Bill McColl at Hot Stock Minute 5 days ago
Sony attorney David Boies has sent a letter to Twitter saying it will be held responsible for users who post what is described as “stolen” material. The letter is similar to one Boise sent to news organizations last week.
Yahoo Finance Senior Columnist Michael Santoli says it an effort by Sony to put a lid on the leaks.
“The main argument is this is stolen, private information, and it’s not allowed according to Twitter rules to share someone else’s private information,” he notes. “So Boies obviously wants to have a chilling effect here and say let’s try to discourage people from sharing a lot more of this detail.”
Santoli believes this is a murky legal issue.
But Santoli believes this is an issue worth debating.
Keurig shares fall after recall; Walgreen jumps on strong profits; Family Dollar delays votes on Dollar Tree buyoutKathy Cherpelis at Hot Stock Minute 5 days ago
Some stocks to keep an eye on this morning.
Greek related shares (GREK) are in focus this morning after the country's lawmakers failed to elect a new president in a second round of voting. If the Greek parliament doesn't appoint a president next week, a general election must be held by early February.
Bristol-Meyers Squibb (BMY) shares were higher in early trading. The Food and Drug Administration approved the company's skin cancer treatment for patients with advanced melanoma who no longer respond to other drugs.
The long-running takeover drama in the discount retail space is not over yet.
Yahoo Finance at Hot Stock Minute 5 days ago
The Dow (^DJI) topping the 18,000 mark for the first time and the S&P 500 (^GSPC) is moving further into record territory this morning as investors applaud a stronger-than-expected reading on third quarter Gross Domestic Product.
The U.S economy grew at its fastest pace in 11-years in Q3. The Commerce Department revised up its estimate of GDP to 5% from 3.9%.
Yahoo Finance Senior Columnist Michael Santoli says a spurt of activity from consumers helped drive the economy in the third quarter.
“It does show you that the consumer was in pretty good shape in the back half of the summer and fall, too.”
Santoli doesn't believe today's GDP figures will change the Fed's thinking on interest rates because measured inflation is not actually making any noise at all. But it does confirm the Fed's view that the economy was going to operate in a higher gear, he says.
However, Santoli warns we've seen these false starts in the economy before, like what we saw in the housing market.
Bill McColl at Hot Stock Minute 6 days ago
It’s a decision that could have far-reaching implications for the pharmaceutical industry.
Express Scripts (ESRX), the nation’s biggest pharmacy benefits manager, says it will only cover AbbVie’s just-approved drug, Viekira Pak, for most patients with hepatitis C. That leaves out Gilead Sciences’ (GILD) Sovaldi and Harvoni, as well as Johnson & Johnson’s (JNJ) Olysio. The reason: AbbVie’s treatment costs less. In a statementExpress Scripts says the decision brings added value to those covered by its National Preferred Formulary-- about 25 million people.
Yahoo Finance Editor in Chief Aaron Task says it’s all about money…and possibly some fortuitous timing.
Task warns challenging drug companies about the cost of their products is a double-edged sword.
AbbVie gets boost from Express Scripts; American Apparel confirms a suitor; Sony may release 'The Interview'Kathy Cherpelis at Hot Stock Minute 6 days ago
Some stocks to watch this morning.
A win for AbbVie (ABBV). Shares of the drug company shot-up ahead of the bell after the nation's largest pharmacy benefits manager Express Scripts (ESRX) said it will only cover AbbVie's newly approved hepatitis C treatment starting the new year rather than rival medicines from Gilead Sciences and Johnson & Johnson (JNJ). Shares of Gilead Sciences (GILD) were sharply lower on the news.
Elsewhere in the drug industry, shares of BioCryst Pharmaceuticals (BCRX) soared in the pre-market. The Food and Drug Administration approved its intravenous flu treatment. The drug is for adults with acute uncomplicated influenza and who may be unable to swallow pills.
