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February 8, 2013
10:17 EDTAAPL, NWSADOJ settles with Macmillan in Ebooks case
The Department of Justice announced that it has reached a settlement with Holtzbrinck Publishers, which does business as Macmillan, and will continue to litigate against Apple (AAPL) for conspiring with Macmillan and four of the other largest U.S. book publishers to raise e-book prices to consumers. The proposed settlement was filed in the U.S. District Court for the Southern District of New York. If approved by the court, the settlement will resolve the department's competitive concerns involving Macmillan. The department's Antitrust Division previously settled its claims against four book publishers-Hachette Book Group Inc., HarperCollins Publishers L.L.C., Penguin Group and Simon & Schuster Inc. On April 11, 2012, the department filed a lawsuit against Apple and the five publishers alleging they conspired to eliminate retail price competition, resulting in consumers paying millions of dollars more for their e-books. The settlement with Hachette, HarperCollins and Simon & Schuster was approved by the court in September 2012. The public comment period on the department's settlement with Penguin will close on March 5. The trial against Apple is scheduled to begin in June. "As a result of today's settlement, Macmillan has agreed to immediately allow retailers to lower the prices consumers pay for Macmillan's e-books," said Jamillia Ferris, Chief of Staff and Counsel at the Department of Justice's Antitrust Division. "Just as consumers are already paying lower prices for the e-book versions of many of Hachette's, HarperCollins' and Simon & Schuster's new releases and best sellers, we expect the prices of many of Macmillan's e-books will also decline." According to the complaint, the five publishers and Apple were unhappy that competition among e-book sellers had reduced e-book prices and the retail profit margins of the book sellers to levels they thought were too low. To address these concerns, the department said the companies worked together to raise retail e-book prices and eliminate price competition, substantially increasing prices paid by consumers. Before the companies began their conspiracy, retailers regularly sold e-book versions of new releases and bestsellers for, as described by one of the publisher's CEO, the "wretched $9.99 price point." As a result of the conspiracy, consumers were typically forced to pay $12.99, $14.99 or more for the most sought after e-books, the department said. Under the proposed settlement agreement, Macmillan will immediately lift restrictions it has imposed on discounting and other promotions by e-book retailers and will be prohibited until December 2014 from entering into new agreements with similar restrictions. The proposed settlement agreement also will impose a strong antitrust compliance program on Macmillan, including requirements that it provide advance notification to the department of any e-book ventures it plans to undertake jointly with other publishers and regularly report to the department on any communications it has with other publishers. Also for five years, Macmillan will be forbidden from agreeing to any kind of most favored nation provision that could undermine the effectiveness of the settlement.
News For AAPL;NWSA From The Last 14 Days
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July 21, 2014
09:38 EDTAAPLActive equity options trading on open
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08:17 EDTAAPLApple upgraded at JMP Securities
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07:14 EDTAAPLApple should be owned into tomorrow's results, says Piper Jaffray
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06:42 EDTAAPLApple price target raised to $115 from $100 at UBS
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05:57 EDTAAPLApple upgraded to Outperform from Market Perform at JMP Securities
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July 20, 2014
13:06 EDTAAPLFormer Obama spokesman Carney said to consider job at Apple, Bloomberg says
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July 18, 2014
16:47 EDTAAPLMarket ends week higher as earnings, M&A offset geopolitical tensions
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16:03 EDTAAPLOptions Update; July 18, 2014
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11:03 EDTAAPLEU says Google adding 'in-app' purchase protections, Apple yet to commit
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10:33 EDTAAPLSkyworks price target raised to $62 from $56 at Craig-Hallum
Craig-Hallum increased its price target on Skyworks (SWKS) after the company's Q3 results surpassed its guidance, and the company issued guidance for its September quarter that the firm views as strong. The firm thinks the company's annual EPS is moving towards $5. It expects the company to benefit from the launch of Apple's (AAPL) iPhone 6 and the recent popularity of Internet of Things devices. Craig-Hallum thinks the shares look cheap and reiterates a Buy rating on the shares.
09:48 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NQ GOOG GOOGL TSLA KGC TWTR AMZN ELNK AMGN FB
07:49 EDTAAPLEU says Apple should do more to battle in-app purchases issue, Reuters says
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06:58 EDTAAPLReport says iPhone 6 begins mass production this month, Reuters says
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July 17, 2014
16:40 EDTAAPLBill Campbell retires from Apple's board, replaced by Susan Wagner
Apple (AAPL) announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board. Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Wagner co-founded BlackRock in 1988, holding a range of leadership positions including vice chairman until mid-2012.
16:01 EDTAAPLOptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
15:05 EDTAAPLEarnings Preview: IBM reports after Apple deal, dividend hike
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14:51 EDTAAPLApple heads lower to test of support, levels to watch
The shares are heading lower, last at $93.48. At that price the stock is just above uptrend support at the 30-day moving average, last at $93.11. A break below the 30-day moving average would set the stage for a test down to the 50-day moving average at $90.57. Resistance is at $95.10, the 10-day moving average.
14:44 EDTAAPLAsus tablet sales in Japan top Apple in first half of year, Nikkei says
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13:33 EDTAAPLAmazon.com reportedly deveoping Android app for Prime content, Cnet says
Amazon (AMZN) may soon release an app that would enable users of Google's (GOOG) Android operating system to stream content from Amazon's Prime Instant Video, PC Advisor reported, according to Cnet. Currently Amazon's Kindle Fire tablets and Apple's (AAPL) iPads are the only mobile devices that can access content from Prime, Cnet stated. Reference Link
09:40 EDTAAPLActive equity options trading on open
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