Cook and Icahn Set to Talk Apple, Ebay Snaps Up Braintree, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): Carl Icahn and Tim Cook will hold their expected meeting on Monday in New York, David Faber is reporting. Icahn — who has been increasing his position in Apple – has been pushing for the company to further ramp its buyback activity, even after Apple spent $18 billion on buybacks during the June quarter.
EBay (NASDAQ:EBAY): EBay’s PayPal arm will be purchasing fellow payment-processor system Braintree for $800 million, in cash. Braintree will continue to operate as a separate service than PayPal, remaining under the leadership of current CEO Bill Ready, while Braintree’s Venmo social sharing-focused mobile payments app will be integrated with PayPal’s mobile payments offerings. EBay expects the acquisition to be immaterial to its 2013 revenue guidance, and to dilute 2013 EPS by a penny.
Avis Budget Group (NYSE:CAR): Avis shares are slumping after fellow rental agency Hertz (NYSE:HTZ) issued a warning related to rental volume. Seeking Alpha notes that the damage could be much worse, if the company didn’t have “considerable pricing power with a car rental oligopoly firmly entrenched.”
Eli Lilly and Company (NYSE:LLY): Eli Lilly’s ramucirumab treatment, which the company gained access to in 2008 with the $6.5 billion ImClone deal, has met its primary endpoint of extending both overall survival and progression-free survival in a Phase III trial that dealt with patients suffering from advanced gastric cancer. Unfortunately, Lilly notes that ramucirumab did not meet its primary endpoint in ROSE, a Phase III study in women with locally recurrent or metastatic breast cancer and that appears to be what investors are focusing on, Seeking Alpha points out.
Facebook (NASDAQ:FB): Facebook is trying to enhance its ad buying process by introducing measures for ad buyers to track results and by making it easier for small businesses to display ads through the social media site. The company is rumored to be collaborating with Nielsen Holdings (NYSE:NLSN) in order to develop a way to measure user numbers on mobile devices, and continues to try and balance how it implements ads into mobile devices without harming the user experience on mobile.