Ultimate Market Recap: Lexmark Leaps 13%, Chevron Saving for a Rival or a Rainy Day?

Pre-Market MOVERS: Apple Remains Hot, Molycorp Jumps 6%

Shares of Molycorp (NYSE:MCP) popped 5.99 percent in pre-market trading. The company announced it is starting up operations at its Project Phoenix facilities in Mountain Pass, California. Molycorp’s on-site Combined Heat and Power plant will also begin supplying cheap and high efficient electrical power to its Mountain Pass facilities.

Apple (NASDAQ:AAPL) shares continued to attract attention this morning after posting a near 2 percent gain on Monday. A long-running patent case between Apple and Samsung finally had its first moment of clarity over the weekend. Nine jurors delivered a huge win for Apple, awarding the company $1.05 billion in damages due to Samsung copying critical and patented features of the iPhone and iPad. Furthermore, the jury found that Apple did not violate any of Samsung’s patents. Apple sought $2.5 billion to $2.75 billion in damages, but the judge could still decide to triple the amount decided by the jurors. Nokia (NYSE:NOK) shares also rallied on the news, as it looks to gain ground on Samsung.

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Tiffany & Co (NYSE:TIF) shares are trading lower this morning after gaining 7.2 percent during regular trading hours on Monday. The world’s second largest luxury jewelry retailer reported that sales at stores open at least a year dropped 1 percent, better than expected. Tiffany’s comparable-store sales decline was “not as bad as feared,” Brian Nagel, an analyst at Oppenheimer & Co. in New York, explained in a note, according to Bloomberg.

Shares of Best Buy (NYSE:BBY) are up 1.40 percent this morning. The big box retailer and founder Richard Schulze announced yesterday they had reached an agreement to allow Schulze to perform due diligence on the company. Business Wire reports, “Best Buy stated that the agreement establishes a non-exclusive, orderly process which satisfies the requests made by Mr. Schulze, while at the same time protecting the interests of all shareholders. Mr. Schulze stated that he was pleased that an agreement was reached which will allow him to conduct the due diligence he had sought.” Shares closed more than 3 percent higher during regular trading, and continued to tick higher in late afternoon hours.

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Nokia and Microsoft BOOSTED By Samsung LOSS and 4 HOT Stocks Making Moves

Tiffany & Co. (NYSE:TIF) sees its effective tax rate at 34 percent to 35 percent, and it intends to add a total of 28 Company-operated stores, which will include 13 in the Americas, eight in Asia-Pacific, two in Europe, and the beginning of operation of five stores in the United Arab Emirates, which will include 13 stores already added in the first half of the year.

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Dollar Thrifty Automotive Group, Inc. (NYSE:DTG) along with Hertz Global Holdings (NYSE:HTZ) announced that they have entered into a definitive merger agreement beneath which Hertz would acquire Dollar Thrifty for $87.50 per share in cash in a transaction valued at a corporate enterprise value of about $2.3 billion. The boards of directors of both companies unanimously approved the transaction. Furthermore, Hertz announced that it reached an agreement to sell the Advantage business to Franchise Services of North America, or FSNA, and Macquarie Capital. The closing of that divestiture is conditioned upon, along with other things, Hertz’s completion of an acquisition of Dollar Thrifty. The combined company would possess improved leadership positions in important markets globally, with combined June 30, 2012 LTM sales totaling $10.2 billion and EBITDA of about $1.8 billion across about 10,000 locations globally. The company expects at least $160 million of annual cost synergies from the transaction, with additional sales growth opportunities. The transaction is structured as a two-step acquisition that includes a cash tender offer for all outstanding shares of Dollar Thrifty common stock followed by a cash merger in which Hertz would acquire any remaining outstanding shares of Dollar Thrifty common stock.

