|Bid||222.22 x 1000|
|Ask||222.28 x 800|
|Day's Range||222.00 - 222.67|
|52 Week Range||142.00 - 233.47|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||18.88|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||3.08 (1.40%)|
|1y Target Est||224.48|
Veteran businessman and former J.C. Penney CEO Ron Johnson is now the CEO of Enjoy, a mobile store company that helps bring the traditional shopping experience into the homes of consumers. Johnson joined The Final Round on Wednesday to give his thoughts on the state of retail, and where businesses like J.C. Penney have steered incorrectly.
Shares of Microsoft Corp. rose 1.3% to pace the premarket gainers among the Dow Jones Industrial Average's components, after the software behemoth announced an 11% dividend hike and approved a $40 billion stock repurchase program. Based on Wednesday's stock closing price of $138.52, the new annual dividend rate of $2.04 raises Microsoft's implied dividend yield to 1.47% from 1.33%, to leapfrog Apple Inc.'s yield of 1.38% into 25th place among the Dow's 30 components. Apple's stock edged up 0.1% ahead of the open. The premarket stock gains indicates Microsoft will stretch its lead as the largest U.S. company by market capitalization, which was $1.06 trillion as of Wednesday's close, above second-place Apple at $1.01 trillion.
Dow futures: The stock market rally held up after a Fed rate cut and Fed chief Jerome Powell's comments. Apple is a buy again. Microsoft rose late on a buyback. Will AT&T; sell DirecTV?
Apple Inc. and the Walt Disney Co. could have merged had Steve Jobs not died, Disney Chief Executive Bob Iger believes.
Huawei launched its Mate 30 smartphone range on Thursday in a challenge to Apple's new iPhone 11, saying the Chinese firm's new devices were more compact, their cameras superior and wraparound screens brighter. Huawei's top salesman Richard Yu showcased the Mate 30 Pro and Mate 30 phones at a glitzy event in Munich, Germany, its first unveiling of an all-new phone since President Donald Trump hit the Chinese company with an export ban in May..
Reports say HBO Max spent between $600 million up to “billions” for “The Big Bang Theory” in the streaming war of the reruns.
The retailer is offering a higher quality HD streaming service for 50 million songs, with digital sound quality similar to CDs.
(Bloomberg) -- The trade war is taking its toll on Apple Inc., a new survey of Chinese consumer attitudes shows.The company tumbled to No. 24 in an annual report on China’s top brands, falling from No. 11 a year ago. In 2017, before the trade war started, Apple was fifth in this ranking. Meanwhile, Apple’s biggest local rival, Huawei Technologies Co., climbed two spots and came in second, behind only Chinese payment service Alipay.The shuffle in the rankings is a sign of the growing challenge American brands face in the second year of Donald Trump’s tariff showdown with his Chinese counterpart, Xi Jinping. The survey findings show Chinese consumers growing cooler towards some American brands, especially after smartphone giant Huawei saw its Chief Financial Officer, Meng Wanzhou, arrested in Canada last year at the behest of the U.S. government.Trump followed with a ban on Huawei products, which helped fuel a surge of local support for the Shenzhen-based brand, according to Jay Milliken, senior partner in Hong Kong with Prophet, the San Francisco-based consultancy that conducted the survey of 13,500 Chinese consumers.Prophet’s survey, conducted annually, this year asked Chinese consumers in large cities for their views on more than 250 brands across 27 categories. Respondents evaluated brands they used or were considering using, rating rated their relevance to the lives of consumers based on qualities such as innovation, usefulness and dependability.‘Nationalistic Buying’“There’s a lot of nationalistic buying in that category, because Chinese consumers interpreted what happened to Huawei as an attack,” he said.Patriotism helped fuel the rise of other Chinese brands, too. Sportswear maker Li Ning Co. cracked the top 40 for the first time, ranked No. 34, just two spots behind market leader Nike Inc.Named after its founder, the famous gymnast, Li Ning capitalized on the nationalistic sentiments of many Chinese consumers with the launch last year of a China Li-Ning collection at New York Fashion Week that heavily used red and yellow, China’s national colors.There were only two American names in the top ten this year -- Android at No. 3 and Intel at No. 9 -- compared to five in the 2017 survey.Switching AllegiancesUnlike Apple, Android and Intel don’t have to worry about consumers switching allegiances to local competitors, Milliken said, and that explains why they manage to remain highly ranked.“Some Western brands are so integral in the lives of Chinese consumers, they’re almost predisposed to not losing relevance,” he said. “There are no Chinese alternatives so those remain super relevant.”Geopolitical tensions aren’t the only problem Apple faces in China, its biggest market after the U.S.While Beijing is pushing to make the country a leader in the introduction of high-speed 5G networks, Apple’s phones -- even the newly announced iPhone 11 -- don’t support that latest wireless standard.To contact the reporter on this story: Bruce Einhorn in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Emma O'Brien at email@example.com, Bhuma Shrivastava, Rachel ChangFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Apple officially launches its Arcade online gaming service that will allow subscribers to play more than 100 games curated by the tech giant for $4.99 a month.
