Apple’s iPhone Remains King, Smithfield Buyout Hits a Snag, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): A new Kantar report indicates that Apple’s smartphone share has grown to 43.4 percent, a 7.8 percent leap from where the iPhone sat a year ago. The U.S. remains Apple’s strongest market, though the U.K. saw an identical surge of 7.8 percent during the same period. The growth was almost in direct correlation to Android’s 7.6 percent decrease, though combined, the two platforms account for 94.5 percent of smartphones in service.
Smithfield Foods Inc. (NYSE:SFD): Shares are trading up as hedge fund Starboard Value says that it will oppose the buyout of Smithfield Foods by the Chinese firm Shuanghui International, as it says that the pork producer should pursue a better offer. Shuanghui put forth a $34 per share bid on the company.
Kraft Foods Group (NASDAQ:KRFT): Kraft has revealed that Teri List-Stoll will be the replacement for Timothy McKevish as the company’s CFO in the first quarter of next year, after working alongside McKevish to ensure a smooth transition. List-Stoll boasts a 20 year track record at Proctor & Gamble, having gotten her start at Delloite and Touche.
Rio Tinto (NYSE:RIO): Rio Tinto’s newly expanded port, rail, and mine facilities in Western Australia, one of the biggest mining projects in the country, has commenced the shipping of iron ore, with the first 165,000 metric ton shipment slated for Nippon Steel & Sumitomo Metal’s Kimitsu plant in Tokyo.
“Given the demanding operating environment in Western Australia over the recent period, this stands as a noteworthy achievement,” Rio Tinto iron-ore chief Andrew Harding said in a statement. “Our focus will now be to ensure the ramp-up to full run-rate is achieved safely and efficiently.”
GlaxoSmithKline (NYSE:GSK): The ongoing investigation into the British drug giant’s Chinese bribery allegations has reportedly revealed that the company coordinated the bribery of doctors rather than the corruption being the actions of individual workers. Huang Hong, one of four executives detained by police, said that the firm set annual sales-growth targets of up to 25 percent, about 7 to 8 percentage points above the average rate for the industry. The goals couldn’t be achieved without “dubious corporate behavior,” Huang added.