Apple Supplier Sales Slump, Penn Gaming Wins Initial Approval, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): Analyst Brian White reports that his Apple Monitor, which tracks Apple-dependent Taiwanese suppliers, has reflected a 24 percent sales decline for the month of June year-over-year, and an 11 percent quarter-over-quarter slide. White attributes high-end smartphone weakness, pending iPhone and iPad refreshes, and macro-climate issues for the figures, though VentureBeat offers that this is “the calm before the storm.”
Penn National Gaming Inc. (NASDAQ:PENN): Penn says the Nevada Gaming Control Board has unanimously approved the steps needed to implement the separation of its operating assets and real property assets, moving the process along to the Nevada Gaming Commission, which also must approve the measures in order for Penn to complete the regulatory process in Nevada. The commission is set to review the issue on July 25.
T-Mobile US Inc. (NYSE:TMUS): CEO John Legere said that the company is open to relationships with Dish Network (NASDAQ:DISH) and Sprint (NYSE:S). ”When I look at the medium to long term, I’m intrigued by Dish’s vision,” Legere told CNET on Wednesday. Any deal with Sprint, which will be quite busy in the near term while contending with Clearwire (NASDAQ:CLWR) and merging with SoftBank, wouldn’t be a near-term proposition, Legere said: “When we look at the medium to long term, we don’t know what the industry structure looks like.”
InterOil Corp. (NYSE:IOC): Newly appointed CEO Michael Hession stated that he wants to keep the option of building a new gas-export plant in Papua New Guinea on the table, potentially going up against ExxonMobil’s (NYSE:XOM) project expansion plans in the same region. ”I’m coming onboard to build InterOil into a true LNG player,” Hession said. “So it’s not my intention that we do a sale without carrying forward any interest in this project.”
Vivus Inc. (NASDAQ:VVUS): Vivus’s third-biggest investor – QVT Financial, with an 8.3 percent stake — says it intends to vote in favor of the proposal put forth by First Manhattan, which would replace the incumbent board at the pharmaceutical company, despite proxy advisory firm recommendations to the contrary.