Apple fluctuates ahead of big event, DowDuPont breakup plan changes, Teva sells contraceptive brand
Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Apple (AAPL) shares fluctuated between gains and losses in early trading as the tech giant is expected to unveil the much-hyped iPhone X model and other products at 1 p.m. EST at its new Cupertino, California, campus. The stock is up about 40% so far this year, and analysts are anticipating that the new iPhone will create an upgrade “supercycle.”
Newly merged DowDuPont (DWDP) stocks were moving higher on Tuesday. The chemical giant announced it will be moving $8 billion worth of sales from material science to specialty chemicals. The change comes after extreme pressure from shareholders to alter how the company is split. DowDupont says the shift will allow the two companies to focus on different customers.
Teva Pharmaceutical Industries (TEVA) is grabbing headlines once again. Shares of the debt-laden generic drug maker soared in early trading following news that it’s selling its contraceptive brand Paragard to Cooper Cos. for just over $1 billion. The sale falls in line with the company’s plan to shed its non-core assets to pay off its debt. The stocks surged on Monday after Teva announced a new CEO and president.
Travelers (TRV) shares were slightly lower in early trading. The insurance company says it’s putting its stock buyback program on hold as it assesses losses from Hurricanes Harvey and Irma. Travelers is expecting losses to be anywhere between $375 to $750 million pre-tax.
Investors continue to monitor Equifax (EFX). Standard and Poor’s is lowered the credit reporting agency’s outlook to negative from stable following its massive data breach. But S&P did maintain its Triple B plus rating on Equifax’s corporate debt, saying despite substantial uncertainty, Equifax has a strong core and will be able to ride out the recent hack.
