced preliminary earnings for Q2; the company is said to report sales of ~$11 million, a 95 percent increase over last quarter’s sales.
  • Lipocine Inc (NASDAQ: LPCN) soared 18 percent after the pharmaceuticals company was initiated with a Buy rating by Roth Capital.
  • Baozun Inc (ADR) (NASDAQ: BZUN) was up 12 percent after the holding company signed a cooperation agreement with Cainiao, Alibaba Group Holding Ltd (NYSE: BABA)'s logistics arm.
  • Intuitive Surgical, Inc. (NASDAQ: ISRG) was up 11 percent after the company reported better than expected earnings; it reported earnings of $4.57 earnings per diluted share on sales of $586 million.
  • Fibrocell Science Inc (NASDAQ: FCSC) was heightened 7 percent as the autologous cell therapy company priced 2.6 million shares of common stock at the price of $5.80 per share.
  • Related Link: Apple Live Blog: Q3 Earnings Conference Call


  • XOMA Corp (NASDAQ: XOMA) sunk 73 percent after the biotechnology company had its eye drug fail in a late-stage study.
  • Angie’s List Inc (NASDAQ: ANGI) dropped 21 percent after the business reviews specialist reported mixed earnings; gross paid membership additions dropped 27 percent.
  • Caesars Entertainment Corp (NASDAQ: CZR) dwindled 20 percent as the Las Vegas-based casino operator tries to avoid bankruptcy, according to the Wall Street Journal.
  • Cliffs Natural Resources Inc (NYSE: CLF) shot down 16 percent, a 12-year low, after BHP Billiton Limited (ADR) (NYSE: BHP) reported that iron-ore production would increase in FY2016.
  • B/E Aerospace Inc (NASDAQ: BEAV) was down 12 percent after the aircraft manufacturer missed Wall Street Q2 forecasts; the company reported earnings of 75 cents per share versus projected 76 cents, had revenues of $700.6 million versus expected $704.56 million.
  • Image Credit: Public Domain

    Latest Ratings for AAPL

    Nov 2019DowngradesHoldSell
    Nov 2019Initiates Coverage OnOutperform
    Oct 2019MaintainsOutperform

    View More Analyst Ratings for AAPL
    View the Latest Analyst Ratings

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    Related Articles (AAPL + ANGI)

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