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

DailyFinance Staff

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.

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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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