Apple Buys Embark, Seadrill Misses Out on Sevan, and 3 More Hot Stocks

Apple Inc. (NASDAQ:AAPL): Apple has reportedly purchased Embark, a developer of apps that provide public transit information and trip-planning tools for several major U.S. cities, including New York City, Chicago, San Francisco, and so on. No terms were revealed, though Apple did confirm that the purchase was made. Embark joins HopStop, a transit app developer that Apple also purchased, last month.


Seadrill Limited (NYSE:SDRL): An attempt to acquire Sevan Drilling was shutdown as it was only able to pick up a small number of shareholder acceptances under a mandatory offer for the company which the company launched after its June announcement that it had increased its ownership of the deepwater rig company to 50.1 percent.


Halliburton (NYSE:HAL): Halliburton has announced that its cash tender offer to repurchase $3.3 billion worth of its stock through a Dutch auction was oversubscribed as the company now expects to acquire 68 million shares — at $48.50 per share — hitting the top end of the range it set when it announced the tender offer in July. The purchase puts a 1.4 percent premium over Thursday’s closing price.


Pilgrim’s Pride Corporation (NYSE:PPC): Moody’s has put the company’s B2 rating on review for a possible upgrade, noting the repayment of debt and better operating performance. Pilgrim’s ”created positive operating cash flow of $290 million this quarter through effective management of inventory balances and collection of AP balances,” the investor service points out.


Apache Corporation (NYSE:APA): ”Investors have plenty of risk in the stock market. They don’t want civil war risk in their portfolios, too,” Oppenheimer’s Fadel Gheit says of Apache’s Egyptian operations as recent violence in the region has posed a dilemma for the company. The company could wait it out, or sell off its assets for “fire-sale” prices. However, Raymond James has the other side, saying that, “Political uprisings have happened before and the company has never lost a single barrel of production.”


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