Ultimate Market Recap: iPhone 5 Lacks Luster, Powerwave Crashes 13%

Early BUZZERS: Apple Climbs HIGHER on iPhone 5, Facebook BACKSLIDES

Shares of Apple (NASDAQ:AAPL) closed more than 1 percent higher yesterday and continue to attract attention in early trading today. The tech giant finally unveiled the long-awaited iPhone 5, featuring a taller screen, thinner and lighter body, and 4G wireless compatibility. The new smartphone, launched by senior vice president of worldwide marketing, Phil Schiller, at the company’s media event in San Francisco, has a screen display that measures 4 inches diagonally and features five rows of icons, plus the four shortcuts on the bottom. Qualcomm (NASDAQ:QCOM), a chip supplier to Apple, also traded higher.

Facebook (NASDAQ:FB) shares had their biggest one day jump on Wednesday, but edged slightly lower in late afternoon hours and continue to backslide this mroning. Mark Zuckerberg made his first public appearance at the TechCrunch Disrupt since Facebook went public in May. He provided hope to shareholders by highlighting positive results in mobile. “What we are seeing already, even with the early mobile ads that we have, is that they are performing even better than the right hand column ads on desktop…there’s a huge opportunity,” explained Zuckerberg.

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Amazon.Com (NASDAQ:AMZN) shares traded slightly higher in late afternoon trading but are moving lower this morning. The online retailer will begin collecting sales tax in California on Saturday, but it is expanding distribution centers in order to offer faster delivery times. “We want fast delivery,” Jeff Bezos explained, according to the New York Times. At a minimum, “we can work on making it the next day.”

American Eagle Outfitters (NYSE:AEO) shares are up over 2 percent this morning. The clothing retailer announced that its board declared a special cash dividend of $1.50 per share, in addition to a regular quarterly dividend of 11 cents per share. Robert Hanson, chief executive officer stated, “The special cash dividend is a component of our capital allocation plan, which balances continued investment in our business with top tier shareholder returns.”

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Wall Street Brief: The iPhone 5 Lacks WOW Factor, Ford Prepares to RESTRUCTURE

Apple (NASDAQ:AAPL) will begin accepting pre-orders for the iPhone 5 on Friday after introducing it on Wednesday. The phone did not have too many surprises and has been considered lacking the “wow” factor. But analysts still think 10 million-12 million will still be purchased in September. The device will ship on Sept. 21 in the U.S., U.K. and numerous other countries with 100 nations by the end of the year. This represents the iPhone’s speediest roll-out so far.

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With its eye on European profitability, Ford (NYSE:F) will starting preparing to restructure its operations there and shut-down a factory; this may be the 4,000-employee facility in Genk, Belgium, reported the Wall Street Journal on Wednesday. Meanwhile, its rival GM (NYSE:GM) is conducting talks with labor unions about closing an older Bochum, Germany plant as it faces challenges turning around major losses.

In European trading, BAE Systems (BAESF.PK) fell 6.2 percent and EADS (EADSF.PK) 8.65 percent after Wednesday’s news that they’re in advanced merger talks for a deal that will have the company worth$48 billion and pass Boeing (NYSE:BA) as the world’s biggest  aerospace and defense firm. The U.S. probably won’t block the deal, reported Reuters but the Financial Times believes it could face regulatory hurdles.

Treasury Department attorneys have recommended a preliminary settlement for federal and state prosecutors and Standard Chartered (SCBFF.PK) from its Iranian dealings, reported the New York Times. As for the bank’s potential fine, it is less than the $340 million it agreed to pay New York’s Department of Financial Services.

Freddie Mac (FMCC.OB) will get back an additional $2.2 billion-$3.4 billion from banks over bad mortgages after reviewing the way it had initially assessed loans that were repurchase request candidates. In January 2011, Freddie reached a $1.35 billion settlement with Bank of America (NYSE:BAC) over this issue, but conducted a review at the request of the FHFA inspector general; he found Freddie’s original methodology lacking.