(Bloomberg) -- Shenzhen Transsion Holdings Co., a Chinese handset maker largely unknown outside of Africa, has priced its initial public offering at double the valuation of Apple Inc.Transsion, whose mobile handsets outsell iPhone and Galaxy smartphones in Africa, is going public on Shanghai’s Nasdaq-style Star Board, setting its IPO at 35.15 yuan a share, implying a trailing earnings multiple of 42.8 times, according to a filing published on Wednesday.That compares with Apple’s 18.98 times and fellow rival Samsung Electronics Co.’s 9.92 times, according to data compiled by Bloomberg. Fellow Chinese smartphone maker Xiaomi Corp. is trading at 17.8 times estimated earnings for the next four quarters.Rich valuations are nothing new on the Star market, where regulators removed an unwritten valuation cap on companies going public that has led to some eye-popping multiples. Shenzhen Chipscreen Biosciences Co. set a record on the tech board with an IPO price that represented an earnings multiple of 467.51 times.Since founding the Tecno Mobile brand in 2006, founder Zhu Zhaojiang has overseen an expansion that now claims a 48.7% market share in Africa, according to a previous filing. Transsion shipped 94.44 million mobile phones to Africa in 2018, out of a total of 124 million global shipments.The sky-high valuations on the Star market have been met by equally elevated gains. Since it launched in the middle of this year, 29 companies have listed with an average surge of around 150% from their IPO prices, according to data compiled by Bloomberg.\--With assistance from Fox Hu and Ken Wang.To contact the reporter on this story: Julia Fioretti in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Lianting Tu at email@example.com, Teo Chian WeiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. stock futures pointed to a lower open for Wall Street after the Federal Reserve cuts U.S. rates for the second time this year; Apple Arcade launches Thursday; Datadog raises $648 Million in its initial public offering; AT&T; reportedly is looking to either spin off DirecTV or combine it with Dish.
Should investors consider buying Micron (MU) stock with the chipmaker set to report its quarterly financial results on Thursday, September 26?
Huawei launches what could be the world's most powerful and feature-packed 5G smartphone on Thursday, but the fate of the device in Europe will hang on whether it can overcome a U.S. ban to give customers the Google software they expect. The Chinese telecoms giant will showcase its Mate 30 range in Munich, Germany, in its first unveiling of an all-new phone since President Donald Trump hit the Shenzhen-based company with an export ban in May. Holding the launch in Europe underlines the importance of the region's 500 million consumers to Huawei.
Steve Dowling will step down after the end of next month after five years as VP and a decade as head of corporate public relations. He told employees that he plans to take time off and is apparently not moving to another job, Recode reported.
(Bloomberg) -- A California agency on Wednesday approved the first step in the plans of Virgin Trains USA to sell $4.2 billion in tax-exempt debt to build a high-speed train to Las Vegas from a desert town in southern California.The state’s Debt Limit Allocation Committee staff recommended that the company, backed by Fortress Investment Group’s private equity funds, receive half of its request for now, contingent on it submitting an economic development plan. Combined with an expected allocation from the federal government, a California agency would issue up to $3.2 billion of tax-exempt debt on the train’s behalf.The company in November will also ask Nevada to issue up to $800 million for the railroad, plus part of the federal allocation, so the company’s tax-exempt financing plans total $4.2 billion for the $4.8 billion project. Virgin Trains would be on the hook for debt payments, not the government agencies selling the bonds on its behalf.“Today’s approval is a major milestone in connecting Las Vegas and Southern California with intercity high-speed rail,” Ben Porritt, a spokesman for Virgin Trains, said in a statement after the vote. “This is a significant private investment that will generate thousands of new jobs, spark new mixed use and housing development and remove nearly 4.5 million cars off the road each year.”Virgin Trains, which in Florida launched the nation’s first privately-owned intercity passenger railway in more than a century, plans to lay tracks mainly along the median of Interstate 15 to Las Vegas from Apple Valley, California, 85 miles northeast of downtown Los Angeles. Construction will take three years and trains will run in 2023, the company said.Apple Valley and other officials from the San Bernardino County community known as Victor Valley at the meeting touted the project’s ambitions of sparking development.“It’s a regional kick starter that will usher in a new era of economic development in San Bernardino County by creating jobs, housing, retail, and commercial activity,” California Treasurer Fiona Ma said in a statement.To contact the reporter on this story: Romy Varghese in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Campbell at email@example.com, Michael B. Marois, William SelwayFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
