First up is Apple (AAPL), which is currently down fractionally. This will be day-two of Apple's annual developer's conference. Yesterday, as expected the company unveiled a new iOS for mobile devices, as well as a streaming music service. By the way our poll question yesterday was, which would be more important for Apple? People seemed pretty evenly divided with the streaming service winning out by just 1-point. As for Apple's performance during previous conferences, our partners at CNBC crunched the numbers and found shares dropped in each of the past 5-years. In fact they fell more than 5% three times.
Next is Facebook (FB). It was up 4.5% yesterday. Speculation began to swirl yesterday that the social network may soon be added to the S&P 500. The company has also been receiving upgrades like ones from analysts at Stifel and Topeka Capital. J-P Morgan also reiterated that it has Facebook as an overweight. Even with yesterday's rise, Facebook shares are down 13% year-to-date. They're more that 36% off their IPO price some 13-months ago.
Now we look at Diamond Foods (DMND), which has been up more than 3% in early trading here on the NASDAQ. That's on top of an 8% climb yesterday. The company surprised traders with its quarterly results, posting earnings of 5-cents a share when estimates were for losses of 17-cents a share. But it also restated results from the prior quarter, turning a profit of 43-cents a share into a loss of 37-cents. Trading of the stock actually had to be halted for a short time, as the company also announced it is replace CEO Michael Murphy with Raymond Silcock. Diamond also lowered its outlook for the coming quarter.
Finally Corinthian Colleges (COCO) which has been trading more than 15% lower this morning here on the NASDAQ. Corinthian specializes in short-term diploma programs. It's a for-profit college chain. Word surfaced last night that on June 6th it was subpoenaed by the SEC. This is part of an investigation into student information, recruitment and attendance. Trading of shares actually had to be halted temporarily after the news broke. Shares of Corinthian have been in a recent rise, up 36% over the past month until now.
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