Thursday, January 24, 2013
A sharp drop on Apple Inc. weighed down the Nasdaq in early trades Thursday, with the iPhone maker shedding nearly 11% early trades to fall to $457.92 – the lowest level for the stock since last February – following a disappointing earnings report and forecast. The Nasdaq Composite Index slid 0.8% while the Philadelphia Semiconductor shed 1.1%. Offsetting the steep losses at Apple was a major surge on Netflix , which jumped more than 40% to $144.69 at the open, giving a boost to other stocks in the Net sector such as Amazon , Facebook and eBay . Most tech stocks on the S&P 500 roster were making gains early Thursday morning.
Apple Inc. shares lost ground in premarket trading on Thursday, while shares of Netflix Inc. rose. Apple, Netflix and Research in Motion Ltd. were among the top tickers trending.
Netflix shares jumped 33% after the company posted strong fourth-quarter results, helped by growth in its U.S. video-streaming subscribers. Read: Netflix surges late as sales, subscribers rise
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