Posts by Jennifer Carinci
Jennifer Carinci at Breakout 3 yrs ago
Apple (AAPL) sure had “a lot to cover” in its latest product event at Yerba Buena Center for the Arts Theater in San Francisco on Tuesday. Shares swung between positive and negative territory before closing lower by 0.3%. This after unveiling two new iPads -- an updated Mini and a full-sized iPad Air, which is thinner and lighter than the original. The new iPad Air is set to go on sale on November 1st and the new Mini will go on sale later in November.
Apple also revealed a line-up of new MacBook pro laptops and Mac Pro desktops, as well as the new operating system OS X Mavericks and 20 app updates that are available now to download for free.
Breakout spoke with millennial investor Brian Sozzi, CEO & chief equities strategist at Belus Capital Advisors, to figure out how Apple could win over our generation for decades to come. Here are three keys to the millennial heart.
1. Save us money
2. Smaller, lighter products
3. Give us toys!
Jennifer Carinci at Breakout 3 yrs ago
In an 11th-hour agreement, Senate leaders announced they reached a short-term deal to reopen the government and raise the Treasury's debt limit. Timing of the votes in both the Senate and House are still being worked out. Here are the details of the plan we know so far:
*Bill would fund federal agencies at current spending levels through January 15th
*Borrowing authority would be extended through February 7th
*A committee would be established to address long-term fiscal solutions
Meanwhile, stocks rose across the board with all three major averages closing higher by over 1%.
The Yahoo Finance team along with top financial commentators sounded off on the deal ahead of the market close on Wednesday October 16th. That conversation can be found via Storify right here.
More from Breakout:
Stocks closed at session lows and volatility (^VIX) spiked after little progress was made to break the budget stalemate on Capitol Hill. The Dow (^DJI) and S&P 500 (^GSPC) both dropped over 1%. The tech-heavy Nasdaq (^IXIC) was hit hardest, falling 2% after a big sell-off in social media stocks (SOCL) dragged on the sector. Here are some of the worst performers: Facebook (FB) -6.7%, Netflix (NFLX) -5%, LinkedIn (LNKD) -6.1%, Pandora (P) -9%, Yelp (YELP) -7.8%, Yahoo (YHOO) -3.5%.
And stay tuned for House Speaker John Boehner, who's expected to release a statement in response to President Obama at 4:30p est.
Carl tweets again. This time it's about Talisman Energy (TLM), which is up 6% early this morning. The billionaire investor disclosed his position in a tweet, and also stated he "may have conversations with management re strategic alternatives, board seats, etc." According to a 13-D filing, Icahn's position represents a 5.97% stake in the oil and natural gas producer.
Jamba (JMBA) is feeling the consumer squeeze. Shares are down double-digits after cutting its outlook on fiscal 2013 and 2014. The company, which owns and franchises Jamba Juice stores, is blaming a slowdown in consumer spending and adverse weather conditions for taking a big bite out of same-store sales. They're now expecting flat to one-percent growth for company-owned stores this year. And they're expecting a 3.4% drop in same-store sales for the third quarter alone. Shares are down more than 12% over the last three months.
Stocks are down in early trading as the market awaits any sign of progress out of Washington on day eight of the government shutdown. Later today on Capitol Hill, Majority Leader Harry Reid is meeting with Senate Democrats to discuss a clean debt ceiling bill. Reid is planning to address the media later this afternoon.
A lone Republican is stepping up with a new plan. Republican Senator Rob Portman is circulating some ideas that could appeal to both parties. Under his proposal, which is said to be in early stages, the President would get a full year of government funding, the GOP would get across-the-board spending cuts, and he wants to include a deadline for Congress to rewrite the tax code by next year.
Global markets are starting to take notice of the lack of progress out of Washington, D.C. Japan's Nikkei (^N225) fell 1.2% and European markets closed mixed as the world watches the U.S. budget stalemate. Here at home, the major averages all dipped nearly 1%.
While the U.S. government has now been shuttered for seven days due to Congress' failure to reach a budget agreement, it's the debt ceiling that's front and center weighing on investors. The U.S. Treasury is running out of time and money to pay the bills. The U.S. Treasury expects to breach the $16.7 trillion debt limit on October 17th, but Republicans and Democrats are as far apart as ever. House Speaker John Boehner says he won't allow a vote on raising the debt ceiling without serious cuts to the budget.
Blackberry (BBRY) shares are up 4% as the company works the room. The former smartphone titan is now in talks with Cisco (CSCO), Google (GOOG), and SAP (SAP) about selling all or parts of the company, according to a Reuters report. Blackberry shares are down nearly 30% over the last one-month, despite reaching a preliminary agreement with Fairfax Financial several weeks ago, allowing the firm to take the company private in a $4.7 billion deal. However that bid is facing skepticism over their ability to finance the deal.
Finally one analyst says Apple (AAPL) is finally ripe for the picking. Shares are up 1% after Jefferies analyst Peter Misek upgraded the stock to "buy" from "hold" and raised the price target to $600. He says a trip to Asia last week where he met with suppliers indicated a "substantial shift in attitudes towards Apple."