Stock Market Movers: AMC Entertainment, Apple, BlackBerry, Tesla


Investors were pleased by the announcement AMC Entertainment obtained a $917 million capital infusion to avoid bankruptcy.  Between April and November last year, the company raised $1 billion in cash.

In a statement, AMC Entertainment CEO Adam Aron said, “Today, the sun is shining on AMC…We are proud to announce today that over the past six weeks AMC has raised an additional $917 million capital infusion to bolster and solidify our liquidity and financial position. This means that any talk of an imminent bankruptcy for AMC is completely off the table.”

Apple (NASDAQ: APPL) shares gained 2.77% to $142.99 each. The tech giant promoted its hardware chief, Dan Riccio to a new position “focusing on a new project.”

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In a note to investors, Wedbush Managing Director Dan Ives wrote, “The Street is anticipating robust results from Apple on Wednesday after the bell with Cupertino expected to handily beat Street estimates across the board.”  He is expecting Apple to report that it sold 240 million iPhone units, higher than the 220 million consensus estimate.