Stocks to Watch: AMZN, AAPL, LYB & More
Senior Editor, CNBC
Take a look at some of Thursday's midday movers:
Amazon.com declined on profit taking after touching a 52-week high early in the session. News that its Kindle Fire tablet computers were currently sold out and had captured 22-percent of the tablet market had sparked the rally. The company is expected to reveal its next-gen model of its tablet September 6. At $199, the Kindle Fire currently sells at a much lower price point than Apple’s iPad. Apple traded lower.
LyondellBasell Industries rallied after news the company would replace long-time stalwart Sears Holdings in the S&P 500 Index. The change is expected to take place after the market close on September 4. LyondellBasell Industries manufactures and sells chemicals and is headquartered in The Netherlands.
Gap rallied after the retailer posted better-than-expected same-store sales in August, up 9-percent. In a press release, Gap Chief Executive Glenn Murphy said the company "drove strong back-to-school sales, particularly at Old Navy."
Ciena tumbled after the network-equipment maker reported a disappointing quarter and warned that its current-quarter revenue would be below estimates. In a statement, CEO Gary Smith said "We are experiencing the effects of ongoing macroeconomic challenges and slower than expected rollouts of new design wins."
First Solar plunged more than 15 percent. The solar panel maker hurt by weak earnings results from some of its smaller competitors including JA Solar .
—By CNBC's Lori Spechler.
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