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    Morning Movers: Apple Inc (AAPL), Netflix Inc (NFLX), Motorola Solutions (MSI)


    by IBTimes


    Apple Inc. (NASDAQ: AAPL) shares edged lower in pre-market trading on Tuesday, just a day after the company unveiled its new iPad Air and iPad Mini. However, Evercore Partners lifted its price target on the tech giant to $630 from $600, while Nomura raised its price target on the company to $513 from $480.

    On Tuesday, shares of Apple edged up 0.58 percent to $522.96 in morning trading.

    Carl Icahn on Tuesday cut his stake in Netflix, Inc. (NASDAQ: NFLX) from 4.5 percent from 9.4 percent, just a day following the company’s stronger-than-expected third-quarter earnings results.  

    Netflix, Inc. on Monday blew past expectations and posted fiscal third-quarter earnings of 52 cents a share on revenue of $1.11 billion, compared with a profit of 13 cents a share on revenue of $905.09 million a year-ago. Wall Street had expected Netflix to report earnings of 49 cents a share on $1.1 billion in revenue, according to analysts polled by Reuters.

    Shares of Netflix rose 0.49 percent to $324.09.

    Motorola Solutions Inc (NYSE: MSI) On Tuesday reported third quarter profit rose to $307 million, or $1.16 per share, compared with $206 million, or 72 cents per share, a year earlier. Excluding certain items, earnings for the quarter came in at $1.32 per share, as revenue fell 2 percent to $2.11 billion, below Wall Street estimates.

    Shares of Motorola jumped 7.58 percent to $65.01.

    The Dow Jones industrial average fell 50.83 points or 0.33 percent, to 15,416.83. The S&P 500 lost 9.52 points or 0.54 percent, to 1,744.95. The Nasdaq Composite dropped 31.59 points or 0.80 percent, to 3,898.06.