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The Market Slips Lower And EBay Falls On Earnings Outlook

NEW YORK, April 19, 2013 /PRNewswire/ --

All three major indexes fell lower on Thursday after a range of companies reported disappointing earnings including eBay. Thursday was the third loss for the major indexes this week. Ebay announced strongly quarterly earnings but revealed a dismal second-quarter outlook causing the stock to close down nearly 6% yesterday.

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Pepsico, Inc. (NYSE: PEP) - PEP shares hit a new all-time high of $83.44 on Thursday. The Company's first-quarter earnings beat analyst expectations. Q1 EPS jumped 12% to 77 cents per share, beating analyst estimates by 6 cents. Sales rose 1% to $12.6 billion, above estimates of $12.5 billion.

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Catalyst Pharmaceutical Partners Inc. (Nasdaq: CPRX) - CPRX shares saw an unusual breakout on Thursdsay closing up nearly 20% yesterday on tremendous trading volume. Volume traded was nearly 2 million shares compared to an average of about 279,000 shares. The stock closed at $0.56 yesterday and has a 52-week trading range of 0.37 - 2.27. Inc. (Nasdaq: OSTK) - Overstock was one of the biggest gainers on the Nasdaq yesterday. The stock closed up 37% on Thursday after the company announced that 1Q profit blew expectations. The Company's first-quarter net income nearly tripled. Overstock's revenue also increased 19 percent to $312 million from $262.4 million.

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Nokia Corporation (NYSE: NOK) - NOK closed down nearly 12% yesterday at $3.16 after the company revealed weak Q1 results with revenue scraping 13-year lows. Nokia reported revenue of 5.85 billion euros, or $7.64 billion in U.S. dollars, down 20% from the year-earlier quarter and missing consensus estimates of 6.5 billion euros. The stock has a 52-week trading range of 1.63 - 4.90.

Apple Inc. (Nasdaq: AAPL) - Apple shares continued to sink on Thursday closing down 10.62%. The stock hit a new 52-week low of $389.74. A report from DigiTimes, a Taiwanese paper known for insight into technology supply chain issues, said that iPad Mini shipments will fall 20% to 30% from the previous quarter. JPMorgan analyst Mark Moskowitz said in a note to investors yesterday that he anticipates Apple's earnings to be beat this quarter.

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Disclosure: is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please read our report and visit our website, for complete risks and disclosures.

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