Apple Inc. Shares Rise After Galaxy Launch - Futures Indicate Lower Open as
the Market Takes Back Some of its Gains
NEW YORK, March 18, 2013
NEW YORK, March 18, 2013 /PRNewswire/ --
Apple shares hit an unusual high of $444.23 in intra-day trading on Friday;
the highest point the stock has reached in two weeks. On Thursday, Apple's
chief competitor, Samsung Electronics Co., launched its new top-of-the-line
smartphone model - the Galaxy S IV. Shares of Apple closed up 2.58% at
$443.66 on Friday.
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Team, Inc. (NYSE: TISI) - Team, Inc. was one of the biggest decliners on the
NYSE on Friday. The stock fell more than 19% at the close. The big drop came
after the Company cut its FY13 outlook. The Company announced that it is
lowering its earnings guidance for its fiscal year ending May 31, 2013 to a
range of $1.70 to $1.85 per fully diluted share. Team, Inc. provides specialty
maintenance and construction services for maintaining high temperature and
high pressure piping systems and vessels that are primarily utilized in heavy
industries. The stock closed at $37.45 on Friday.
Ulta Salon, Cosmetics & Fragrance, Inc. (Nasdaq: ULTA) - ULTA shares sank to a
new 52-week low of $72.51 on Friday. At the close shares were down 16.10%
closing at $74.14. The big drop came after the Company revealed a weak
first-quarter outlook late Thursday. On Thursday shares fell 11% in
after-hours trading. Ulta forecasted a Q1 EPS of 60-63 cents, well below
analyst estimates of 72 cents. Ulta sees Q1 sales of $568 million to $577
million, below forecasts for $579.7 million. Oppenheimer downgraded its rating
on Ulta from "outperform" to "perform".
Ambow Education Holding Ltd. (NYSE: AMBO) - Ambow Education Holding Ltd. was
one of the biggest advancers on the NYSE on Friday. The stock closed up 53.47%
at $1.55 on trading volume, nearly fifteen times higher than the stock's
average. Before the sudden advance, shares hit a new 52-week low of $0.95 in
intra-day trading. The stock surged on a rumored buyout offer. Ambow provides
educational and career enhancement services in the People's Republic of China.
Suntech Power Holdings Co. Ltd. (NYSE: STP) - Shares of STP saw unusual gains
on Friday, hitting as high as $0.87 in intra-day trading. Friday was the
deadline for Suntech to make a $541 million payment to bondholder Trondheim
Capital Partners LP. Trondheim Capital Partners said it would sue the Chinese
solar panel maker if it failed to make the principal payment on $541 million
of bonds. Suntech said on Thursday that it would continue to work with its
lenders on restructuring the debt, but had no plans to make payments. STP
closed up 4.48% on Friday.
Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) - Progenics Pharmaceuticals was
one of the biggest gainers on the Nasdaq composite on Friday. Shares closed up
28.99% on Friday and hit as high as $4.94 in intra-day trading. The Company
beat Wall Street's expectations and also beat the revenue expectation. Revenue
rose 303.64% to $8.88 million from the year-earlier quarter. The Company
reported adjusted EPS loss of $0.01 per share, beating the mean analyst
estimate of $-0.31. It beat the average revenue estimate of $1.16 million.
Trading volume on Friday at a little over 4 million shares was roughly sixteen
times higher than the stock's average. The Company engages in research and
development of biotechnology product candidates in the areas of oncology,
virology, supportive care, and gastroenterology worldwide.
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