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News Breaks | | | | September 24, 2012 | | 12:06 EDT |  | AAPL, IP, PKG, RKT, QCOR, PPHM, VZ, TIVO, RMBS, LEN | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as a measure of German business confidence failed to improve in spite of the ECB's recent bond buying announcements. The averages opened lower, taking their lead from overseas markets which were also down. Worse than expected business confidence numbers in Germany and a lower than expected level of optimism among Chinese manufacturers was being attributed as factors in the early weakness. The market had little reaction to the domestic economic reports, which included the Chicago Fed National Activity index and the Dallas Fed Manufacturing index... ECONOMIC EVENTS: In the U.S., the Chicago Fed August national activity index fell to -0.87 from a revised -0.12 reading for July. The Dallas Fed September manufacturing survey edged up to -0.9 from -1.6 in August, but also remained in negative territory. In Europe, the Ifo business climate index in Germany fell to 101.4 in September from 102.3 in August, marking a fifth-straight monthly decline for the closely followed business confidence measure. Also, German officials denied reports that talks to leverage the assets of the European Stability Mechanism could give it more than $2.6T in firepower... COMPANY NEWS: Apple (AAPL) said it sold over 5M iPhone 5s during the first three days of availability, which came in below the expectations of many analysts but easily topped the 4M it sold during its last iPhone launch weekend... Shares of Home builder Lennar (LEN) declined about 2% in spite of its Q3 results beating expectations on both the top and bottom lines... Several containerboard stocks, including Rock-Tenn (RKT), Packaging Corp. (PKG) and International Paper (IP), rose for a second straight session after reports indicated that the companies successfully passed through a full $50/ton price increase in September... MAJOR MOVERS: Among the notable gainers were Rambus (RMBS), up 19% after a judge ruled the company's patents were valid and infringed by rival SK Hynix, and TiVo (TIVO), up over 3% after announcing a $250.4M payment in a settlement of a patent suit with Verizon (VZ). Among the noteworthy losers was Peregrine Pharmaceuticals (PPHM), down over 75% after disclosing "major" discrepancies in data from a trial of its bavituximab drug for the treatment of lung cancer. Also lower were shares of Questcor (QCOR), down 34% after being downgraded by at least six firms following its disclosure of a U.S. government investigation into the company’s promotional practices... INDICES: Near noon, the Dow was down 23.92, or 0.18%, to 13,555.55; the Nasdaq was down 22.16, or 0.70%, to 3,157.80; and the S&P 500 was down 4.24, or 0.29%, to 1,455.91. | |
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News For AAPL;RMBS;TIVO;VZ;PPHM;QCOR;RKT;PKG;IP;LEN From The Last 14 Days Check below for free stories on AAPL;RMBS;TIVO;VZ;PPHM;QCOR;RKT;PKG;IP;LEN the last two weeks. |
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| May 17, 2013 | | 16:47 EDT |  | VZ | Fitch affirms Verizon's IDR at 'A', outlook stable
 Subscribe for More Information | | | 16:00 EDT |  | AAPL | Options Update; May 17, 2013
Subscribe for More Information | | | 15:12 EDT |  | VZ | Focus on Verizon Wireless stake ahead of Vodafone earnings, Reuters says
Subscribe for More Information | | | 12:13 EDT | | AAPL | Samsung says S4 sales to reach 10M next week, Korea Times says
Subscribe for More Information | | | 12:01 EDT | | AAPL | iPad mini panel shipments from AUO expected to drop this quarter, DigiTimes says
AU Optronics' (AUO) shipments of panels for Apple's (AAPL) iPad minis are expected to sink to 2.5M-2.8M in Q2 from 4M in the first quarter, Taiwan-based supply chain sources stated, according to DigiTimes. Reference Link | | | 11:05 EDT | | AAPL | Apple devices approves for use on U.S. military networks, Bloomberg says
