Apple Shares Jump on Buyback Rumors: Winners & Losers
NEW YORK (TheStreet) -- Apple(AAPL) shares reversed earlier losses, gaining 1.2% to $463.20, on speculation the company is accelerating its stock-buyback program.
Twitter was aflurry with the rumor making rounds that Apple, which announced a buyback program in early 2012, would be speeding it up. In March 2012, Apple said it would spend $10 billion on a share-repurchase program and initiate a quarterly dividend of $2.65 per share. The Cupertino, Calif.-based company said it expects to spend $45 billion over the next three years.
Apple couldn't immediately be reached for comment for this story.
Excluding items, the San Francisco-based company earned 1 cent a share on $311.1 million in revenue. Analysts polled by Thomson Reuters were looking for a loss of 3 cents a share on $212.1 million in sales.
For the first quarter of 2013, Zynga said it expects to generate sales between $255 million and $265 million, losing between 4 cents and 2 cents a share.
3D Systems (DDD) shares rose 4.8% to $65.56 after the 3D-printing company said it would split its stock 3-for-2.
On Feb. 22, shareholders as of Feb. 15 will receive one additional share for every two they own. It will be paid in the form of a 50% dividend, and shareholders will receive cash in lieu of fractional shares. The stock will start trading on a split-adjusted basis Feb. 25.
"The stock split will increase the market liquidity and broaden our investor base. We are pleased by the confidence that our Board of Directors and shareholders have placed in our ability to provide superior returns and long-term value," CEO Avi Reichental said in a press release.
BlackBerry (BBRY) shares fell 1.1% to $15.85 on reports that initial sales of the BlackBerry Z10 aren't all they've been cracked up to be.