Apple to make iPhones in India, Mylan recalls EpiPens overseas, Amazon eyes Middle East retail site
Here are some of the stocks the Yahoo Finance team will be watching for you today.
The retail sector remains in focus this morning. Five Below (FIVE) shares soared in early trading after the discount retailer reported a slight beat on earnings for the holiday quarter. While revenue missed estimates, sales jumped nearly 19% from a year ago, and the company said it plans to open about 100 new stores this year.
Amazon (AMZN) is also on investors’ watch list this morning after reports surfaced once again that the US e-commerce giant is close to buying the Middle East’s largest online retail site, Souq.com. This comes after talks between the two companies broke down in January, according to Reuters.
Apple (AAPL) is doing some shopping as well. The tech giant is buying Workflow, a popular mobile app for automating tasks. Workflow allows users to string a series of repetitive actions together to make them easier and quicker to accomplish, such as creating GIFs from photos or posting photos on various social media platforms. The terms of the deal were not disclosed. Separately, the Wall Street Journal reported that Apple will begin manufacturing iPhones in India over the next couple of months as it looks to gain a foothold in world’s second-largest smartphone market.
Mylan (MYL) shares may be on the move today. The generic drugmaker recalled about 81,000 EpiPens outside the US following two reports that the emergency allergy shot failed to work and the patients had to use an alternate treatment. The recall only affects devices distributed in Australia, New Zealand, Japan and Europe.
