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Fly News Breaks for September 13, 2017
AAPL
Sep 13, 2017 | 07:20 EDT
UBS analyst Steven Milunovich said Apple shares are performing in-line with the stock's history after the company conducted its product launch presentation - down into the event and up or down a bit the day of the event. Historically, what happens next is the stock will be down for a few weeks before moving up heading into earnings. The analyst admitted there were few surprises but the event was still impressive and he said the product pricing, which he views as pushing the envelope, was higher than he expected. Milunovich reiterated his Buy rating and $180 price target on Apple shares.
News For AAPL From the Last 2 Days
AAPL
Sep 23, 2017 | 09:25 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. HEALTHCARE: On Wednesday, a spokesman for Senate Majority Leader Mitch McConnell said he intends to consider the Graham-Cassidy healthcare bill on the Senate floor next week, according to The Wall Street Journal. The same day, President Trump tweeted, "Rand Paul is a friend of mine but he is such a negative force when it comes to fixing healthcare. Graham-Cassidy Bill is GREAT! Ends Ocare!...I hope Republican Senators will vote for Graham-Cassidy and fulfill their promise to Repeal & Replace ObamaCare. Money direct to States!" However, on Friday, Republican Senator John McCain of Arizona voiced his opposition to the Graham-Cassidy bill, stating, "I believe we could do better working together, Republicans and Democrats, and have not yet really tried." This blow from McCain, who also cast the deciding vote in defeating a prior "skinny repeal" effort, gives the Graham-Cassidy legislation much slimmer chances of passing. Publicly traded companies in the healthcare insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). 2. GUN MAKERS: On Tuesday, Reuters reported that aides to President Donald Trump are looking to shift oversight of international non-military gun sales from the State Department to the Commerce Department as part of a bid to make it easier for U.S. gun makers to sell small arms to foreign buyers. Following the report, shares of American Outdoor Brands (AOBC), the parent of Smith & Wesson, and Sturm Ruger (RGR) jumped. 3. DACA: Wal-Mart (WMT), Pepsi (PEP) and Target (TGT) have joined a group of nearly 800 companies calling for the U.S. to pass a permanent replacement for DACA, Reuters reported, citing organizer FWD.us. A group of businesses, including Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN), sent a similar letter in August, before President Trump announced plans to wind down the program. Both letters were spearheaded by FWD.us, a pro-immigration group co-founded by Facebook (FB) CEO Mark Zuckerberg. 4. U.S ELECTIONS: The congressional investigation on Russia's role in the 2016 presidential election could bring companies like Twitter (TWTR), Google (GOOGL) and more into the mix, according to a report by Recode on Thursday. Senator Mark Warner is fearful that Russian agents could have used bots to extend their message on Twitter and other websites. Warner is also concerned about the way Google's search results related to the 2016 election appeared. While neither of the companies have been officially requested to testify, Warner told Recode that it is to be determined. The same day, Facebook explained why it has decided to share ads with Congress amid the election probe. "As our General Counsel has explained, this is an extraordinary investigation - one that raises questions that go to the integrity of the US elections. After an extensive legal and policy review, we've concluded that sharing the ads we've discovered with Congress, in a manner that is consistent with our obligations to protect user information, will help government authorities complete the vitally important work of assessing what happened in the 2016 election. That is an assessment that can be made only by investigators with access to classified intelligence and information from all relevant companies and industries - and we want to do our part. Congress is best placed to use the information we and others provide to inform the public comprehensively and completely," the company said. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
AAPL
Sep 22, 2017 | 16:22 EDT
The major averages finished the day little changed and on a weekly basis they were mixed. The Dow saw a small weekly advance, the S&P was nearly flat and the Nasdaq suffered under the weight of Apple (AAPL), which had a rough week as reviews came out for its new iPhone 8 and Watch and the products hit stores. However, the biggest of Apple's new products, the iPhone X, is still awaited, keeping a lid on any buying frenzy that may be ahead. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing PMI for September edged up 0.2 points to 53.0, matching the consensus forecast. The services PMI fell to 55.1, however, which was down 0.9 points from the last reading and below the 55.8 that was expected. In Europe, the composite PMI hit 56.7, with the manufacturing component reading of 58.2 and services component reading of 55.6 both topping expectations. COMPANY NEWS: Shares of a number of health insurers moved higher after Republican Senator John McCain of Arizona voiced his opposition to the Graham-Cassidy bill to repeal and replace the Affordable Care Act. In his statement, McCain stated: "I believe we could do better working together, Republicans and Democrats, and have not yet really tried." While some of the largest names in the space, including UnitedHealth (UNH), Aetna (AET), Anthem (ANTM) and Cigna (CI), did not see significant gains for the day, they all closed off their earlier session lows as this blow gives the legislation much slimmer chances of passing... Shares of First Solar (FSLR) advanced 5.4% after the International Trade Commission determined that silicon solar power cells being imported into the U.S. present a serious injury, or threat of injury, to the domestic industry. As a result, the ITC's investigation will move to a remedy phase, after which tariffs may be set on imported solar products... Apple slipped another 1% today as the iPhone 8 started appearing on the shelves of the company's retail stores. Compared to prior years, however, this isn't resulting in long lines, presumably because many buyers are still waiting for the company's high-end iPhone X. MAJOR MOVERS: Among the notable gainers was Finish Line (FINL), which gained 5.5% after the company reported quarterly earnings that were in-line with expectations. Also higher was Ascendis Pharma (ASND), which gained 23.4% after its competitor, Versartis (VSAR), reported that its Phase 3 trial testing a long-acting growth hormone as a treatment for pediatric growth hormone deficiency failed. Versartis, whose management reportedly indicated there was no path forward with this trial and no current plans for an additional trial, was downgraded by multiple research firms and the stock plunged 87.62%. Also lower was Intercept Pharmaceuticals (ICPT). Following a 25% decline yesterday, the stock fell another 16.4% to $61.59 today as several more analysts cut their price targets and ratings on the drugmaker in the wake of a "Dear Doctor" last week and an FDA communication yesterday that both contained warnings that Ocaliva could result in increased risk of serious liver injury and death. INDEXES: The Dow fell 9.64, or 0.04%, to 22,349.59, the Nasdaq gained 4.23, or 0.07%, to 6,426.92, and the S&P 500 advanced 1.62, or 0.06%, to 2,502.22.
