Wall Street Brief: AT&T Sets iPhone 5 Sales RECORD, Shell Delays Arctic Hunt
AT&T (NYSE:T) set a sales record with the Apple (NASDAQ:AAPL) iPhone 5 over the weekend. It is now the fastest-selling iPhone the company has offered. Customer activity represented the most for AT&T iPhone pre-orders for any previous model and during the weekend. A new Barclays analysis forecasts large year-over-year Chinese export gains in September and October, assisted by iPhone 5 sales.
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U.S. regulators are supposedly investigating whether JP Morgan Chase (NYSE:JPM) failed to properly monitor transactions, enabling criminals to launder money. The Office of the Comptroller of the Currency is overseeing the money-laundering investigation. This comes as a time when JPM’s share price moved back to levels last seen before May 10 news of the London Whale trading debacle.
Royal Dutch Shell (NYSERDS.A) (NYSE:RDS.B) will delay its hunt for oil off the Alaskan Arctic until 2013 after a dome that would be used to hold oil in the instance of a spill, had been damaged in testing. Shell said it will continue working in this area but it will drill the top portion of wells before temporarily shutting holes and returning next year. With the short drilling season in the Arctic’s Chuckhi Sea, Shell continues waiting for final permits to enable them to proceed.
The U.S. Treasury Department is supposedly unwilling to sell the government’s General Motors (NYSE:GM) stake because a sale would result in large investment losses. Earlier this year, GM reportedly floated a plan with Treasury officials to repurchase 200 million of the approximate 500 million shares held by the U.S. government of the company, with the Treasury selling the remaining shares via a public offering; the government is disinterested in GM’s offer at the current price. With GM’s Friday close share price at $24.14, the U.S. would lose almost $15 billion on the GM bailout if the entire stake was sold.
Over the weekend, anti-Japanese protests exploded in China during a territorial dispute that could affect trade ties between the large Asian economies. Toyota (NYSE:TM) and Honda (NYSE:HMC) said arsonists badly damaged their stores in the eastern port city of Qingdao, and Canon (NYSE:CAJ) and Panasonic (NYSE:PC) will halt some China-based production from safety concerns. The two countries have a long dispute over a group of uninhabited islands in the East China Sea; this contains the potential for large natural gas reserves.
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Alexandria Real Estate Equities ANNOUNCES Dividend and 4 Hot Stocks Trading Today
Bank of America Corporation (NYSE:BAC): Private-equity firms wishing to offload assets, have come to rely on mountains of sand, gas stations, and coal mines into as a special type of security offering annual yields up to 19 percent for the upcoming years for investors. These securities are in the form of an investment well known for predictable income streams and relative safety: master limited partnerships. However, a few investors and analysts show concern that the new MLPs carry a far greater risk than predecessors, according to the Wall Street Journal. Shares of Bank of America Corporation are trading 1.78% lower today.
Don’t Miss: Regulators Keep SPOTLIGHT Pointed At Big Banks.
Alexandria Real Estate Equities Inc. (NYSE:ARE) recently made the decision to raise its quarterly dividend from 51 cents to 53 cents per share, equivalent to a 4.0 percent rise from the previous dividend payout. The dividend should be payable on October 15, 2012 to shareholders of record as of September 28. Shares of Alexandria Real Estate Equities Inc. are trading 0.18% higher today.
Toyota Motor Corporation (NYSE:TM): Today, President Obama is to launch a trade complaint against China at the World Trade Organization in regards to what the administration has described as Beijing’s allegedly illegal subsidies for automobiles and auto parts, according to a White House official, reports Reuters. Shares of Toyota Motor Corporation are trading 1.18% lower today.
GMAC LLC (NYSE:GOM): GM Financial has raised subprime lending within the U.S., and GMAC-SAIC, which is the GM’s financial lending operation in China, recently has gained tons of customers. GMAC-SAIC is a joint venture between Ally Financial Inc., Shanghai Automotive Group Finance Co., Ltd. and Shanghai General Motors Co. Ltd. (SGM), and last week, it announced that it exceeded 880,000 customers after eight years. Now, the firm now possesses a total serviced asset base of over CNY 40 billion ($6.4 billion) and it keeps outpacing average industry growth as it keeps its market-leading position in China. Through the years, GMAC-SAIC has also introduced numerous innovative offerings, like its Young Plan, offering flexible financing for the growing amount of first-time car buyers. The product recently won the prestigious Golden Engine award. Shares of GMAC LLC are trading 0.12% higher today.
Apple Inc. (NASDAQ:AAPL): Wi-LAN has given a litigation update concerning the consolidation of two cases that are currently before the U.S. District Court for the Eastern District of Texas, Tyler and Marshall Divisions. Both cases are concerned with the infringement of WiLAN’s Patent No. RE37,802 in relation to CDMA and HSPA and U.S. Patent No. 5,282,222 related to Wi-Fi and LTE. On September 14, the Court granted WiLAN’s motion to transfer the Apple case from the Tyler Division to the Marshall Division. The trial date for the consolidated Apple and HTC cases should be on August 5, 2013. Shares of Apple Inc. are trading 0.97% higher today.
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Ford Shares RISE and 4 Hot Stocks Turning Heads
Ford Motor Co. (NYSE:F) shares rose $0.19 (equal to 1.84 percent) to $10.53. There were 55.95 million Ford shares traded hands versus its average daily volume of 33.10 million shares. During the year, the stock has traded within a range of $8.82 to $13.05. As of the latest close, its price has seen a 19 percent increase versus the 52-week low and continued to be 24 percent lower than the 52-week high.
