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Currency Event: Yen Falls Below 100 Per Dollar; Can Icahn Offer Compute?

Dan Berman
Hot Stock Minute
Currency Event: Yen Falls Below 100 Per Dollar; Can Icahn Offer Compute?

Call it a currency event. The yen is now weaker than the penny. As of this morning, the Japanese currency is trading at 101 to the dollar. Yahoo! Finance Senior Columnist Mike Santoli talks about the significance of the move in the video above.

Carl Icahn is again trying to make a takeover of Dell (DELL) compute. The activist investor has submitted a new offer for Dell along with Southeastern Asset Management. Under the plan, stockholders would get $12 for each share, which they could either take in cash or company stock. They would also have the option to retain existing shares. Company founder Michael Dell and Silver Lake Management have offered $13.65 a share in a proposal that Icahn says is undervalued.

Amazon (AMZN) may be trying again to crush or at least bruise Apple (AAPL). The online shopping giant is now said to be working on a high-end smartphone. Its most unique feature is likely to be a screen that shows things in 3D. Amazon remains an online marketplace at its own core, but the company has jumped deeper into hardware manufacturing most notably with its Kindle tablets.


Ubiquiti Networks (UBNT) has been up more than 20% in response to its earnings report. The company beat on both the top and bottom lines posting earnings of 24-cents a share on revenue of $83-million. Ubiquiti is a California-based company that makes equipment for wireless networks. It also gave an outlook for the current quarter which topped estimates. With the rise we've been seeing since yesterday afternoon, Ubiquiti is now trading at about two-thirds of its 52-week high which it set exactly one year ago.

Next up is Molycorp (MCP), which says unchanged here but has moved about 9% higher over on the NYSE. This is a mining company that specializes in rare-earth products. It's based in Colorado. Molycorp posted narrower-than-expected losses yesterday afternoon, coming in with negative 15-cents a share when consensus was for negative 31-cents. It also beat on revenue by nearly 10%. It has been a rocky year for the company, with shares down 46% prior to this climb.

Now a stock everyone's heard of: Gap (GPS). Shares have been up a lucky 7% since yesterday's close. Seven percent is also the amount the chain says its same-store-sales rose in April. The company also says it expects to post earnings more than 15% higher than expectations. The Gap is now at its 52-week high having climbed more than 25% since the start of 2013.

Finally there's Priceline (PCLN) which has been down nearly 3% in early trading on the NASDAQ. The dip follows earnings in which the company beat the street making $5.76 a share, almost 50-cents higher than expectations. But the discount travel giant says it expects profits to fall in the current quarter because of global expansion costs. Among other things the company is in the process of buying kayak.com. The company has pretty much performed in line with the market, up 15% this year.