Market Minute: SeaWorld Stock Set to Dive; Apple Shares Defy Gravity

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Apple is hot again, but SeaWorld does a belly-flop. Those stocks and more are what's making business news Wednesday.

The Dow Jones industrial average (^DJI) rose 31 points Tuesday, the Standard & Poor's 500 index (^GPSC) added 4, and the Nasdaq composite index (^IXIC) gained 14.

Apple (AAPL) shares jumped nearly 5 percent Tuesday, and the rally could continue today. Billionaire Carl Icahn has acquired a billion dollar plus stake in Apple, and he's calling on the company to make a large share buyback. He believes the stock could once again trade at $700 a share.

sea world earnings carl icahn apple undervalued stocks wall street market news
Jerod Harris/Getty Images
Investors in SeaWorld (SEAS) might feel as though they just got tossed in the tank with Shamu the killer whale. The theme park operator posted a quarterly loss, hurt by a drop in attendance, as well as expenses tied to its initial public offering back in April. SeaWorld shares are set to tumble.

Retailer Macy's (M) also reported disappointing quarterly results.

But farm equipment maker Deere (DE) is set to rally after plowing past expectations and raising its forecast for the full year.

Brocade Communications (BRCD), a networking equipment maker, is poised to soar after posting better-than-expected results.

Wendy's (WEN) has sold 30 restaurants in the St. Louis area, part of a broader plan to sell hundreds of its outlets across the country. The buyers of the St. Louis stores are former NBA player Junior Bridgeman and current player Chauncey Billups.

Coca-Cola (KO) is set to run newspaper ads defending the safety of aspartame and other low-and-no calorie sugar substitutes as part of healthy diet. According to Ad Age, Coke says the sweeteners used in diet sodas are "safe, high-quality alternatives to sugar."

Last month, online game maker Zynga appointed a new chairman -- former Microsoft (MSFT) executive Don Mattrick. He's wasting no time in shaking up the management team. Three top executives, including the chief operating officer, are leaving the company. Zynga's (ZNGA) stock has lost 70 percent of its value since going public in late 2011.

And Eli Lilly & Co. (LLY) says an experimental drug to treat patients with a form of lung cancer showed improved survival rates in a late-stage clinical trial.

-Produced by Drew Trachtenberg.


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7 Comments

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roy022

The economy has had an impact on the sluggish sales at Seaworld. But, it's the negative publicity surrounding the conditions the Orcas in captivity live in that have really influenced the steady decline in ticket sales.

They are owned by BlackRock. So, the care of their marine life shouldn't be an issue if ticket sales plummet. If they want to turn their business around however, they need to address the issue around the Orcas. My guess, release the Orcas in the wild..I think the risks outweight the current situtation.

Seaworld need to change public opinion no matter what. With Free Willy and Blackfish out there, they have no other alternative but to address these issues
I

August 14 2013 at 3:22 PM Report abuse +1 rate up rate down Reply
socalflash

Seaworld is too expensive. Don't see how many people can afford to go there.
I went once about 12 - 14 years ago. Will probably never return due to cost.

August 14 2013 at 2:52 PM Report abuse rate up rate down Reply
chutsper

I hope that SeaWorld doesnt go belly up, they do such important and wonderful work with sealife in thier rescue and rehabilitation and education. But I do think that a lot of amusement parks like this and Disney etc are pricing themselves out of the affordable market in this abysmal economy and most families of average means find it hard to cover the daily cost to attend these parks, with it running over four or five hundred dollars just to get in for a family of four or five., Maybe SeaWorld can generate income by offering more educational programs adn be certified to teach or certify others in the handling and caring for the sea life, and maybe if they lowerd their entrance costs for visitors to a more reasonable rate they would generate more visitors as well more often

August 14 2013 at 2:13 PM Report abuse +1 rate up rate down Reply
cla.connie

All of these theme parks are like casinos for children. They are nothing more than a money pit you pour your hard earned cash in to for the joy of standing in a line in the hot sun. They allow too many people in the parks at the same time (this is especially true over a holiday) then after you have paid for your overpriced ticket and they know they have you there is another sneaky way they jerk you around for even more cash called a "fast pass" which means you pay more money to get in a shorter line but it is yet another line. Save your cash don't go to these places and watch the prices come down and they will begging for your business.

August 14 2013 at 10:03 AM Report abuse -2 rate up rate down Reply
2 replies to cla.connie's comment
jdykbpl45

You don't have to go.

August 14 2013 at 10:21 AM Report abuse +4 rate up rate down Reply
endlessdrip

Again, stupidity in the making. Who will suffer if people don't attend these parks?
The animals stupid! They need care, food, and so much more and this all costs huge sums of money. Go to the park when its later in the afternoon. Go to the park when it's not a holiday or when school is in. The tickets are not overpriced, your just cheap!

August 14 2013 at 1:20 PM Report abuse -1 rate up rate down Reply
michael_vici

Type your comment here中国隐秘共产党从我身上做了二十年人性精神虐待试验,中国可以发生这样虐待人的事情,中国没有希望了,我是真心希望中国亡国啊。既然中国有纳米分子的事情,那其他的国家也有。我希望能有替我伸张正义的人,因为我实在是受不了了,生活一点希望都没有。现在每天就是被虐待。到底还有没有公道正义,还有没有王法。到底谁能帮帮我啊,因为我的身上只有纳米分子,所以我没有任何办法去反抗,只能硬抗。我的感觉就是被软不垃圾的刀子使劲的插,隐秘共产党不一下子伤害我,就是慢慢的一点点的力度很大的去虐待我。事情太多了,我就不一一列举了,就举一个现在的例子吧。隐秘共产党用纳米分子技术对我的身体制造出极度痒慎的难受,他不一下子伤害我,而是一点点的难受。这种难受还有些说不出来,不好形容,就是肋骨处被用纳米分子扭曲住了脉络,造成这一片身体极度的难受,也不疼,就是难受。身体其他部位主要是头部还有激越式的难受,坐也不是躺也不是,晚上不光睡不着觉而且怎么躺着都极度难受,只能站起来走一走,可我不能只是走啊。在这里我寻求帮助。因为我实在顶不住了。手机号码13853788002

August 14 2013 at 9:42 AM Report abuse -2 rate up rate down Reply
scary91457

If SeaWorld does the right thing, and begins a return to the wild release program for ALL it's whales, then they will see public support again. But people have now become aware that it is wrong to keep these animals in captivity for cruel human entertainment. There is NO pool big enough for a WHALE of any kind without causing stress and insanity. They NEED to be FREE.

August 14 2013 at 9:40 AM Report abuse +2 rate up rate down Reply
2 replies to scary91457's comment
glers

Right On!

August 14 2013 at 10:00 AM Report abuse rate up rate down Reply
endlessdrip

Ok you liberal idiot. If a whale or two bring pleasure to people seeking entertainment and in the process helps hundreds or thousands of people have a job not to mention bring awareness to the whale's needs, then there should be support for Sea World and people should support their program. If a whale should die in captavity we all feel bad about that but dam it, get another one so that people will continue to see this incredible animal and support it.

August 14 2013 at 1:17 PM Report abuse -3 rate up rate down Reply
Scoot

you gota be some kind of sucker to buy stock in sea world !

August 14 2013 at 9:05 AM Report abuse rate up rate down Reply