Apple’s iPhone Launch Comes Together, PetroChina’s Strong First Half, and 3 More Hot Stocks
Apple (NASDAQ:AAPL): Nikkei reports that local carriers SoftBank and KDDI will begin selling the iPhone 5S and 5C on September 20, and it reinforces a report from AllThingsD that says an Apple launch event is scheduled for September 10. Additionally, Foxconn will begin shipping two new iPhone models in early September, according to The Wall Street Journal.
PetroChina Company Ltd. (NYSE:PTR): The company’s first-half net profit rose 5.6 percent during last year to 65.5 billion yuan ($10.6 billion) due largely to narrowed losses at its refining and chemical businesses after China’s reform of fuel pricing. Revenue grew 5.2 percent during the same period to 1.1 trillion yuan as expenses were up, though operating profit still fell ahead. Volume of sales rose for all crude oil, natural gas, gasoline, and diesel, with gas prices also helping to lift the bottom line. Total oil output rose 3.2 percent in the period.
Toyota Motor Corp. (NYSE:TM): Even with increasing pressures on the pricing front, Toyota has signaled that it will keep its pricing for the Camry sedan stationary for the time being. Even though the pricing will remain stable, analysts are projecting that the company will still make use of incentives to keep sales above that of its rivals. Toyota offered incentives of $2,581 per Camry sold in July compared to $627 per Honda (NYSE:HMC) Accord.
Barrick Gold Corp. (NYSE:ABX): Barrick’s sales of three gold mines to Gold Fields (NYSE:GFI) for $300 million indicates the start of its promised restructuring, allowing the company to concentrate on its five lower-cost mines that already make up 60 percent of output, Seeking Alpha reports. Though the three mines that made up the sale produced a total of 452,000 ounces of gold in 2012 and a further 196,000 ounces in the first half of this year, Barrick says that the sale will not change its full-year plan to produce 7 million-7.4 million ounces.
Hewlett-Packard Co. (NYSE:HPQ): Shares are down substantially in the wake of a less-than-impressive earnings report Wednesfay night. The company met the earnings per share estimate of 86 cents, though its $27.22 billion in revenue came in $70 million light. Nearly every segment saw sales declines, with software being the one holdout with a 1 percent gain. Chief Operating Officer Bill Veghte is now in charge of enterprise hardware and will continue to lead HP’s cloud efforts; he replaces Dave Donatelli, who is now tasked with “identifying early-stage companies with new technologies.”
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