Shares of Cupertino, California-based Apple Inc. (AAPL) declined to $120.57 in the previous session in New York and have fallen nearly 1.82% in pre-market trading Tuesday, following a cautious Credit Suisse (CS) report that said the firm’s checks indicate that supply chain orders for the iPhone have weakened recently. Credit Suisse is cutting forecasts for Q1/16, noting “the continued weak supply chain news could weigh on Apple shares for the next few weeks/quarters”.
Shares in the $672.22 billion market cap company are up 12.49% year-over-year and off about 10.38% from their April 28, 2015, $134.54 52-week high.
Shares of Ocata Therapeutics, Inc. (OCAT) are spiking up by more than 87 percent on Tuesday after the company announced it is being acquired by biotechnology firm Astellas Pharma Inc for $8.50 per share.
Canadian Solar Inc. (CSIQ) shares are up 9.34% to $25.18 in early trading Tuesday in reaction to better than expected Q3 results and above-consensus guidance. The manufacturer of solar wafers handed in earnings of $0.53 per share on revenue of $849.8 million, beating Wall Street estimates of $0.29 per share on revenue of $811.26 million. Looking ahead, the company guided Q4 revenues of $930-$980 million, as compared to analysts’ expectations of $806.27 million.
Synchrony Financial (SYF) — Synchrony will replace Genworth Financial, Inc. (GNW) in the S&P 500 after the close of trading on Nov. 17.
In the past 52 weeks, shares of Stamford, Connecticut-based firm have traded between a low of $27.92 and a high of $36.40.
Shares are up 9.31% since the beginning of the year.
Shares of Sophiris Bio, Inc. (SPHS) are skyrocketing by 333.73% to $3.64 on heavy volume at the start of trading on Tuesday morning following the company’s announcement that its Phase 3 LUS-1 study of PRX302 as a treatment for lower urinary tract symptoms of benign prostatic hyperplasia met its primary endpoint.