Diamonds and Dogs
11/24/13Apple Inc. (AAPL)
The Apple is rotten today, down 12.36% at $450.46. The tech giant saw its shares short circuit today after an earnings report was released. For the company's first-quarter, profit rose less than 1% to $13.1 billion, or $13.81 a share. Furthermore, sales climbed 18% to $54.5 billion, compared with 73% growth in the same period a year ago. Investors are worried about how quickly sales growth has fallen, and also wonder if Apple can continue to release new innovative products to ignite future growth. Apple shares dropped $63.55 today, pushing shares to levels not seen since a year ago. The company has dropped nearly 27% (from its 52-week high of 702.10) since September.
Netflix Inc. (NFLX)
Netflix is bouncing back in a big way today, up 42.22% at $146.86. The online video streaming company saw its shares skyrocket after impressive earnings. Instead of the $0.13 per share loss analysts had expected, the video streamer delivered a $0.13 per share profit. The company's profit can be attributed to adding 2 million streaming subscribers in the U.S. and another 1.8 million abroad. Furthermore, revenue for the quarter increased 8%. Netflix fell over 65% from its high ($298.00) in July 2011 to yesterday's price. However, the company is rallying today, setting a new 52-week high and surprising many investors.