Apple’s iPhone Exchange Launches, eBay’s PayPal Initiative, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): Apple has informed CNBC’s Jon Fortt that the company’s iPhone trade-in program rolls out nationwide Friday. Separately, the release date of Apple’s iPhone 5S and 5C models may have been confirmed by an AT&T employee vacation blackout for the second half of September, according to BGR. T-Mobile has already blacked out its employee vacation dates around September 20.
eBay (NASDAQ:EBAY): In order to settle and prevent numerous merchant complaints over its PayPal unit, eBay is launching an initiative called Customer First that it hopes will yield a higher user satisfaction rate. Within the program, PayPal is adjusting its risk models to result in fewer payments to trustworthy merchants being held up, or, in the words of an executive, “[catching] more sharks and less dolphins.” The company will also be putting in place a “no fault construct” for small buyer complaints regarding counterfeit goods.
Krispy Kreme Doughnuts (NYSE:KKD): Shares of Krispy Kreme are tanking nearly 14 percent in the wake of an earnings miss and revenue beat, even though the company reaffirmed its guidance. Executives didn’t express much concern over the miss. They pointed to the impact of re-franchising, a smaller store format, and a strong comp from last year during the firm’s conference call, Seeking Alpha says.
Lockheed Martin (NYSE:LMT): Lockheed reported that it obtained a $37 million contract to outfit the Navy and other allied navy customers with upgrade kits and services for the MK 48 heavyweight torpedo. The contract is a part of a larger, five-year effort to upgrade the entire submarine fleet and will introduce increased bandwidth and streamlined targeting and tracking capabilities for the MK 48.
BP (NYSE:BP): People who claim that they aren’t getting enough money from BP’s settlement program for the Gulf Coast now appear to be helping bolster the company’s arguments that approval of the entire deal should be junked if the method that the claims administrator is using to pay business losses is upheld. Meanwhile, an appeal filed by claimants says the settlement should be paying more.