Apple Inc. (NASDAQ:AAPL): Samsung Electronics (SSNLF.PK), who was ordered by a U.S. jury to pay Apple more than $1 billion for infringing upon six mobile device patents, requested that a judge lift a ban on the U.S. sales of the Galaxy 10.1 tablet computer. The jury ruled that the Galaxy device did not infringe upon an Apple patent so the preliminary ban on its sale should be dissolved, Samsung stated in a court filing in federal court, Bloomberg reports.

AT&T (NYSE:T) AdWorks should launch an ad platform in September that would allow brands to target ads online based on TV and mobile data, stated Danielle Lee, AdWorks VP of product marketing and innovation. Two undisclosed brands have signed up to be included in the initial rollout. The AdWorks division worked with AT&T Labs in the development of an algorithm allowing brands to target audiences based on aggregate demographic data from TV programs watched or downloaded on apps, games and videos on mobile.

Nokia Corporation (NYSE:NOK) and Microsoft (NASDAQ:MSFT), in an attempt to raise their U.S. sales of smartphones, will probably be helped as Samsung Electronics (SSNLF.PK) products have to deal with a possible ban and handset makers are pressured to consider alternatives to Google’s (NASDAQ:GOOG) Android software, according to Bloomberg.

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Wall Street Brief: Samsung STANDS UP Against Apple, Ford CHALLENGED in Europe

Samsung (SSNLF.PK) has responded to Apple’s (NASDAQ:AAPL) request to ban the U.S sales of eight phones by saying it “will take all necessary measures to ensure the availability of our products in the U.S.” The devices represented $1.3 billion in sales for the first half of the year for the company. This request comes after last week’s patent win for Apple.

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General Motors (NYSE:GM) is reportedly planning to temporarily stop manufacturing its Chevrolet Volt. The plant will halt production in September and October for about four weeks. Volt sales have come in lower than expectations with around 10,ooo in the U.S. versus a 45,000 expectation through the end of the year.

Ford (NYSE:F) is facing challenges in Europe, especially with high labor costs from its old factories. In Saarlouis, Germany Ford workers are paid EUR 480 to make Focus compacts, while Hyundai pays EUR 207 for its i30 at its years old Czech plant. Because of this, the Focus costs EUR960 higher than the i30, leading to increasing Hyundai’s sales in the region while Ford’s numbers are declining.

AstraZeneca (NYSE:AZN) has named its new CEO, former Roche (RHHBY.OB) executive Pascal Soriot; he replaces the retired David Brennan. Interim AstraZeneca CEO Simon Lowth will return to his CFO position. Since 2010, Soriot has been Roche’s COO for its pharmaceuticals division and before that he was Genentech’s CEO who oversaw the Roche merger.

Airbus (EADSF.PK) won over Boeing (NYSE:BA) for a $7 billion booking from Philippine Airlines, ordering 10 long-haul A330-300 jets and 44 A321 planes The carrrier still wants to purchase more including 777 and 787 aircraft. Airbus is also supposedly close to  winning a bid for more than Chinese 100 narrow-body jets.

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Perfect World SINKS and 4 Hot Stocks Attracting Attention

Perfect World Co., Ltd. (NASDAQ:PWRD) stated on Monday that its net income has dropped by half during Q2, since fewer people played the company’s online games and revenue saw a sharp drop. Also, the Chinese company forecasts that revenue within the current quarter will be flat to only slightly down from Q2, mentioning that it does not expect to release its upcoming title, “Return of the Condor Heroes,” until late in Q3, at its soonest. Shares of Perfect World Co., Ltd. are trading 1.05% lower today.

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Tiffany & Co. (NYSE:TIF) net income saw a 2 percent rise during Q2 as revenue improved, Wall Street’s view was missed and the jewelry company reduced its full-year earnings guidance. Its shares fell less than 1 percent to $58.02 on premarket trading. Tiffany, which is also known for its blue boxes, earned a total of $91.8 million, or 72 cents per share, for the period that ended on July 31. This is compared with $90 million, or 69 cents per share, a year earlier. Shares of Tiffany & Co. are trading 0.4% lower today.

