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Apple Inc. is poised to be the first company to reach a $1 trillion market cap, RBC Capital analysts said Wednesday. Apple shares have been on a tear, with the stock gaining $56 billion in market capitalization a week after it reported better-than-expected third-quarter earnings expectations. And despite the already large gains, RBC analysts said they believe there is more upside left, particularly as Apple nears its mid-September phone launch. They calculate that historically Apple’s stock has a median return of 15.6% in the 90 days prior to the launch of a new product cycle. Additionally, they say Apple’s strong gross-margin performance, as well as better expected sales in China next quarter should sustain the stock momentum beyond the phone launch. The analysts have a base case of earnings per share of $10.50 for the next quarter, but see a bull case in which EPS reaches $12 or above, boosted by the new iPhone. They reiterated an outperform rating and $176 price target. Shares of Apple have gained 11% in the past month, outperforming the S&P 500’s gain of 2%.

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Crocs Inc. shares slid 1.4% in Wednesday premarket trading after the shoe company announced weak guidance. Crocs second-quarter net income totaled $18.1 million, or 20 cents per share, up from $11.7 million, or 13 cents per share, for the same period last year. The FactSet consensus was 14 cents. Revenue for the quarter was $313.2 million, down from $323.8 million but ahead of the $312.0 million FactSet consensus. The company forecasts third-quarter sales between $230.0 million and $240.0 million. The FactSet consensus is for $247.5 million. Crocs expects full-year revenue to be down in the low-single digits year-over-year due to various business model changes and store closures. Crocs shares are up 18% for the year so far while the S&P 500 index is up 10.6% for the period.

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French police are searching for a car that rammed a group of soldiers in the suburb of Levallois-Perret near Paris early Wednesday, the local police force said on Twitter. Six of the soldiers were wounded, two seriously, media reports said. They are part of the Operation Sentinelle forces posted at sites in France believed to be particularly exposed to risk of terrorist attack, such as near religious buildings or tourist spots. The perpertrators fled the scene, and the hunt is now underway.

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U.S. stock futures eased early Wednesday, as investors kept watch on an increasingly tense situation between the North Korea and the U.S. A spokesman for the Strategic Force of the Korean People’s Army said early Wednesday that a plan to strike a U.S. military base in Guam was being considered. That came hours after President Donald Trump warned of a “fire and fury” response to North Korea if it threatened the U.S. S&P 500 index futures fell 5.8 points, or 0.2%, to 2,467, while Dow Jones Industrial Average futures eased 15 points to 22,015. Nasdaq-100 futures slid 16.25 points, or 0.3%, to 5,901.75. Asian stocks also fell across the board, while perceived safe-haven assets gold and the Japanese yen , rose.

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From:: Stock Market News

U.S. stock futures eased early Wednesday, as investors kept watch on an increasingly tense situation between the North Korea and the U.S. A spokesman for the Strategic Force of the Korean People’s Army said early Wednesday that a plan to strike a U.S. military base in Guam was being considered. That came hours after President Donald Trump warned of a “fire and fury” response to North Korea if it threatened the U.S. S&P 500 index futures fell 7.8 points, or 0.3%, to 2,465, while Dow Jones Industrial Average futures dropped 29 points, or 0.1%, to 22,001. Nasdaq-100 futures slid 23 points, or 0.4%, to 5,895. Asian stocks also fell across the board, while perceived safe-haven assets gold and the Japanese yen , rose.

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A powerful earthquake in southwest China killed at least 13 people and left 175 injured early Wednesday. The quake, which the U.S. Geological Survey measured as magnitude-6.5, stuck a popular tourist area in Sichuan province. Chinese media reported more than 1,000 emergency workers were flooding into the area, and 30,000 tourists were evacuated from the region, which is known for its waterfalls and mountain vistas. Hours later another major quake struck in northwest China. There were no immediate reports of damage or injuries from the second quake — a magnitude-6.3, according to the USGS — which was centered in the sparsely populated Xinjiang Uyghur autonomous region, near the border with Kazakhstan.

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North Korea raised the stakes in a war of words late Tuesday with its military threatening to strike the U.S. territory of Guam in a pre-emptive operation, according to media reports. Citing North Korea’s state media, Reuters and Dow Jones reported a spokesman for North Korea’s military said it is carefully examining an operational plan to launch missiles at Guam, where the U.S. has several military bases. The threat from North Korea comes after President Donald Trump said North Korea faces “fire and fury” if it continues with its threats. After a choppy day of trade, the Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index all finished lower after Trump’s remarks. Trump’s remarks followed reports that North Korea had successfully produced a nuclear warhead small enough to fit atop a missile.

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Shares of Achillion Pharmaceuticals Inc. surged in the extended session Tuesday after the drug developer met expectations for second-quarter results and said early results of a blood disorder treatment look promising. Achillion shares rallied 33% to $5.35 after hours. The company said four patients so far enrolled in a mid-stage clinical study of ACH-4471, meant to treat paroxysmal nocturnal hemoglobinuria, were responding well to the drug. Paroxysmal nocturnal hemoglobinuria is a rare, acquired condition where the body’s immune system destroys red blood cells in error. Achillion also reported a second-quarter loss of $22.5 million, or 16 cents a share, compared with a loss of $18.5 million, or 14 cents a share, in the year-ago period. Analysts surveyed by FactSet had forecast a loss of 16 cents a share.

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Jazz Pharmaceuticals PLC shares dropped in the extended session Tuesday after the biotech company fell short of Wall Street estimates for quarterly results and affirmed its outlook for the year. Jazz shares fell 7.9% to $140.30 after hours. The company reported second-quarter net income of $105.6 million, or $1.72 a share, compared to $114.5 million, or $1.85 a share, in the year-ago period. Adjusted earnings were $2.56 a share. Revenue rose to $394.4 million from $381.6 million in the year-ago period. Analysts surveyed by FactSet had estimated $2.75 a share on revenue of $410.9 million. For the year, Jazz estimates adjusted earnings of $10.70 to $11.30 a share on revenue of $1.63 billion to $1.7 billion. Analysts expect earnings of $11.02 a share on revenue of $1.66 billion.

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