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Fly News Breaks for March 20, 2017
Mar 20, 2017 | 08:42 EDT
Cowen analyst Timothy Arcuri raised his price target on Apple to $155 from $135 as he believes Street estimates remain way too low. He sees an aging iPhone base, especially in China, that should lead to a powerful launch of the iPhone 8. In addition to Street estimates having to come up, Arcuri also sees the potential for additional multiple expansion. Arcuri reiterated his Outperform rating on Apple shares.
News For AAPL From the Last 2 Days
Aug 14, 2017 | 16:23 EDT
Stocks opened sharply higher and remained there throughout the entire. The market spent the opening hour drifting higher and when it finally found its level, it proceeded to move in a narrow trading range for several hours. With the market's advance, it put it back into positive territory for the month. The market is coming off its worst weekly performance and with its losses of roughly 1.5%, the dip was seen as a buying opportunity for investors looking to pick up perceived bargains. The move was broad based with equity market internals decidedly positive but with the oil sector under pressure and losing almost 2.0% of its value. ECONOMIC NEWS: In the U.S., the Treasury announced a $35B 4-week bill sale for Tuesday, a $10B cut from the $45B amount that was in place for the last four auctions. COMPANY NEWS: Following the violent rally in Charlottesville, Virginia over the weekend, shares of drug giant Merck (MRK) were in focus after chairman and CEO Kenneth Frazier announced his resignation from President Trump's American Manufacturing Council. In a statement, Frazier said that "as a matter of personal conscience," he feels as "responsibility to take a stand against intolerance and extremism." Shortly after the Merck executive announced the move, Trump responded by tweeting that, now that Frazier had resigned from the council, he will have more time to "LOWER RIPOFF DRUG PRICES!"... Meanwhile, Reuters reported that Neo-Nazi website The Daily Stormer had moved its domain registration to Google (GOOG) after prior host GoDaddy (GDDY) said it would cut ties with the site that promoted the rally in Charlottesville. A Google spokesperson later told CNBC that the internet giant had canceled The Daily Stormer's registration. GoDaddy shares rose 1.9% after the move... In earnings news, shares of Sysco (SYY) fell about 1% after the company reported quarterly earnings mostly in line with analysts' estimates. In slides that were presented on its quarterly earnings call, the company noted that it sees inflation continuing for the balance of calendar year 2018... In addition, CNBC reported that Apple (AAPL) and Aetna (AET) held secret talks last week to negotiate bringing free or discounted Apple Watches as a perk to the insurers 23M members. MAJOR MOVERS: Among the noteworthy gainers was Neff (NEFF), which advanced 19% after it received a "superior proposal" for an acquisition of the company for $25 per share in cash. The company noted that its board hasn't changed its recommendation in support of the previously agreed upon merger with H&E Equipment Services (HEES), whose shares slipped about 3% after the news. Also higher was Fiat Chrysler (FCAU), which gained 8.5% in New York after Automotive News reported that representatives of a Chinese car maker made a bid to purchase the company at a "small premium" over its market value. The report noted that the offer was rejected for not being high enough. Among the notable losers was Zynerba (ZYNE), which fell 8.7% after its Phase 2 STOP trial failed to meet its primary endpoint. Also lower was (JD), which slid 3.6% after it reported quarterly results. INDEXES: The Dow rose 135.12, or 0.62%, to 21,993.44, the Nasdaq gained 83.68, or 1.34%, to 6,340.23, and the S&P 500 advanced 24.46, or 1%, to 2,465.78.
Aug 14, 2017 | 13:23 EDT
Apple (AET) and Aetna (AET) held secret meetings last week to negotiate bringing free or discounted Apple Watches as a perk to the insurer's 23M members, CNBC reports, citing three people familiar with the matter. Shares of Aetna moved higher following the story and are up 2% to $155.28 in afternoon trading. Reference Link
Aug 14, 2017 | 13:02 EDT
Inventec subsidiary Inventec Appliances will start to ship Apple's (AAPL) smart speaker HomePod later this year, likely in Q4, Nikkei Asian Review reports, citing market sources.Inventec Appliances currently monopolizes orders for the HomePod and AirPod, Apple's wireless earbuds, but is expected to split HomePod orders with Hon Hai Precision Industry (HNHPF), better known as Foxconn, in 2018. Reference Link
Aug 14, 2017 | 07:35 EDT
Notable call activity was cited Friday in Apple (AAPL), Micron (MU), Kroger (KR), Dow Chemical (DOW), Canadian Solar (CSIQ), Norwegian Cruise Line (NCLH), MiMedx (MDXG), Red Hat (RHT), Autohome (ATHM), and Dentsply Sirona (XRAY).
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