Sanderson Farms, Inc. (NASDAQ:SAFM) swung to a fiscal Q3 profit as it saw better market prices for its products, though a continuing drought will probably keep feed costs high. “These prices reflect steady retail grocery store demand and lower production,” stated Chief Executive Joe F. Sanderson Jr. “In addition, market prices for wings continued a strong counter-seasonal upward trend.” Shares of Sanderson Farms, Inc. are trading 8.62% higher today.

Bank of America Corporation (NYSE:BAC): Dallas Fed President Fisher attempted to add power to his opposition to further monetary stimulus with the release of a paper by a well-known economist critical of ultra-easy policy, said Reuters. Claiming the 45-page paper’s findings were “most illuminating,” Fisher tried to focus particular attention to its contention that easy money is not effective at boosting growth, and in fact, it harms the economy by encouraging governments to pursue “imprudent behavior” such as excessive borrowing. Shares of Bank of America Corporation are trading 0.19% lower today.

Citigroup (NYSE:C): A win for Morgan Stanley (NYSE:MS) in a battle against Citigroup regarding the value of their brokerage joint venture could possibly indicate that the firm is playing a losing hand. Morgan Stanley argues that the brokerage is worth less than half what Citigroup claims as it adds a 14 percent stake to the 51 percent the investment bank currently owns, according to Bloomberg.

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Afternoon BUZZERS: Apple SINKS, Lexmark SURGES 15%

Shares of Lexmark International (NYSE:LXK) gained more than 15 percent this afternoon. The company announced it will cease to manufacture business inkjet hardware. The move is expected to cut around 1,700 jobs and save $95 million a year. “Our investments are focused on higher value imaging and software solutions, and we believe the synergies between imaging and the emerging software elements of our business will continue to drive growth across the organization,” explained chief executive Paul Rooke. Hewlett-Packard (NYSE:HPQ) shares also edged lower on the news.

PVH Corp (NYSE:PVH) shares jumped 5.45 percent in afternoon trading. The clothing retailer, known for its Calvin Klein and Tommy Hilfiger brands, raised its full year earnings outlook for the third time this year. It now expects to earn about $6.25 to $6.32 per share for the year, compared to the previous range of $5.90 to $6.00 per share.

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Apple (NASDAQ:AAPL) shares ticked slightly lower this morning, after reaching another all-time high yesterday. Apple is seeking bans on the sale of eight older-model Samsung smartphones, including the Galaxy S2 and the Droid Charge. While Apple’s lawsuit, which was ruled on last week, encompassed 28 different Samsung devices, many of those products are no longer widely available in the U.S. “The evidence and weight of the case are heavily in Apple’s favor,” said Jefferies & Co analyst Peter Misek. “We expect there’s a two-thirds chance of an injunction against Samsung products.”

Shares of Molycorp (NYSE:MCP) surged 11.55 percent this afternoon. The company announced late Monday that it is starting up operations at its Project Phoenix facilities in Mountain Pass, California. Molycorp’s on-site Combined Heat and Power plant will also begin supplying cheap and high efficient electrical power to its Mountain Pass facilities.

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Alcatel-Lucent (NYSE:ALU): Liberty Media Corp.’s TruePosition has filed a claim against Alcatel-Lucent, Qualcom Inc. and Ericsson AB, for a violation of United States antitrust laws by denying them access to the next generation of phone locator technology.  U.S District Judge, Robert Kelly denied a motion to dismiss the case, saying that the companies must defend themselves against these allegations.

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Toyota Motor Corporation (NYSE:TM): Toyota Tsusho Corp. (8015), the trading arm of Japan’s largest car maker, offered 1.62 billion euros ($2 billion) to buy the remaining 70% of auto and drugs distributor CFAO SA (CFAO) to expand their business in Africa. Toyota Tsusho plans to buy shares for 37.50 euros apiece through a public offer. The price, which is 1.6% higher than CFAO’s latest close, matches the bid they made to buy a stake held by France’s PPR SA (PP) last month. The companies said, at the time, Toyota Tsusho was considering a general offer.  Shares of Toyota Motor Corporation are trading at 0.91% lower today.

