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Tiffany shines bright; Michaels jumps on strong sales; Smith & Wesson shares take a hit

Hot Stock Minute

Here are some stocks the Yahoo Finance team will be watching for you today.

Tiffany (TIF) shares are shining bright in early trading. The high-end jewelry retailer raised its earnings outlook for the year after reporting results that blew past estimates. Profits jumped 16% in the second quarter and revenue rose 7% from a year earlier thanks to strong growth in the Americas and Asia-Pacific regions.

Michaels (MIK) shares soared in the pre-market. The arts-and-crafts retailers' earnings guidance for the full- year was better than analysts' estimates. The company also reported better-than-expected earnings and revenue. Sales rose nearly 5% from a year ago as sales growth at existing locations rose 3.2%, reversing a decline from a year earlier.

Smith & Wesson (SWHC) fell before the bell. The firearms manufacturer cut its sales and earnings outlook for the year amid weaker demand and higher inventories. The company also reported revenue fell short of analysts' estimates last quarter due declining sales for sporting rifles. Earnings topped expectations by a penny, but profits fell 45% from a year ago.  

TubeMogul (TUBE) shares soared in the pre-market after the online video advertising firm delivered a surprise profit. Analysts' expected a loss of $0.15 a share. Revenue more than doubled from a year ago. The company's earnings guidance for the current quarter and the full year was also higher than analysts' estimates.

Apple  (AAPL) shares tradied near record highs in early trading. The company split its shares back in June, and made headlines earlier this month when it cracked $100 for the first time. It’s not showing any signs of stopping. One reason is speculation about new products in the pipeline. We’ve been hearing about a larger-screen iPhone 6 expected next month, and reports today say there could also be a bigger-screened iPad in the pipeline with a 12.9-inch display versus the current 9.7 and 7.9-inch screens. Production is scheduled to begin in the first quarter of next year.