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Morning BUZZERS: Apple JUMPS 1.2%, Verizon Set to Benefit from iPhone 5

Shares of Apple (NASDAQ:AAPL) jumped 1.20 percent this morning. The tech giant continues to see momentum after unveiling the iPhone 5 yesterday. The new smartphone, launched by senior vice president of worldwide marketing, Phil Schiller, at the company’s media event in San Francisco, has a screen display that measures 4 inches diagonally and features five rows of icons, plus the four shortcuts on the bottom. “It is an absolute jewel,” Schiller said. “It is the most beautiful product we have ever made, bar none.”

Verizon (NYSE:VZ) looks set to benefit from the iPhone 5. Fran Shammo, the company’s chief financial officer, claims Verizon will not suffer a large hit in profit margins due to subsidizing the new smartphone. Customers are purchasing larger data plans than expected. Furthermore, Verizon is America’s largest 4G LTE network.

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Facebook (NASDAQ:FB) shares edged lower after posting their biggest one-day gain since going public in May. Mark Zuckerberg spoke at the TechCrunch Disrupt conference and focused his attention on mobile, pleasing shareholders. He said, “What we are seeing already, even with the early mobile ads that we have, is that they are performing even better than the right hand column ads on desktop…there’s a huge opportunity.”

Shares of Amazon.Com (NASDAQ:AMZN) saw volatile trading this morning. Unconfirmed rumors circulated that the world’s largest online retailer was receiving a downgrade from Credit Suisse (NYSE:CS).

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EnerNOC, Inc. (NASDAQ:ENOC), who is a top provider of energy management solutions for the smart grid, announced that its Site Server, which compiles meter data from end users and streams it back to EnerNOC’s Network Operations Center (NYSE:NOC) in real time, was certified by the OpenADR Alliance as it complies with its most recent specification, OpenADR 2.0a. EnerNOC is one of the first companies in the OpenADR Alliance that has announced a 2.0a-compliant product. Shares of EnerNOC, Inc. are trading 1.68% lower today.

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Equinix Inc (NASDAQ:EQIX) stated that in accordance with tax rules applicable to REIT conversions, it intends to issue a special distribution to Equinix shareholders with undistributed accumulated earnings along with earnings of $700 million to $1.1 billion, which is to be paid out via a combination of as much as 20 percent cash and a minimum of 80 percent in Equinix’s common stock. Equinix plans to make the E&P distribution only following its obtaining of a favorable private letter that rules from the IRS and anticipates that it will make a large part of its E&P distribution prior to 2015, and the balance should be distributed in 2015.After the REIT conversion is finished, Equinix plans a declaration of regular distributions to its shareholders. Shares of Equinix Inc are trading 7.76% higher today.

Pall Corporation (NYSE:PLL) fiscal Q4 profit saw a drop of about 11 percent due to the company’s heavy restructuring charges, which masks its small sales improvement. Results greatly exceeded the expectation by Wall Street analysts. Shares of Pall Corporation are trading 7.79% higher today.

Apple Inc. (NASDAQ:AAPL) has created a new connector for the iPhone 5 which will make iPhone users either purchase new chargers, docks, and clock radios, or new cables along with $30 adapters from Apple, The New York Times reports. This new adapter will possibly not work on all old devices, states that newspaper. Shares of Apple Inc. are trading 1.15% higher today.

Opexa Therapeutics Inc. (NASDAQ:OPXA), which is a company that develops Tcelna™, which is an important T-cell therapy for those with multiple sclerosis (NYSE:MS), announced that Neil Warma, which is the President and Chief Executive Officer, is expected to be a part of two upcoming industry conferences. These conferences are the Intellectual Property Owners Association (IPO) Annual Meeting and the 8™ Annual Burill Personalized Medicine Meeting. Shares of Opexa Therapeutics Inc. are trading 5.06% higher today.

