Netflix's Stock Keeps Soaring As Apple Hits New High And Google Suffers
SILICON VALLEY (CBS SF) -- The major stock indexes did not move much on Monday, but that didn't stop a number of Silicon Valley companies from making news on the trading floor.
- Netflix Inc. shares shot up 13.8 percent after the Los Gatos company made its debut in Britain and Ireland. The Associated Press noted that the stock has gained 28 percent this year, making it the best in the S&P 500. Netflix traded above $300 last summer, then plunged to $62 after the company surprised customers with a price increase.
- Apple Inc. shares, which have been steadily rising this year, hit a new all-time high with a trade at $427.75, CNET reported. It eclipsed the Cupertino company's previous high-water mark of $426.70 set Oct. 17. The new all-time high came amid expectations that the company will report record earnings later this month.
- Shares of Mountain View-based Google Inc. fell nearly 4 percent, after Motorola Mobility Holdings' warning of worse-than-expected financial results raised concerns about Google's pending acquisition of the smartphone maker, Reuters and Bloomberg reported.
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