Lennar tops estimates; FBI unlocks Apple iPhone; LinkedIn downgraded
It’s time for your daily dose of trending tickers, the stocks you’re following based on your Yahoo Finance ticker searches.
Lennar (LEN) – The homebuilder reported first quarter earnings that beat on both the top and bottom lines, posting earnings per share of $0.63 on revenue of $2 billion. Lennar said the average sales price of homes delivered increased 12% year-over-year to $365,000, while deliveries rose 12% and backlog increased 13%.
LinkedIn (LNKD) – Barclays analyst Paul Vogel downgraded the company from overweight to equal weight on concerns over revenue growth. Vogel also lowered his price target to $130 from $205.
Apple (AAPL) – The Department of Justice is withdrawing legal action against Apple after a third party was able to break into the iPhone of the San Bernardino shooter.
Foot Locker (FL) – The sportswear retailer will join the S&P 500 after the close of trading on April 1, according to S&P and Dow Jones indices. Foot Locker will replace Cameron International, which is being acquired by Schlumberger in a deal valued at $12.7 billion.
Yahoo (YHOO) – The Wall Street Journal is reporting that Yahoo has set an April 11 deadline for preliminary bids on its core businesses and Asian assets.
T-Mobile (TMUS) – TmoNews reports that the carrier will launch a range of plans called Simple Choice Data- Only on March 30. The plans reportedly come with unlimited texting but do not include voice service.
Chipotle (CMG) – Wedbush Securities downgraded the Mexican food chain’s stock to underperform from neutral on concerns over its valuation. The investment firm also lowered its price target on the stock to $400 from $450.
General Motors (GM) – The auto giant avoided a fraud verdict in a key trial over the ignition switch issue. A federal judge ruled that there was not enough evidence to support the allegation that GM made misleading comments.
Wells Fargo (WFC) – Billionaire Warren Buffett upped his stake in Wells Fargo. Buffett’s Berkshire Hathaway now owns 10% of Wells Fargo, a level that means the investment could see more federal scrutiny. Berkshire owns 506.3 million shares of Wells Fargo, worth about $24.7 billion.