Microsoft, Micron, Staples, Citigroup, Apple Heavy Volume Stock Movers as DJIA Hits 13,055
Microsoft Corporation (NASDAQ:MSFT): After examining a preview of Microsoft’s Windows 8 product, Oppenheimer was pleased by the demo and believes that it effectively integrates the desktop experience, touch, the cloud and mobile. The firm raised its target on Microsoft to $36 from $32 and maintains an Outperform rating.
Micron Technology, Inc. (NASDAQ:MU): Wedbush sees more upside in Micron shares after the company increased its manufacturing stake in IM Flash and Elpida, the third largest DRAM super, filed for bankruptcy protection. The firm views Micron’s increased stake in IM Flash as a considerable positive and thinks Elpida’s filing will accelerate the recovery in DRAM.
Staples, Inc. (NASDAQ:SPLS): Sees FY12 revenue to increase in low-single digits, consensus $25.38B.
Citigroup Inc. (NYSE:C): Citigroup overall option implied volatility of 35 is below its six-month average of 52 according to Track Data, suggesting decreasing price movement.
Apple Inc. (NASDAQ:AAPL): Core Wireless Licensing announced that it has initiated patent infringement litigation against Apple in the United States District Court for the Eastern District of Texas, Tyler Division. Core Wireless alleges that wireless communications devices sold by Apple, including the Apple iPad and iPad2, and Apple’s iPhone 3G, 3GS, 4 and 4S models, practice a variety of technologies covered by standards essential patents owned by Core Wireless. Core Wireless is seeking judgment that the patents have been and/or continue to be infringed, enhanced damages, mandatory future royalties on current and future Apple products that infringe the patents-in-suit, and other remedies.
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