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News Breaks
July 22, 2014
13:18 EDTIBM, BLK, AAPLEarnings Preview: Apple reports after stock split, Beats purchase, iOS 8 launch
Apple (AAPL) is set to report third quarter earnings after the market close on Tuesday, July 22, with a conference call scheduled for 5:00 pm ET. Apple, the world's most valuable company by market capitalization, is the manufacturer of the iPhone and iPad, among other desktop and mobile computing devices. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $37.99B, according to First Call. The consensus range for EPS is $1.14-$1.37 on revenue of $36.58B-$40.31B. In a note to investors, Piper Jaffray analyst Gene Munster said Street analysts expect year-over-year iPhone sales growth of 14% to 35M-36M units, flat iPad sales of 14M-15M units, and a Q3 gross margin of 38%. Munster added that he expects Apple to guide Q4 revenues to $39B-$41B, which is in keeping with Street estimates for about $40.4B in Q4 revenue. LAST QUARTER: Apple reported second quarter EPS of $11.62 on revenue of $45.6B, which topped estimates for $10.18 and $43.5B, respectively. Apple reported iPhones sales of 43.7M units, iPad sales of 16.35M units and Mac sales of 4.14M. Apple said it sees Q3 revenue of $36B-$38B and a gross margin of 37%-38%. Along with its Q2 report, Apple announced a seven-for-one stock split. Apple also announced that its board raised its share repurchase authorization to $90B from the $60B level announced last year and an increase to the company’s quarterly dividend of approximately 8% to $3.29 per common share. NEWS: On May 28, Apple confirmed that it agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple said at that time that it expects the transaction to close in Q4. On June 2, Apple announced OS X Yosemite, a new version of OS X redesigned and refined with a new look, new apps and new continuity features. Apple also unveiled iOS 8, a new version of its mobile operating system with new features for users and developers. Among the features were iCloud Photo Library, which allows user to enjoy photos and videos more easily across devices, new Messages features to easily share voice, video or photos, and a new Health app. Apple noted that the software development kit, or SDK, for iOS 8 was its "biggest developer release ever," with more than 4,000 new APIs. Apple and IBM announced last week that they would collaborate to provide mobile solutions for businesses. Under the deal, the companies will develop more than 100 enterprise solutions, including native apps, for Apple's iPhone and iPads. Moreover, IBM will sell iPhone and iPads to all of its business clients around the world, the companies noted. Also last week, Apple announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board and that Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Mac Rumors reported on July 10 that Apple was said to have ordered 68M iPhone 6 devices, citing a report in Taiwan's Business Weekly. That's double the amount of phones that the tech giant ordered prior to launching the iPhone 5 in 2012, the tech blog noted. The Wall Street Journal subsequently claimed that Apple has asked its suppliers to manufacture between 70M-80M of its two upcoming large-screen iPhones by the end of the year. ANALYST OPINION: On the day after Apple's last quarterly report, CLSA upgraded its rating on the shares to Buy from Outperform. On May 9, ISI Group downgraded Apple to Buy from Strong Buy, citing valuation. On June 2, following Apple's launch event for iOS 8, Piper Jaffray said it believed parts of Apple's new operating system point towards a possible iWatch later in the year and potential connected home products in the future. Piper said at that time that Apple remains on track to deliver multiple new product categories by the end of 2014. On June 17, Societe Generale upgraded Apple to Buy from Hold. On July 14, Barclays raised its rating on Apple to Overweight from Equal Weight, citing its channel checks that indicated near-term upside to consensus estimates. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share and raised its price target for Apple shares to $110 from $95. The same day, Morgan Stanley said its survey results suggest June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24. Morgan Stanley increased it price target on Apple to $110 per share. Yesterday, JMP Securities upgraded Apple to Outperform from Market Perform, as the firm thinks the company is poised to report higher than expected sales and gross margins over the near-term and intermediate term. JMP set a price target of $135 on the stock. In his note previewing Apple's quarter, Munster wrote that Apple's guidance for its September-end quarter should tell investors if new iPhones are launching in September or later in the year. The Piper analyst expects a typical September launch, which could give the company 5 or 12 days of sales with the new phone depending on a standard Friday launch and its timing. Munster estimated the potential 7 day swing in the timing of the new phone could mean a 3M-4M unit and about $2B difference in the guidance for Q4, citing recent weekly run-rates for iPhone sales near launch quarters. PRICE ACTION: Each Apple shareholder of record at the close of business on June 2 received six additional shares for every share held on the record date and trading began on a split-adjusted basis on June 9. Shares of Apple advanced about 8% on the first day of trade following its Q2 report. Since the first day of trade following its last quarterly report, shares of Apple are up nearly 26%. In early afternoon trading ahead of its Q3 report tonight, Apple was up fractionally to just over $94 per share.
News For AAPL;BLK;IBM From The Last 14 Days
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November 16, 2014
20:04 EDTAAPLApple: App Store adds UnionPay as payment option for customers in China
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November 14, 2014
17:13 EDTAAPLAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
16:39 EDTIBMBerkshire Hathaway gives quarterly update on stakes
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16:01 EDTAAPLOptions Update; November 14, 2014
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10:49 EDTAAPLReport: iPhone 6 outselling iPhone 6 Plus 3-to-1 margin, Apple Insider says
Apple's iPhone 7 lineup is mostly driven by the 4.7-inch model, accounting for 68% of all iPhone sales, while the iPhone 6 Plus took between 23%-24%, reports Apple Insider. Citing a report from Consumer Intelligence Research Partners, the new iPhones represented 91% of total iPhone sales compared to the iPhone 5s and 5c accounting for 84% of total iPhone sales a year ago. Reference Link
09:38 EDTAAPLActive equity options trading
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07:52 EDTAAPLIntegrated Device to benefit from wireless charging adoption, says Craig-Hallum
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07:05 EDTAAPLApple told FTC health data will be protected, Reuters reports
The U.S. Federal Trade Commission has asked Apple to prevent sensitive health data that will be collected by its devices from being used without users' consent, according to Reuters, which cited two unnamed sources. The tech giant has promised the FTC that it will not sell the data to third parties or allow developers to do so, the news service stated. Reference Link
06:54 EDTAAPLU.S.warns on vulnerability in Apple's iOS, Reuters reports
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06:16 EDTAAPLEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
16:03 EDTAAPLOptions Update; November 13, 2014
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13:28 EDTAAPL, IBMBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
12:02 EDTIBMIBM signs 10-year, large-scale services agreement with WOOX Innovations
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11:13 EDTAAPLApple hits 52-week high after Bernstein says margins could climb
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09:40 EDTAAPLActive equity options trading
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08:01 EDTAAPLApple price target raised to $120 from $110 at Bernstein
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08:01 EDTAAPLCalpian says deploys Apple Pay for merchants
Calpian, Inc. (CLPI) has successfully enabled Apple Pay (AAPL) for its merchant customers as they respond to growing consumer interest in the new mobile payment service.
06:39 EDTAAPLApple's rumored iPad Pro delayed to 2Q15, AppleInsider reports
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06:23 EDTAAPLChipmakers in Apple Watch supply chain to start production, DigiTimes reports
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06:07 EDTAAPLApple paying little in iTunes taxes outside North America, AFR reports
According to a report from The Australian Financial Review, which cites an investigation led by the International Consortium of Investigative Journalists, more than two-thirds of the money Apple’s iTunes makes outside North America goes through the group’s Luxembourg holding company where it is not taxable. Apple has been widely criticized for its tax practices in Europe. Reference Link
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