Apple sees shares slide amid reports of slow iPhone X sales

December 30, 2017 at 8:00PM
Paul Kain waits for an Apple store to open Friday, Nov. 24, 2017, at a mall in Anchorage, Alaska. Kain, of Seward, Alaska, was among those hitting the stores for Black Friday shopping the day after Thanksgiving. He was planning to buy a coveted iPhone X at the Apple store. (AP Photo/Rachel D'Oro)
Apple shares lost about 3 percent last week on reports of weak sales for its long-awaited iPhone X. (The Minnesota Star Tribune)

Sour Apple: Apple slid 2.8 percent to $170.16 Tuesday after a Taiwanese newspaper reported that the company may cut iPhone X sales targets amid weak sales. Shares closed the week at $169.23.

Pharma deal: Sucampo Pharmaceuticals climbed 5.3 percent to $17.90 Tuesday after it agreed to be acquired by drugmaker Mallinckrodt for $839 million, or $18 a share. Sucampo had $230 million in total revenue last year. Shares in Sucampo closed Friday at $17.95. Mallinckrodt shares, which rose 5.7 percent, to $24.65 on the news, closed the week at $22.56.

Sales bounce: Kohl's jumped 6.1 percent, to $56.92, while Macy's added 5.1 percent, to $26.99, on Tuesday on reports that holiday sales notched their biggest gains in years. Kohl's closed at $54.23 Friday; Macy's closed at $25.19.

Replace your divot: Callaway Golf tumbled 7 percent to $14.29 Wednesday after the company said it invested another $20 million in entertainment company Topgolf, giving it a 14 percent stake. Callaway shares closed the week at $13.93.

Rough road: JB Hunt Transportation Services slid 2.1 percent to $113.01 Thursday after the trucking company issued a disappointing fourth-quarter profit forecast. JB Hunt expects to take about $40 million in one-time charges for the quarter. The stock closed at $114.98 Friday.

No deal bounce: SandRidge Energy rose 10 percent to $21.07 Friday after calling off a deal to buy Bonanza Creek Energy. The deal had been opposed by activist investor Carl Icahn, a shareholder in SandRidge.

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Jeremy Olson/The Minnesota Star Tribune

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