AAPL
Sep 22, 2017 | 12:51 EDT
Stocks on Wall Street were lower at midday, but not by much, as the market mostly shook off a new set of threats from North Korea. On the economic front, the first look at PMI data for September was mixed, with Europe posting strong numbers and the U.S. figures less inspiring but not bad either. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing PMI for September edged up 0.2 points to 53.0, matching the consensus forecast. The services PMI fell to 55.1, however, which was down 0.9 points from the last reading and below the 55.8 that was expected. In Europe, the composite PMI hit 56.7, with the manufacturing component reading of 58.2 and services component reading of 55.6 both topping expectations. COMPANY NEWS: Shares of First Solar (FSLR) advanced over 6% after the International Trade Commission determined that silicon solar power cells are being imported into the U.S. in such quantities that present a serious injury, or threat of injury, to the domestic industry. As a result, the investigation will move to a remedy phase, after which tariffs may be set on imported solar products... Apple (AAPL) is falling another 1% today as the iPhone 8 starts appearing on the shelves of the company's retail stores. Compared to prior years, however, this isn't setting off a frenzy or resulting in long lines, presumably because many buyers are still waiting for the company's high-end iPhone X. MAJOR MOVERS: Among the notable gainers was Finish Line (FINL), which gained 7% after the company reported quarterly earnings that were in-line with expectations. Also higher was Ascendis Pharma (ASND), which gained 29% after its competitor, Versartis (VSAR), reported that its Phase 3 trial testing a long-acting growth hormone as a treatment for pediatric growth hormone deficiency failed. Versartis, whose management reportedly indicated there was no path forward with this trial and no current plans for an additional trial, was downgraded by multiple research firms and the stock plunged 86%. Also lower was Wayfair (W), which has slid 8% after short seller Citron Research highlighted on Twitter an academic paper on the company's valuation. Citron has made cautious reports about Wayfair in several previously published reports. INDEXES: Near midday, the Dow was down 29.89, or 0.13%, to 22,329.34, the Nasdaq was down 3.70, or 0.06%, to 6,419.00, and the S&P 500 was down 1.46, or 0.06%, to 2,499.14.
AAPL
Sep 22, 2017 | 09:42 EDT
Northland analyst Tom Spenzis said Apple (AAPL) is experiencing connectivity issues with its new voice-enables cellular Watch along with battery drain with LTE radios, which could lead to increased adoption of Sequans (SQNS) CAT M radios.
AAPL
Sep 22, 2017 | 09:40 EDT
Unusual total active option classes on open include: Banco Santander (SAN), ILG Inc (ILG), L Brands (LB), Cliffs Natural (CLF), First Solar (FSLR), AK Steel (AKS), Equifax (EFX), Apple (AAPL), US Steel (X), and Citi (C).
AAPL
Sep 22, 2017 | 07:14 EDT
Google (GOOG, GOOGL) was planning to make a multi-million pound donation to London's Garden Bridge project, but plans for the project were dropped last month following increased opposition from local campaigners, the Financial Times reports, citing project documents. The documents, which show Apple (AAPL) may have been interested in sponsoring the project if it was allowed to build a retail store on the bridge, said "confidential companies" had made two payments of GBP2M, as well as larger sums of GPB5M and GBP10M. Reference Link
AAPL
Sep 22, 2017 | 06:52 EDT
In a research note titled "While You Were Sleeping, iPhone 8 Launched in Various Regions," Citi analyst Jim Suva says his firm's s global team reviewed in-store launches and ship times for iPhone 8 and iPhone 8 Plus across Australia, Japan and Asia. His overall conclusion is that customers are likely waiting for iPhone X, which is not expected to be available until November 3. Current ship times are quicker and lines shorter for the iPhone 8 than prior launches, which is not surprising as users will wait to compare to iPhone X before making a final purchase, Suva tells investors in a research note. The analyst remains positive on Apple shares with a Buy rating and $170 price target. The iPhone maker is down 84c to $152.55 in premarket trading after declining 2% yesterday.
AAPL
Sep 22, 2017 | 05:36 EDT
The combination of a higher priced iPhone 8 relative to the iPhone 7 and launch of iPhone X should result in a year-over-year average selling price uplift for Apple, Piper Jaffray analyst Michael Olson tells investors in a research note. The analyst now models an iPhone average selling price in fiscal year 2018 of $710, above the consensus at $696. Despite potential for iPhone 8 to see a short-term negative impact from customers waiting for iPhone X, investors should own Apple on potential for a strong overall iPhone cycle, Olson writes. He raised his price target for the shares to $196 from $190 and maintains an Overweight rating on the name. Apple closed yesterday down $2.68 to $153.39.
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