Midday movers: Netflix, PepsiCo, RadioShack

Stocks are mixed as Apple earnings weigh on the Nasdaq but improved outlooks from Boeing and Caterpillar support the Dow.

By MSN Money Partner Jul 25, 2012 1:12PM
Information provided by TheFlyonthewall.com fly

The tech sector was the worst performer in the S&P 500, under the weight of Apple's (AAPL) earnings miss and nearly 5% share price slide. However, the strong performances of Riverbed (RVBD), up 25%, and Juniper (JNPR), up 13%, were bright spots as the two announced a technology partnership and both reported results that beat expectations on both the top and bottom lines.

Among Dow components, Boeing (BA) and Caterpillar (CAT) turned in better-than-expected quarters and raised their full-year earnings guidance, giving a lift to their stocks and buoying the index.

Among other large caps reporting earnings, PepsiCo (PEP), Broadcom (BRCM), Edwards Lifesciences (EW), Eli Lilly (LLY), ACE Limited (ACE) and Thermo Fisher (TMO) advanced, while Aflac (AFL), ConocoPhillips (COP), Corning (GLW), Lorillard (LO) and WellPoint (WLP) declined.

Among the notable gainers were InvenSense (INVN), up 29%, after Goldman Sachs recommended buying shares aggressively following its quarterly report and guidance, and Ancestry.com (ACOM), up 14%, following a New York Times report last night that said the company is nearing a sale to take itself private with talks centered on a $35 to $39 per share buyout price. Among the noteworthy losers were RadioShack (RSH), down 29%, as the company said business performed below expectations during Q2 and it suspended its dividend, and Netflix (NFLX), down 24%, following at least three downgrades after the company's Q2 results were better than expected but it warned it expects a loss in Q4 due to its next international market launch.

1Comment
Jul 25, 2012 1:32PM
avatar
The CEO of CAT just made the comment that he felt things were improving to help bolster his company's stock price.  CAT has a significant part of their annual revenue outside of USA so when Europe and Asia slows down, so does CAT but he doesn't want to acknowledge that.  Funny...how a few weeks ago the analysts all stated that heavy equipment manufacturers would suffer as the world economies slow down growth.  I guess the CAT CEO doesn't want to acknowledge the truth...
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