The introduction of Apple’s (AAPL) latest iPhones has been met with long lines and brisk sales, plus a higher share price. Apple stock has been up more than 1/5% this morning as the company’s newest devices hit stores. Shares were also up that much yesterday. It’s also worth mentioning that Carl Icahn who recently invested in the company called it quote "very undervalued" yesterday. But will these new products be enough to get Apple stock back where it was last year? Yahoo Finance Editor-in-Chief Aaron Task has more in the video above.
Add Home Depot (HD) to the list of companies cutting its health care coverage. The home improvement chain says it will soon drop benefits for more than 20,000 part-time employees. The workers will instead be directed to the health exchanges made available under the new health care law. Full-time workers will still be covered by Home Depot, however their payroll deductions will be going up. Home Depot stock is up 24% so far this year.
JPMorgan's (JPM) whale tale is far from over. The Wall Street Journal says the SEC is still pursuing civil charges against employees connected to the scandal. Just yesterday JPM agreed to pay $920-million in penalties for the trading debacle. The bank admitted wrongdoing in the SEC settlement. JPMorgan stock fell 1 1/4% yesterday, but is still up 18% this year.
Univision may be going public again. Reuters reports the Spanish language broadcaster has been talking with banks about an IPO. The company was taken private by a group of buyout firms in 2007 for more than $12-billion. Reuters says if Univision does decide to go public, it would likely happen in the second part of 2014.
STOCKS TO WATCH
Darden (DRI) reported an earnings miss in the past hour. The restaurant group made 53-cents a share when expectations were for 70-cents. Revenue was also slightly lower than the consensus of $2.2-billion. Profit numbers are down dramatically since last year, though revenue is up. Also of note, the company COO is retiring at the end of the current quarter. Prior to this morning, shares of Darden are up 9% year to date, largely on a climb since the start of September.
Uniform-seller Cintas (CTAS) is up more than 3% on its earnings. The company missed estimates by a nickel, posting profits of 63-cents a share. However it matched on revenues which were $1.12 billion. It also reaffirmed its guidance moving forward. Shares of Cintas are up 27% year-to-date and sitting at their highest level in about a decade.
Tesla (TSLA) is up fractionally this morning. The stock jumped another 7% yesterday to $177 after Deutchse Bank gave it a price target of $200 a share. The move puts the stock up more than 400% this year. The electric automaker has one of the most shorted stocks, and has proven to be quite volatile.
J.C. Penney (JCP) which fell another 2.3% yesterday. Dow Jones reports that Vornado Realty Trust is selling its entire stake in the company-- which comes to more than 13-million shares. Also, designer Allen Schwartz says he won't be renewing his deal with the retailer. J.C. Penney stock is now down 37% year-to-date.