Here’s a quick rundown of Tuesday’s after-hours action: Nike (NKE) hit new all-time highs in extended trading after the athletic shoe and apparel giant reported a 22% rise in earnings that beat expectations, boosted by gross margin expansion, a lower effective tax rate and lower share count. Nike also reported strong future orders. Revenue rose 4% but slightly missed views. Apple (AAPL) has updated its bylaws to let investors who hold at least 3%
In recent weeks, Wall Street analysts have cut their iPhone sales targets for the March quarter on signs of slowing production in Asia. Now those concerns are bleeding into the June quarter. Cowen analyst Timothy Arcuri on Tuesday cut his price target on Apple (AAPL) stock to 130 from 135 on a weaker outlook for the iPhone maker. He rates the stock as market perform. Apple stock was flat, near 107, in afternoon trading on the stock market today.
Comcast (CMCSA) has a good chance to add net video subscribers in 2016 for the first time since 2006, especially with Apple (AAPL) out of the Web TV picture, says a bullish Morgan Stanley research report. Benjamin Swinburne, a Morgan Stanley analyst, calls Comcast his top large-cap telecom pick for 2016. He set a price target of 70 on Comcast stock. A threat from Apple has subsided, says the Morgan Stanley analyst, while the superfast broadband