As was widely expected, the Federal Reserve lowered interest rates today by 25 basis points, but that wasn't enough to spark upside for equities. Nor was it enough for President Donald Trump who criticized the Fed for lacking "sense" and "vision" because it didn't lower rates by 50 basis points.Source: rafapress / Shutterstock.com Three Fed governors voted against today's rate cut, prompting some investors to express concern about the path forward."In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective," the Federal Open Market Committee wrote in a statement.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and expectations, and readings on financial and international developments.So today the Nasdaq Composite slipped 0.1% while the S&P 500 added just 0.03%. The Dow Jones Industrial Average gained 0.1%. In late trading, half of the Dow stocks were pointed higher. The only sector in the U.S. that closed higher today was, unsurprisingly, utilities. Small Winners CircleThere weren't many Dow winners today and among that small group, the gains were, well, small. One surprise was JPMorgan Chase (NYSE:JPM). Financial services stocks usually benefit from higher interest rates, and JPM and its rival banks have recently been complaining about the effects lower rates have on their net interest margins. In late trading JPM was the only financial services name in the Dow trading higher. * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars Another surprise, though of the disappointing variety, was Merck (NYSE:MRK). This Dow component barely nudged higher despite some encouraging news about its Keytruda cancer treatment. Regulators in Australia, Canada and the U.S. approved Keytruda to treat advanced endometrial carcinoma.This is significant news, but the stock barely moved higher today. Hey, it's not everyday three major developed markets approve a cancer treatment on the same day."Merck said regulators approved the use of Keytruda with a drug called Lenvima, discovered by the Japanese company Eisai (OTCMKTS:ESALY), to treat some instances of advanced endometrial carcinoma, a serious condition for which patients currently have few options," Josh Nathan-Kazis wrote for Barron's.Procter & Gamble (NYSE:PG) was a Dow winner today, and like the others, it was in modest fashion. P&G is one of the Dow's best-performing names this year. And some traders are getting bullish about options on the consumer goods giant's shares. Apple, AgainYes, Apple (NASDAQ:AAPL) has been making a lot of appearances here in recent days -- and the iPhone maker is back today. Wedbush released a note earlier today forecasting 185 million in iPhone 11 shipments for fiscal 2020. Analysts also wrote that pre-orders for the phone in the U.S. have been strong.Up nearly 8% this month, Apple has been one of the best-performing Dow stocks in September. Bottom Line on the Dow Jones TodayIt's clear that market participants are focusing on the Fed's division. However, because the central bank did not cut by 50 basis points today, it has another 25 basis point cut in its back pocket. Chairman Jerome Powell overtly said that the Fed can deploy more rate reductions if the economy sours, which he doesn't see happening right now.Speaking of the economy, the Fed upped its 2019 gross domestic product forecast to growth of 2.2%. That's up slightly from June's estimate of 2.1%. For now, the central bank is standing firm on its forecast of 2% GDP growth in 2020.As of this writing, Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars * 5 Stocks to Buy With Great Charts * 5 Goldman Sachs Stocks to Buy with Over 20% Upside Potential The post Dow Jones Today: Fed Obliges, Stocks Don't appeared first on InvestorPlace.
We searched, using our Zacks Stock Screener, for large-cap dividend stocks investors might want to buy after the U.S. Federal Reserve cut interest rates for the second time...
With new details pouring in about forthcoming digital video services from Apple Inc. and NBCUniversal, and blockbuster licensing deals at Netflix Inc. and HBO Max, the streaming wars are heating up. Apple (NASDAQ: AAPL) has thrown down the gauntlet with plans to launch on Nov. 1 at a price point of $5 per month — or free for a year for subscribers who buy an Apple device.
(Bloomberg) -- Apple Inc.’s top communications executive Steve Dowling is leaving the company.Dowling, vice president of communications and head of public relations, has worked at Apple for 16 years and been in his role since 2014. He has been responsible for Apple’s messaging to the press, iPhone launch events and internal communications for much of Apple Chief Executive Officer Tim Cook’s tenure. Recode earlier reported Dowling’s departure.“Following another successful product launch, he has decided to leave Apple to spend some much deserved time with his family,” Apple said Wednesday in a statement. He leaves behind a tremendous legacy that will serve the company well into the future. We’re grateful to him for all that he’s given to Apple and wish him the best.”Apple marketing chief Phil Schiller, known for leading the company’s secretive culture and directing product features, will take over, Apple said. Dowling’s departure marks at least the third well-known executive to leave this year, following former senior vice president of retail Angela Ahrendts and design chief Jony Ive.To contact the reporter on this story: Mark Gurman in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Andrew Pollack, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.