Apple Smacked, Stratasys Soars: Tech Winners & Losers
Citing people familiar with Apple's plans, Bloomberg reported the Apple-branded watch could arrive in 2013. According to the report, Apple has filed at least 79 patent applications which have the word wrist in it, including one for two-way communication of location data between a portable media device and an accessory. This patent allows media to be transferred between devices using GPS data with a separate accessory.
Apple remained in the spotlight, as Berkshire Hathaway (BRK.A) CEO Warren Buffett said the tech giant should ignore David Einhorn, and run the company for the long-term, as opposed to the short-term. Shares breached $425, a level which Doubleline Capital's Jeff Gundlach had previously said shares would return to after their parabolic run up late last year.
The maker of printing equipment posted non-GAAP earnings of 40 cents a share on $96.4 million in revenue. Analysts surveyed by Thomson Reuters were expecting earnings of 38 cents a share on revenue of $52.83 million.
Stratasys also issued full-year guidance for 2013 that was stronger than what Wall Street expects. The company said it expects revenue to be between $430 million and $445 million for the full year, earning between $1.80 and $1.95 a share on a non-GAAP basis. Analysts polled by Thomson Reuters are expecting $421.07 million in sales and $1.86 a share in earnings.
Palo Alto Networks (PANW) shares fell 5.48% to $55.34, continuing a second-day slide after the company reported second-quarter earnings and outlook on Friday.
For its fiscal second quarter, Palo Alto Networks earned 5 cents a share on $96.5 million, as revenue jumped 70% year over year. Analysts were expecting earnings of 4 cents a share on $93.3 million in sales.
The network security specialist said it expects to earn 5 cents a share, with sales between $100 million and $104 million. Wall Street consensus is earnings of 5 cents a share on $101.9 million.
--Written by Chris Ciaccia in New York
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