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Toyota CHANGES UP Tag Line and 4 Hot Stocks Demanding Attention

Piedmont Natural Gas Company Inc. (NYSE:PNY) reported a revenue totalling $161.1 million. Three analysts were polled by S&P Capital IQ and they stated that they wished to see a top line of $189.8 million on the same basis. Additionally, GAAP reported a drop in sales of 18 percent compared to the previous year’s quarter with a total of $197.3 million. Shares of Piedmont Natural Gas Company Inc. are trading 0.72% higher today.

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Bank of America Corporation (NYSE:BAC): Economists continue skepticism in regards to what economic benefits would be seen if there were another round of bond buying by the Fed, although the majority expects that the central bank will go down that road when its most recent policy meeting is finished later today, according to the Wall Street Journal’s most recent forecasting survey. Shares of Bank of America Corporation are trading 0.06% higher today.

Sirius XM (NASDAQ:SIRI) trades up 1.24 percent, and was last sold at a price of $2.45. It traded up to $2.46 and down to $2.38. SIRI had previously closed at $2.42. 10,620,314 shares of the stock traded hands today.

Toyota Motor Corporation (NYSE:TM) has  a new tagline, “Let’s Go Places,” which is intended to insinuate that its vehicles are more exciting and engaging than they were previously, and the company continues by inviting customers “to take part in shaping Toyota’s future.” Shares of Toyota Motor Corporation are trading 0.67% lower today.

Nokia (NYSE:NOK) Siemens Networks is currently talking with various companies in regards to selling its business-support-systems unit as part of a drive intended to diminish its non-core segments and to focus on its main mobile broadband network equipment division.

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Dole in NEGOTIATIONS with Itochu and 4 Hot Stocks Making Waves

Powerwave Technologies, Inc. (NASDAQ:PWAV):  Powerwave Technologies, Inc., a global supplier of end-to-end wireless solutions for wireless communications networks, announced that they have entered into a new $50 million senior secured credit agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group. Under the credit agreement, the lenders will advance $35 million to the company, less fees and expenses, and will agree to loan an additional $15 million, subjected to the fulfillment of certain conditions. This will also include an accordion feature that allows the firm to request up to an additional $100 million, in term loans. Proceeds from advances will be used to finance working capital, and general corporate purposes. Shares of Powerwave Technologies, Inc. are trading at 13.39% lower today.

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Dole Food Company, Inc. (NYSE:DOLE): According to a news release on Wednesday, Dole Food Company, Inc. has said that they are negotiating with the Japanese trading house Itochu about selling their packaged foods and Asian fresh fruit businesses to them. The firm has also been talking to “several other parties” about a potential sale of those and other businesses. No definite agreements have been made. Shares of Dole Food Company, Inc. are trading at 0.43% higher today.

Companhia Energetica Minas Gerais (NYSE:CIG):  Companhia Energetica de Minas Gerais, Brazil’s largest power company by market value, declined the most in more than 14 years due to government measures that have cut electricity rates, thus hurting their profit. In addition to this, other utility companies have also dropped. Cemig declined 20% to close at 25.29, Reais in Sao Paulo fell 23%, the biggest intra-day drop since September 1998, and Cia. Energetica de Sao Paulo plummeted 28%, the most since they began trading in August 2006. Shares of Companhia Energetica Minas Gerais are trading at 1.60% higher today.

Pier 1 Imports, Inc. (NYSE:PIR):  For the 53rd week of the year, Pier 1 Imports, Inc. is expected to have made approximately $25 million in total sales. Shares are trading at 0.51% lower today.

Vical Incorporated (NASDAQ:VICL):  Vical Incorporated announced a worldwide, non-exclusive license of their patented platform DNA immunization technology and their Vaxfectin(NYSE:R) adjuvant for use in the production of antibodies to Bristol-Myers (NYSE:BMY). Financial terms of the agreement were not disclosed. Shares of Vical, are trading at 5.84% higher today.

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