Chevron (NYSE:CVX): According to the Wall Street Journal, Chevron (NYSE:CVX) is hoarding the money it makes from oil and gas operations, prompting investors to wonder if the energy giant is bracing for a spike in costs or will use its $21billion in cash to buy a smaller rival.

Apple Inc. (NASDAQ:AAPL): The Wall Street Journal reported that Samsung Electronics (SSNLF) will respond to Apple’s (NASDAQ:AAPL) request for a ban on some of their smartphone sales in the United States and they will make  “all necessary measures to ensure the availability of their products in the U.S. market.” Shares of Apple Inc. are trading at 0.18% lower today.

Facebook, Inc. (NASDAQ:FB): Citing Hebrew daily Yediot Ahronot, Globes reported that Facebook (NASDAQ:FB) is talking with traffic report application company Waze Ltd. The companies may form a collaboration, possibly involving the use of Waze’s application via Facebook. There is also speculation that they may acquire Waze.  Shares of Facebook, Inc. are trading at 0.84% higher today.

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Lexmark Shares LIFTS OFF 13% and 4 Sizzling Stocks Rocking the Market

Boston Beer Co Inc’s (NYSE:SAM) Q2 earnings fell 49 percent because of a previous year’s glass recall settlement gain and as the Sam Adams brewer raised spending on brand investments and saw an increase in barley costs, although shipments were also higher. Shares decreased 9.5 percent to $96.47 after hours, as sales and adjusted earnings growth missed Wall Street expectations. Shares of Boston Beer Co Inc are trading 0.13% higher today.

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Lexmark International Inc (NYSE:LXK): Today, the company stated that it will leave its inkjet printer business and cut 1,700 jobs globally in an attempt to save roughly $95 million annually. The company, which is a former spinoff from IBM, is stuck in a cut-throat inkjet printer market featuring HP and Canon as No. 1 and No. 2, respectively. According to Lexmark, it will provide supplies, service, and support to its inkjet installed base. The move allows Lexmark to place its focus on high-value imaging and software, the company claimed in a statement. Shares of Lexmark International Inc are trading 13.73% higher today.

PVH Corp (NYSE:PVH) reported an outstanding bottom-line performance in Q2 of fiscal 2012, with adjusted earnings per share seeing about a 17 percent rise year over year to $1.25, beating its own guidance range of $1.18 – $1.20. The year-over-year rise in earnings per share was mainly driven by a lower effective tax rate. Furthermore, it surpassed the Zacks Consensus Estimate of $1.19 per share. Shares of PVH Corp are trading 4.92% higher today.

Hudson City Bancorp, Inc. (NASDAQ:HCBK): Three weeks ago, Ronald Hermance returned to work after taking a six-month medical leave for a a bone marrow transplant, perfect timing to oversee the final negotiations resulting in a $3.7 billion deal with Buffalo-based M&T Bank Corp. which will signify the end of a banking era in New Jersey. “This is great medicine for me,” Hudson City Bancorp Chairman and CEO Hermance stated on Monday in a phone interview, after he and M&T officials hosted a conference call with analysts in order to discuss the deal, which caused Hudson City’s stock to see a 16 percent boost. Shares of Hudson City Bancorp, Inc. are trading 2.08% lower today.

General Electric Co. (NYSE:GE) along with Sprint Nextel Corp. (NYSE:S) joined other companies in leaving the American Legislative Exchange Council after the group revealed its support of voter-identification and self-defense laws. Spokesmen for both companies stated yesterday that they are ending their membership with the Washington-based public policy organization, which charged corporations up to $25,000 and allowed them to assist in writing bills that some lawmakers then tried to enact in their home states.

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