Friday’s Headlines: Apple’s iPhone Sales Continue To Fall

Friday’s Headlines: Apple’s iPhone Sales Continue To Fall

1. Athleisure manufacturer Lululemon reported quarterly earnings and sales that topped analysts’ estimates but saw its stock drop more than 5% due to forecasts which fellow below analysts’ expectations. It now expects to earn between $2.10 and $2.13 per share during the holiday quarter, while analysts have been calling for earnings of $2.13 a share. Earnings per share came in at 96 cents versus expectations of 93 cents, on top of revenue of $916 million. For the complete report, read here.

 

2. Apple stock dropped slightly on Thursday before recovering later in the day after reports showed iPhone shipments in China dropped 35.4% in November compared to the same time last year. Since the launch of the iPhone 11 family, total shipments in China are down 7.4% compared to last year. Analysts cited the looming December 15 deadline that could see more tariffs imposed on Apple products as part of the ongoing U.S.-China trade war as more cause for concern. For the full story, read here.

 

3. Facebook’s stock fell nearly 3% following a report from The Wall Street Journal that the FTC is considering seeking a preliminary injunction against the company. The injunction would likely seek to block Facebook from enforcing policies around how its apps interact and could keep the company from pushing forward with its plans to integrate its three messaging services. The injunction may seek to prevent Facebook from its planned integration end-to-end encryption of Messenger, Whatsapp, and Instagram, citing that it could make investigations against criminals harder if they are using these services. Get the full story here.

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