Apple Becomes Largest Company Ever. Apple has become the largest coming ever surpassing Microsoft value during the tech bubble. At the close yesterday Apple had a market value of over $625 billion. Some are now saving that the company has the potential to become the world’s first trillion dollar company. Apple has been able to dominate the market place with its invative products such as the iPhone and iPad. This has allowed the company to charge higher prices for its product translating into higher profit margins. The company is also set to roll out a slew of new product just in time for the Christmas holiday season; they include the new iPhone 5, and new iPad and iTV. The company’s current market value is over $200 billion more then the next closest company which is ExxonMobile (XOM). Shares are up 64% this year. Pre-market: 670.75 +5.60 (0.84%)
Netflix (NFLX): Caris & Company raised their rating from Below Average to Average. Pre-market: 64.95 +0.71 (1.11%)
Gap (GPS): Argus raised their rating from Hold to Buy and placed a target price of $42.00 on the company. Pre-market: 35.65 +0.31 (0.88%)
Knight Transportation (KNX): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $18.00 on the company.
Suntech Power (STP): Argus lowered their rating from Hold to Sell.
Edison (EIX): Argus lowered their rating from Buy to Hold.
Diamond Offshore Drilling (DO): Guggenheim lowered their rating from Buy to Neutral and placed a target price of $77.00 on the company. Pre-market: 68.29 -0.33 (-0.48%)
Fossil (FOSL): ISI Group lowered their rating from Buy to Hold. Pre-market: 87.00 -1.39 (-1.57%)
Corning (GLW): Stifel Nicolaus resumed coverage with a Buy rating and placed a target price of $48.00 on the company. Pre-market: 12.10 +0.11 (0.92%)
Urban Outfitters (URBN): Reported EPS of $0.42 beating estimates by +$0.09. Pre-market: 36.65 +5.37 (17.17%)
Barnes & Noble (BKS): Reported EPS of -$0.78 beating estimates by +$0.20. Pre-market: 12.75 +0.40 (3.24%)
Best Buy (BBY): Reported EPS of $0.20 missing estimates by -$0.11. Pre-market: 16.39 -1.77 (-9.75%)
GasLog (GLOG): Reported EPS of $0.04 beating estimates by +$0.01.
Medtronic (MDT): Reported EPS of $0.85 in-line with estimates. Pre-market: 41.10 -0.35 (-0.84%)
Futures at 8:51: Dow . S&P . Nasdaq . Crude to $1641.40.
Europe: London . Paris . Frankfurt .
Asia: Japan . Hong Kong -0.02%. China . India .