Subscribe for More Information | | | 09:57 EDT | | AAPL | Apple devices approved for use by Pentagon, Bloomberg reports
Subscribe for More Information | | | 09:37 EDT | | AAPL | Active equity option families trading on open
Subscribe for More Information | | | 07:33 EDT |  | IP, RKT | Paper & Packaging names likely to return cash to holders, says Jefferies
Jefferies expects names in the Paper & Packaging space to start returning cash to shareholders at a greater rate due to strong balance sheets and record free cash flow. The firm names International Paper (IP), RockTenn (RKT) and Owens-Illinois (OI) as best positioned to see higher share prices from more aggressive cash returns to shareholders. Jefferies says Crown Holdings (CCK), Graphic Packaging (GPK) and Owens-Illinois are likely to issue dividends. | | | 07:11 EDT | | AAPL | Apple to suggest tax reform for offshore cash, Bloomberg reports
Subscribe for More Information | | | | 06:50 EDT |  | VZ | Verizon initiated with an Overweight at Barclays
Target $59. | | | 06:43 EDT | | AAPL | Apple disputing government's e-book allegations, NY Times says
Apple (AAPL) is aggressively combating the U.S. government's contention that it pushed Amazon.com (AMZN) and publishers to raise e-book prices,The New York Times reported yesterday, citing court papers filed this week. Amazon and publishing companies were already looking to use a different pricing model before Apple joined the e-book business in 2000, the newspaper quotes Apple as stating. A trial over the Justice Department's lawsuit against Apple regarding e-book pricing is slated to start June 3, the newspaper noted. Reference Link | | | 06:41 EDT | | TIVO | TiVo implied volatility at upper end of index mean range
Subscribe for More Information | | | 06:12 EDT | | AAPL | Apple losing its edge as innovator, poll shows, Bloomberg reports
Subscribe for More Information | | | 06:06 EDT | | AAPL | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. | | | May 16, 2013 | | 14:01 EDT | | AAPL | Options Update; May 16, 2013
Subscribe for More Information | | | 13:05 EDT | | AAPL | Spending on Apple, Android video games jumped in Q1, AllThingsD says
In the first quarter spending on video games for Apple (AAPL) and Android devices increased significantly versus the previous quarter, while spending on video games for traditional handheld consoles fell meaningfully, research firms IDC and App Annie found, according to AllThingsD. Consumers spent three times more on games for smartphones and tablets than on games for traditional handheld consoles last quarter, the website stated. Reference Link | | | 10:20 EDT |  | AAPL | Apple reverses sharply higher after breaking below $420
Subscribe for More Information | | | 10:03 EDT | | AAPL | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Amazon.com (AMZN) initiated with a Buy at Lazard Capital... Apple (AAPL) initiated with a Neutral at Susquehanna... Churchill Downs (CHDN) initiated with a Buy at Brean Capital... Interpublic Group (IPG) initiated with an Overweight at Evercore... Monarch Casino (MCRI) initiated with a Buy at Brean Capital... Stillwater Mining (SWC) coverage resumed with an Outperform at Wells Fargo... Wabtec (WAB) initiated with an Overweight at Atlantic Equities... eBay (EBAY) initiated with a Buy at Lazard Capital... Dangdang (DANG) initiated with a Buy at BofA/Merrill... Coeur d’Alene Mines (CDE) coverage resumed with a Neutral at JPMorgan... ValueClick (VCLK) initiated with an Underperform at Northland Securities... Yelp (YELP) initiated with an Outperform at Cowen. | | | 09:44 EDT | | AAPL | Apple falls in early trading, levels to watch
The shares are down over 1.6% to $420.77. At that price, next support is at $419.85. Resistance is at $424.85. Among issues that could be contributing to the price decline are continued cutting of postions by hedge funds long the stock, a news item that Apple and its supplier Foxconn are violating work-hour laws in China, and a U.S. Senate inquiry into its treatment of taxes and non-patriated foreign profits. | | |
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