Wall Street Brief: All Eyes on APPLE, Eastman Kodak in the COLD
Apple Inc.’s (NASDAQ:AAPL) Worldwide Developer Conference will kick off today. CEO Tim Cook and company executives will present a slew of news including the unveiling of the next generation iOS operating system for the iPhone and iPad, MacBook updates, and the company’s mobile mapping software intended as a competitor to Google (NASDAQ:GOOG) Maps. The conference is also intended to allure developers to build apps for Apple.
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Volkswagen (VLKAF.PK) may take a stake in Navistar International (NYSE:NAV), taking a possible opportunity to close the gap with its rival, Daimler AG (DDAIF), reported the Financial Times. On Thursday, Navistar’s shares dropped 14 percent after it reported a fiscal quarter two loss.
GE (NYSE:GE) may sell businesses in its GE Capital’s consumer-finance portfolio, reported the Wall Street Journal, and possibly cut the division’s loan portfolio by 16 percent. This could come as an acknowledgement of investor concerns that the company is the owner of basically one of the nation’s biggest banks.
Eastman Kodak (EKDKQ.PK) has been unable to allure a bidder for its portfolio of digital-camera patents, reported The Wall Street Journal. The sale is vital to the company as it exits bankruptcy, but after a recent ITC ruling that saw an important image-preview patent as invalid, it isn’t helping matters.
Johnson & Johnson (NYSE:JNJ) could announce this week that will pay up to $2.2 billion to settle investigations into its marketing for its Risperdal antipsychotic treatment and other drugs. According to Bloomberg, the company claimed it paid Omnicare (NYSE:OCR) kickbacks. J&J is expected to make a misdemeanor plea; it could include a criminal penalty as high as $600 million.