Stocks extend last week's rally; Express Scripts picks AbbVie drug; Sony attorney says 'The Interview' will get outYahoo Finance at Hot Stock Minute 6 days ago
Wall Street is still full of holiday cheer this morning as investors continue their buying spree. Stocks are higher after a big three-day rally last week.
“Santa Claus is coming to town for the bulls,” at least for now says Yahoo Finance editor in chief Aaron Task.
“The hope for the week is that it is kind of quiet and we get a slow drift upwards, the thing about holiday- shortened weeks there is less volume and that could lead to more volatility,” according to Task.
Oil erased early morning gains and is now lower. Saudi Arabia's oil minister Ali al-Naimi said OPEC would not cut output and was confident lower crude prices would help demand by giving a boost to the economy.
Related: Express Scripts shakes up big pharma
Kathy Cherpelis at Hot Stock Minute 9 days ago
$1,000,000,000,000. One Trillion Dollars.
No American company has ever had a market cap with that many zeroes in it. Does Apple - already the world’s most valuable company - have a chance of hitting the trillion dollar milestone next year?
Apple shares are already up more than 40% since the beginning of the year with sales of the iPhone 6 and iPhone 6 Plus surpassing expectations. IPhone sales overall in the third quarter nearly topped 40 million and the holiday season is looking strong. The company expects to sell more this Christmas quarter than in the whole of 2010.
Still, Yahoo Finance Technology Reporter Aaron Pressman says it’s not enough to get to $170 a share, which is roughly where the stock would need to trade to have a trillion dollar market cap.
“Even if iPhone sales really boom this year, you’re still short of the $170 unless there’s some other add on business. So you have to look at the watch or Apple Pay or maybe something we haven’t imagined yet.”
Pressman’s not convinced the watch will do the trick.
Bill McColl at Hot Stock Minute 9 days ago
Recently-ousted American Apparel (APP) CEO and founder Dov Charney apparently will not go gentle into that good night.
The New York Post reports Charney is working with a private equity firm looking to buy the teen clothing retailer. The paper says it’s one of multiple takeover bids the company has received in recent weeks.
American Apparel’s board officially gave Charney the boot earlier this week, citing “cause.” Board members suspended him back in June amid allegations of misconduct.
Yahoo Finance’s Jeff Macke spoke with Charney yesterday and feels he has a very good shot at winning the battle to get his old firm back.
“Dov Charney IS American Apparel,” he says. “And if you’re some private equity group that’s going to compete against the founder, the visionary, the guy who really defines this brand, you better have a really good plan. So I think Charney’s chances are very good.”
Newman believes it’s probably time for Charney to move on.
Kathy Cherpelis at Hot Stock Minute 9 days ago
Corporate results topping our list of stocks to watch this morning.
BlackBerry (BBRY) shares were sharply lower in early trading. The struggling smartphone maker reported a surprise profit in the third quarter, but a big miss on revenue. Sales were down more than 33% from a year earlier. BlackBerry has been trying to regain market share by rolling out new devices over the past year. In September, it debuted its Passport smartphone and just this week, the Classic.
CarMax (KMX) shares were firing on all cylinders. The used car dealership chain posted third quarter earnings and revenue that raced past Wall Street expectations. Sales were up 16% from a year earlier as it benefited from strong same-store sales growth.
Yahoo Finance at Hot Stock Minute 9 days ago
Stocks are struggling to keep the Fed induced two-day rally going on Wall Street despite a jump in crude prices.
The Dow (^DJI) and S&P 500 (^GSPC) putting in their best performance in more than three-years on Thursday as investors continued to bask in the glow of the Federal Reserve’s pledge to be “patient” about raising interest rates.
Yahoo Finance Editor in Chief Aaron Task says for now the mini-correction in stocks seems to be over.
“I would expect more of this kind of volatility as we start the new year, but for right now the bulls seem very much in control. The animal spirits are alive and well. And there was this pent up demand for an opportunity to buy stocks into year end...and we got it from the Fed on Wednesday,” Task points out.
Corporate results also dominating the headlines.
Related: BlackBerry bruised; CarMax in the fast lane; Nike stumbles