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Stock Market & Financial Investment News

News For C;AAPL;T;AKAM From The Last 14 Days
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October 28, 2014
13:10 EDTTAT&T sued by FTC for 'misleading' smartphone customers on data speeds
The Federal Trade Commission filed a federal court complaint against AT&T Mobility, LLC, charging that the company has misled millions of its smartphone customers by charging them for “unlimited” data plans while reducing their data speeds, in some cases by nearly 90%. The FTC’s complaint alleges that the company failed to adequately disclose to its customers on unlimited data plans that, if they reach a certain amount of data use in a given billing cycle, AT&T reduces – or “throttles” – their data speeds to the point that many common mobile phone applications – like web browsing, GPS navigation and watching streaming video – become difficult or nearly impossible to use. According to the FTC’s complaint, AT&T’s marketing materials emphasized the “unlimited” amount of data that would be available to consumers who signed up for its unlimited plans. The complaint alleges that, even as unlimited plan consumers renewed their contracts, the company still failed to inform them of the throttling program. When customers canceled their contracts after being throttled, AT&T charged those customers early termination fees, which typically amount to hundreds of dollars. The FTC alleges that AT&T, despite its unequivocal promises of unlimited data, began throttling data speeds in 2011 for its unlimited data plan customers after they used as little as 2 gigabytes of data in a billing period. According to the complaint, the throttling program has been severe, often resulting in speed reductions of 80%-90% for affected users. Thus far, according to the FTC, AT&T has throttled at least 3.5 million unique customers a total of more than 25 million times.
13:08 EDTTFTC sues AT&T for 'deceptive and unfair data throttling'
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13:07 EDTAAPLNXP Semiconductors seen as beneficiary if Apple, Alibaba strike deal
Chip maker NXP Semiconductors (NXPI) would benefit significantly if Apple (AAPL) teams up with China's Alibaba (BABA) on a mobile payment system, research firm Sterne Agee wrote in a note to investors today. Alibaba founder Jack Ma and Apple CEO Tim Cook reportedly suggested last night that such a tie-up could occur. WHAT'S NEW: Alibaba founder Jack Ma said he's willing to collaborate with Apple regarding their mobile payment services, according to Reuters. Noting that Cook had suggested that there could be "a marriage" between Apple's mobile payment system, Apple Pay, and Alibaba's mobile payment system, Alipay, Sterne Agee analyst Vijay Rakesh wrote that such a deal would boost NXP Semiconductors, whose chips power NFC in Apple's iPhone 6 and 6 Plus. Alipay has a 70% share of the mobile payments market in China with about 550M users, Rakesh estimated. A deal between Apple and Alibaba would open up the China market to NXP Semiconductors and stimulate additional "domino effect" growth for NXP, the analyst stated. Raskesh reiterated his previous contention that the proliferation of mobile payment systems could increase NXP's EPS by 35c-70c per year by 2017, assuming that 50% of smartphones have mobile payment systems by that year. The analyst kept an $82 price target and Buy rating on NXP Semiconductors; shares. WHAT'S NOTABLE: A number of U.S. retailers, including CVS (CVS), Rite Aid (RAD), Wal-Mart (WMT), and Best Buy (BBY) have reportedly decided not to accept Apple Pay at this time. Cook countered yesterday that many other companies plan to utilize the system and indicated that the tech giant would look to expand the system to overseas markets. PRICE ACTION: In early afternoon trading, NXP Semiconductors rose 1.3% to $66.64. Meanwhile, Apple added 1.3% and hit a 52-week high of $106.50 and Alibaba gained 2% to $99.83.
12:56 EDTAAPLGT Advanced says litigation against Apple would be 'expensive,' WSJ reports
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11:56 EDTAAPLT-Mobile sees iPhone supply issues lasting through Q4
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10:34 EDTTAT&T management to meet with Oppenheimer
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09:37 EDTC, AAPLActive equity options trading
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09:37 EDTAAPLNXP Semiconductors would benefit from Apple, Alibaba deal, says Sterne Agee
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06:56 EDTAAPLWal-Mart rejecting Apple Pay for consumer 'best interests', Business Insider say
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06:44 EDTAAPLApple warns of 'event' that would cause people to think about privacy, BI says
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06:42 EDTAAPLMore than 1M credit cards registered on Apple Pay, Re/code says
More than 1M credit cards were registered on Apple's Apple Pay mobile payment system in the first 72 hours after the system was launched, Apple CEO Tim Cook said, according to Re/code. NXP Semiconductors (NXPI) and VeriFone (PAY) have been identified as other companies that could benefit from Apple Pay. Reference Link
06:38 EDTAAPLApple says Apple Pay in 220,000 locations already, Business Insider reports
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06:35 EDTAAPLAlibaba founder says willing to collaborate with Apple on payments, Reuters says
Alibaba (BABA) founder Jack Ma said he's willing to collaborate with Apple (AAPL) regarding their mobile payment services, according to Reuters, citing comments from Ma at a conference. Alibaba's Alipay is China's biggest payment service while Apple Pay was launched earlier this month. Reference Link
06:16 EDTAAPLT-Mobile CEO: iPhone 6 Plus selling at better clip than expected, Re/code says
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06:05 EDTAAPLApple head responds as retailers bar Pay service, Reuters says
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October 27, 2014
16:00 EDTAAPLOptions Update; October 27, 2014
iPath S&P 500 VIX Short-Term Futures down 52c to 32.66. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
13:03 EDTAAPLCVS says 'cannot accept' Apple Pay at this time, CNBC says
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10:32 EDTAAPLVeriFone rises after Barron's says Apple Pay positive for company
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10:14 EDTAAPLApple, Cubic in talks for new uses for NFC, The Information reports
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09:37 EDTAAPL, CActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR TWTR AMZN M NQ GILD C FB NFLX
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