Switch surges on market debut, Costco sinks despite beat, iPhone 8 battery problems

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

Costco (COST) fell in early trading despite much better than expected results. While Costco beat on most key metrics, investors are worried about how the bulk retailer will withstand pressure from Amazon (AMZN). And one day after Amazon announced it’s testing its own delivery service, Costco is announcing a fresh-food delivery partnership with Instacart, a startup that delivers groceries in one day.

Yum China (YUMC) delivered a beat on both its top and bottom lines thanks to strong sales at KFC. It is also announcing a C-suite shake-up. CEO Micky Pant is stepping down. Joey Wat, Yum China’s current COO, will replace him.

Switch (SWCH) shares soared on its market debut on the NYSE Friday morning. The Las Vegas-based data-center company priced its IPO higher than expected last night at $17 a share, raising more than $500 million. Switch plans to use the proceeds to buy out investors in its limited liability company.

Apple (AAPL) shares are in focus after state media in China said Apple’s iPhone 8 is popping open due to a swollen battery. Buyers say upon arrival, the phones are cracked open without them even turning it on or charging the phone.

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