Apple's Falling, but This Beaten-Down Stock Is Flying Higher Thursday
Investors continued to wrestle with confusing conditions in the stock market on Thursday morning. After a couple of days of declines -- with plenty of ups and downs along the way -- market indexes tried to mount a recovery in the premarket session. However, not all of the indexes reacted favorably. As of 8 a.m. ET, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 215 points to 34,217, and S&P 500 (SNPINDEX: ^GSPC) futures had gained 15 points to 4,523, but Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were down another 17 points to 15,853.
Much of the downward pressure on the Nasdaq came from poor performance from Apple (NASDAQ: AAPL), whose shares fell on news that could have an impact on its near-term financial results. However, another high-profile stock managed to gain altitude after having suffered some big losses lately. Below, we'll go into Apple's woes and then reveal which stock got some long-awaited news that could help build positive momentum for a key part of its global business.
Image source: Getty Images.
Source Fool.com
