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Stocks End Mixed On Apple (AAPL), Earnings; Dell (DELL) Surges

 January 14, 2013 04:11 PM
 


(By Balachander) U.S. stocks ended on a mixed note as Apple Inc. (AAPL) retreated amid reports it reduced orders for iPhone components and investors await earnings reports from major banks.

The S&P 500 Index shed 0.09 percent to end at 1,470.68. The Dow Jones Industrial Average added 0.14 percent to finish at 13,507.32. The Nasdaq Composite Index lost 0.26 percent to close at 3,117.50.

Investors also look ahead to a speech by Federal Reserve Chairman Ben Bernanke at 4.00 pm ET for any hints regarding future monetary policy.

U.S. earnings gathers steam with major banks such as Bank of America Corp. (BAC), JPMorgan Chase & Co. (JPM) and Citigroup (C) reporting their results this week. General Electric Co. (GE), Intel Corp. (INTC) and eBay Inc. (EBAY) are also due to post their quarterly numbers in the unfolding week.

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There were no major U.S. economic data released on Monday.

Hot Stocks Of The Day: AAPL, DELL, RIMM, CSCO, HPQ, FLO, STRZA, SPWR, HGG

In corporate news, Apple (NASDAQ: AAPL) retreated 3.57 percent. The technology behemoth is reportedly slashing orders for liquid-crystal display panels by around 50 percent due to weak demand for iPhone 5.

Dell Inc. (NASDAQ: DELL) surged 12.96 percent amid rumors that the PC maker is in discussions with private-equity firms over a potential buyout.

Research In Motion Ltd. (NASDAQ: RIMM) rallied 10.25 percent ahead of the launch of BlackBerry 10 devices later this month.

Cisco Systems Inc. (NASDAQ: CSCO) added 2.34 percent after R.W. Baird upgraded rating on the stock to "outperform" from "neutral".

Hewlett-Packard Co. (NYSE: HPQ) gained 4.89 percent after JPMorgan Chase upgraded the stock to "neutral" from "underweight".

Flowers Foods Inc. (NYSE: FLO) jumped 9.63 percent after the producer of bakery products signed agreements to acquire Hostess Brand Inc.'s bread business.

Starz Inc. (NASDAQ: STRZA) surged 10.07 percent on its first day of trading after the Premium-TV operator completed its splinoff from Liberty Media Corp.

SunPower Corp. (NASDAQ: SPWR) dropped 5.98 percent after shares of the solar products provider were downgraded to "sell" from "underperform" by Credit Agricole Securities. The company also expects higher restructuring charges related to its reorganization plan.

hhgregg Inc. (NYSE: HGG), a retailer of home appliances, cut its 2013 earnings and sales outlook citing industry wide declines in the video category. Shares tumbled 5.70 percent. 

Global Markets

European markets closed mixed, with Germany's DAX up 0.18 percent to close at 7,729.52. France's CAC40 added 0.06 percent to finish at 3,708.25. The U.K.'s FTSE 100 fell 0.22 percent to end at 6,107.86.

Among Asian markets, China's Shanghai Stock Exchange Composite Index surged 3.06 percent to close at 2,311.74. Hong Kong's Hang Seng Index added 0.64 percent to end at 23,413.26. India's BSE Sensex ended 1.23 percent higher at 19,906.41. Japan's Nikkei 225 was shut for a holiday. 

Commodity & Currency Scan

Crude oil futures added 0.62 percent to $94.14 per barrel and natural gas futures jumped 1.53 percent to $3.38 per million metric British thermal units. Gold futures gained 0.53 percent to $1,669.40 per ounce and silver futures climbed 2.34 percent to $31.12 per ounce.

In the currency market, the euro gained 0.31 percent against the U.S. dollar to 1.3385. The British pound lost 0.29 percent against the greenback to 1.6085, while the dollar advanced 0.33 percent against the Japanese yen to 89.4700.

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