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Support.com, Inc. (NASDAQ:SPRT) reached for a new 52-week high last week, but still sees a lot of room for growth. The company gives live online tech support to consumers and small businesses, and it partners with retailers and anti-virus as a way to give remote support. Numerous companies have been stopped by competition in this area, but Support.com continues to discover ways it can deliver impressive growth. Wall Street believes that will be 35 percent top-line growth for the year, with revenue reaching 27 percent next year. Although Support.com has yet to be profitable, it is making its way. Shares of Support.com, Inc. are trading 1.94% higher today.
Nokia (NYSE:NOK): On Friday, the company announced that its use of misleading marketing material for the new Lumia smartphones was not a good decision, and the firm has taken appropriate action for repairs caused by the problems. Earlier in the month, independent blogs scrutinized Nokia for not utilizing its own hardware for the shooting of promotional videos intended to demonstrate the benefits of its new camera on its new Lumia 920 flagship device. This mistake has given the device a bad stigma prior to the hightly anticipated unveiling of two new smartphones which run Microsoft Corporation’s (NASDAQ:MSFT) newest update of the Windows operating system. The internal investigation ended on Friday.
Facebook (NASDAQ:FB): The Winklevoss twins, whose legal settlement with Mark Zuckerberg totaled $65 million, have started supporting their own social network. The brothers have invested $1 million in SumZero, founded in 2008 by fellow Harvard University alums Divya Narendra and Aalap Mahadevia, according to The Wall Street Journal on Monday.
Piedmont Natural Gas Company Inc. (NYSE:PNY): Today, at its normal quarterly Board of Directors meeting, Piedmont Natural Gas announced that it would declare a quarterly dividend on Common Stock of 30 cents per share, which is to be payable on October 15, 2012, to shareholders of record as of September 24, 2012. Shares of Piedmont Natural Gas Company Inc. are trading 0.80% lower today.
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Afternoon BUZZERS: Apple Breaks This iPhone RECORD, JPMorgan Faces Money Laundering PROBE
Shares of Apple (NASDAQ:AAPL) are up around 1 percent today. The tech giant is off to a strong start with its latest iPhone. AT&T (NYSE:T) announced it set a sales record with the iPhone 5, due to consumers ordering more of the new unit than any previous iPhone on the first day of pre-orders. Overall, Apple said it sold more than 2 million units over the first 24 hours of pre-orders.
Netflix (NASDAQ:NFLX) shares are down over 5 percent this afternoon. The online streaming company may lose some A&E content if the two do not reach a deal by the end of the week. Storage Wars, Pawn Stars and Hoarders are some of the shows that may no longer be available via Netflix.
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JPMorgan Chase (NYSE:JPM) shares are down 0.5 perent this afternoon. The nation’s largest bank by assets is facing a money laundering probe. Reuters reports, “The probe appears to be focused on the systems and personnel that JPMorgan uses to safeguard against illicit money flows, the sources said, declining to be identified because they were not authorized to speak to the media. One specific angle of the probe is how the bank’s systems were set up to review a high volume of suspect transactions.”
Shares of General Motors (NYSE:GM) are down 1.33 percent today. The U.S. Treasury Department is supposedly unwilling to sell its stake in the automaker, because a sale would result in large investment losses. Earlier this year, GM reportedly floated a plan with Treasury officials to repurchase 200 million of the approximate 500 million shares held by the U.S. government of the company, with the Treasury selling the remaining shares via a public offering; the government is disinterested in GM’s offer at the current price.
Investor Insight: QE3 Removes Price Ceiling for Gold and Silver
General Electric Hires Morgan Stanley and 4 Hot Stocks Seeing Action
General Electric (NYSE:GE) hired Morgan Stanley for a review of its 33 percent stake in Thailand’s Bank of Ayudhya Pcl, which has the possibility of leading to a sale by the U.S. conglomerate of its near $2.2 billion holding, according to those familiar with the matter.
Neuralstem, Inc. (NYSE:CUR), on Friday, stated that it inteds, subject to market and other conditions, to begina a public offering of its common stock. The company intends to use the offering’s net proceeds for general corporate reasons, like research and development expenditures, working capital, capital expenditures, clinical examination expenditures, along with various general corporate purposes.
Sprint Nextel (NYSE:S): The company’s success in its partnership with Apple has not really done much positive for investors but it is a lessor for all investors, traders, and speculators. Year to date, Sprint-Nextel has has seen an increase of about 124 percent. The iPhones’ success from Apple is a major contributing factor, as teaming with Microsoft for the Windows Phone was not nearly as rewarding for Nokia Corporation.
Alpha Natural Resources, Inc. (NYSE:ANR) is one of America’s top coal producers. Coal has seen bad business for an extended period of time as demand and prices have been seriously injured since the beginning of 2011, but it recently has been predicted that coal prices will see a major improvement for at least the next two years. Both the Federal Reserve’s stimulus measures and minimized production, combined with a forecast for a cold winter, could push a coal producer like ANR up from all-time lows. Alpha Natural has seen a 60 percent rise since the beginning of September, but it there is more room to increase during the fall. The stock possesses two areas of resistance; one is right below $10 (previous pivot high) and the other close to $12.
Analogic Corporation (NASDAQ:ALOG) shares saw a big boost causing them to hit an all time high on Friday it announced strong fiscal Q4 results. The company reported that its net income more than doubled to 96 cents a share during its Q4 which ended on July 31. FactSet has stated that analysts predicted average earnings of 74 cents a share. The firm revealed that its sales of medical imaging products continued to be stable as ultrasound and security product revenue was enhanced. According to the company, the gains are due to new products, a bigger direct-sales force, and better efficiency.