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Stock Market & Financial Investment News

News Breaks
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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September 8, 2014
07:35 EDTAAPLAmazon mulls Fire phone UK exclusively deal with O2, FT says
In an effort to rival Apple (AAPL) and Samsung (SSNLF) in the premium smartphone industry, Amazon (AMZN) is in final-stage discussions to sell its new Fire smartphone exclusively through Telefonica’s (TEF) O2 throughout the UK, reported the Financial Times. Reference Link
07:22 EDTAAPLFormer GT Advanced manager points to sapphire covers at Apple, MacRumors says
While neither Apple (AAPL) nor GT Advanced (GTAT) have confirmed that Apple plans to use sapphire covers for its upcoming iPhones, a former product manager at GT claims on his LinkedIn profile that he played a key role in selling Apple on sapphire display covers for its "mobile devices," according to MacRumors, citing a prior report from TechViking. Reference Link
06:44 EDTAAPLApple's iWatch could have own App Store, will run third-party apps, 9to5Mac says
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06:24 EDTAAPLGT Advanced September volatility elevated into Apple event
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06:21 EDTAAPLSmartwatch market to reach $10B by 2018, says Citigroup
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September 7, 2014
20:37 EDTAAPLApple's new iPhones face risk as carriers begin subsidy phase out, WSJ says
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14:10 EDTAAPLApple hires 'renowned' industrial designer Marc Newson, Bloomberg says
Apple has hired "renowned" industrial designer Marc Newson to work on future products, says Bloomberg. Newson will work on the small secretive Apple team that work on designs that give the company's products their physical look and feel, added Bloomberg. Reference Link
13:40 EDTAAPLApple looks to focus on health with unveiling of smartwatch, WSJ says
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September 5, 2014
16:45 EDTAAPLMarket ends week little changed after mixed economic data
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16:01 EDTAAPLOptions Update; September 5, 2014
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12:03 EDTAAPLAvago climbs after Citi predicts surge in iPhone components
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11:32 EDTAAPLApple, Google, Adobe appeal court's rejection of hiring settlement, Reuters says
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09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA YHOO WFM SLW ABX GOOG FB BIDU
08:22 EDTAAPLNVIDIA lawsuits likely to have positive outcome, says JMP Securities
After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities thinks there is a good chance that NVIDIA will obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC),. The firm thinks that other companies, most notably Apple (AAPL), will launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommends buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm is upbeat about NVIDIA's new products and reiterates an Outperform rating.
07:30 EDTAAPLApple iWallet would be positive for payment networks, says JPMorgan
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07:26 EDTAAPLApple strikes transaction fee discount deals, Bank Innovation says
Apple (AAPL) has reached deals with American Express (AXP), JPMorgan (JPM), Citigroup (C), Capital One (COF), and Bank of America (BAC) to lower card transaction fees for its soon to be launched payments venture, said Bank Innovations, citing an earlier report from Tom Noyes and confirmation by its own sources. Apple has both convinced them to consider its transactions as “card present,” which carries a lower discount rate, and has also managed to bump down the actual “card present” rate by 15 to 25 basis points, according to people with knowledge of the matter, the report noted. Reference Link
07:05 EDTAAPLApple shares could work going forward, says RBC Capital
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06:29 EDTAAPL$30 to be competitive price for sapphire covers in 2015, DigiTimes Research says
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06:20 EDTAAPLApple plans to warn users of attempts to hack iCloud, WSJ reports
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06:15 EDTAAPLAvago price target raised to $100 from $90 at Citigroup
Citigroup raised its price target for Avago (AVGO) shares to $100 citing increased confidence in the company's wireless content gains after meeting with management. Citi believes Avago will likely double its dollar content in Apple's (AAPL) iPhone 6 when compared to the iPhone 5S. The firm reiterates a Buy rating on Avago, calling the stock its top specialty semi pick. The stock closed yesterday up 70c to $86.09.
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