Apple Inc. rose 1% to $432.60. BTIG Research analyst Walter Piecyk raised his rating on the company to buy from neutral, citing opportunity from yet to be announced products and expectation Apple will return to per share earnings growth in 2014.
BlackBerry, formerly known as Research In Motion Ltd., jumped 1% to $15.80. The stock surged 8.2% yesterday after the Canadian smartphone maker said one of its “established partners” is buying 1 million BlackBerry 10 phones.
Amazon slid 2.4% to $268.53 after JPMorgan lowered its recommendation on the shares to neutral from overweight, saying some of the online retailer’s key business lines indicate more material deceleration in 2013 gross profit.
E*Trade Financial fell 6.8% to $11.02. Citadel, its largest shareholder, said late yesterday that it will sell about 27.4 million shares after E*Trade rejected pressure to find buyers and the stock rallied 32% this year.
Citadel asked E*Trade in 2011 to hire a bank to review strategic alternatives and take immediate action to maximize shareholder value after “catastrophic losses” that had driven the shares down 97% since 2007.