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Buzz Stocks: Apple Inc. (AAPL), Sprint Nextel Corporation, Lululemon Athletica, and Texas Instruments

Today's stocks to watch in the news include AAPL, S, LULU, and TXN

by 6/11/2013 9:07 AM
Stocks quoted in this article:

Overseas developments are weighing on U.S. stocks this morning, and the Dow is poised for a triple-digit drop out of the gate. Turning to stock news, here are some companies to watch today:

  • During Apple Inc.'s (NASDAQ:AAPL) Worldwide Developers Conference opening keynote address, CEO Timothy D. Cook and other company officials unveiled the details of the next version of the iOS mobile operating system, which will include a feature called Activation Lock, meant to deter people from stealing the phones. The speakers also spoke of a new streaming radio service and updated versions of Apple's mapping service, app store, and more. (The New York Times)

  • In an effort to edge out DISH Network Corp's (NASDAQ:DISH) rival proposal, SoftBank Corp. raised its bid to acquire Sprint Nextel Corporation (NYSE:S) by 7.5%. The latest offer is now valued at $21.6 billion, including $16.6 billion in payments to current Sprint shareholders. If accepted, it would give the Japanese telecomm unit a 78% stake in North America's third-largest wireless carrier. (Bloomberg)

  • Lululemon Athletica inc. (NASDAQ:LULU) CEO Christine Day is resigning in the wake of a scandal involving see-through yoga pants. Nevertheless, the executive guided LULU to an earnings beat, as the company earned $47.3 million, or 32 cents per share (excluding items), with total revenue rising 21% year-over-year to $345.8 million. Analysts had anticipated earnings of 30 cents per share (excluding items) on $341 million in revenue. (CNBC)

  • Texas Instruments Incorporated (NASDAQ:TXN) predicts a second-quarter profit of 39 to 43 cents per share, and revenue of $2.99 billion to $3.11 billion. The slightly lower-than-expected results are due to slowing demand for semiconductors used in personal computers and consumer devices, though demand for analog chips used in industrial machinery and vehicles continues to grow. (Bloomberg Businessweek)

  • Dole Food Company, Inc. (NYSE:DOLE) is fielding a buyout offer from a very familiar name -- CEO David Murdock, who already owns 39.5% of the company. Murdock and his family are proposing to acquire the remainder of the business at a price of $12 per share, which is nearly an 18% premium to the stock's Monday closing price of $10.20. As a result, the shares have soared in pre-market trading today, up 24% to $12.65 at last check. (The Washington Post)

  • The Boeing Company (NYSE:BA) raised its 20-year airplane demand forecast by 3.8% this morning, predicting that over the next two decades, the world will need 35,280 new planes. The optimistic projection is based upon increased travel throughout the Asia-Pacific region, led by discount carriers such as AirAsia and Lion Air. According to Boeing vice president for marketing Randy Tinseth, travel to Asia will rise from roughly 37% of all flights, to nearly 50% by 2032. (Reuters)

  • United Airlines, owned by United Continental Holdings Inc (NYSE:UAL), announced on Monday that its consolidated traffic declined 0.8% to 17.9 billion revenue passenger miles, and its capacity fell 1.7% to 21.2 billion available seat miles in May. As a result, the airline's load factor, or percentage of seats filled, increased 0.8 percentage point to 84.4%. (NASDAQ)

  • Finally, Tim Tebow will reportedly resurrect his football career with the New England Patriots, after being released from the New York Jets six weeks ago, according to ESPN, Inc.. Though Tebow is expected join the team at minicamp today, the Patriots have not yet confirmed the signing. (The New York Times)

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