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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

14/04/05

Permalink 05:05:47 pm, Categories: New York NYSE, 180 words  

Apple results disappoint high expectations

Shares in Apple Computers fell 1 percent in after hours trading on Wednesday.

The decrease in share value despite this good news was caused by investor disappointment at news that current-quarter revenues would not meet the highest estimates of Wall Street.

Reports were that Apple expects current-quarter revenues of $3.25 billion and earnings of approximately 28 cents per share.

Wall Street forecasts were for sales of $3.2 billion and a profit of 24 cents per share.

Some analysts had expected even higher performance, however.

There was also a concern that with Apple’s introduction of low-end products, average selling prices will fall.

This decline in Apple stocks came despite the fact that Apple earlier reported that it had experienced a more than six-fold earnings increase on the strength of the company’s success with its iPod music player.

Apple sold 5.3 million iPods and 1.07 million computers last quarter. That was a 558 percent increase in iPod sales, on the strength of the release of the iPod Shuffle, and a 43 percent increase in computer sales due to the introduction of the low-cost Mac mini computer in the quarter.

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