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Tag - US Securities and Exchange Commission
Apple is once again turning to the debt markets to finance its stock buyback and dividend payout programs, a new filing with the US Securities and Exchange Commission has revealed. The iPhone maker will issue a new, €2 billion Euro (roughly $2.26 billion US) debt offering in order to continue to take advantage of extremely low interest rates. Only two notes will be offered, at €1 billion each, which will mature between January 2024 and the fall of 2027. The company last offered a Euro-based debt sale late last year.
[Updated with filing info for Eddy Cue] A pair of filings with the US Securities and Exchange Commission has revealed that Apple CEO Tim Cook and SVP of Internet Software and Services Eddy Cue have been awarded a total of 910,000 shares of AAPL stock for differing reasons. In the case of Cook, the company's performance relative to other companies in the S&P 500 over the last two years merited the award. The combined gross value of the stock is nearly $94 million at current prices.
A Texas court has found that the operator of Bitcoin Savings and Trust (BTCST) must pay back $40.4 million in profits and interest earned in a Ponzi scheme. The case is the result of lawsuit brought against Trendon Shavers for offering securities through BTCST and personal solicitation without being registered with the US Securities and Exchange Commission.
On Friday, Apple filed a brief notice with the US Securities and Exchange Commission making official the 7-to-1 stock split announced earlier this year. As of the closing of the market on June 2, all stockholders of record will receive seven shares for every share they held, once split-adjusted trading resumes on Monday, June 9. The move increases the total issuance of common stock in Apple from 1.8 billion shares to 12.6 billion shares, thus creating 10.6 billion new shares. AAPL closed at just $645.57 per share on Friday, near it's 52-week high.
The Facebook initial public offering (IPO) may have been hampered by the bank that brought the social network to Wall Street. The LA Times writes, Morgan Stanley was advising favored clients on reduced revenue estimates for Facebook, leading Wall Street insiders to avoid or drop shares. The US Securities and Exchange Commission will be looking into the Facebook IPO, with the Financial Industrial Regulatory Authority also expressing concern, particularly as this resulted in non-institutional investors with more shares than they had intended. With Facebook shares expected to be scarce, some investors over-ordered in the belief that they might miss out if they didn't, leaving them more exposed than they had planned.
Now AAPL Stock: 94.12 ( + 0.42 )
iPad Air 3, iPhone 5se sold Friday after launch?
Reverting the way products are actually released by Apple after an announcement to the way it was a decade ago, reports are circulating that new products revealed at a March announcement will go on sale the Friday immediately following the unveil. Slated to appear at a conjectural Tuesday, March 15 event are a new Apple four-inch phone with more up to date internals currently referred to as the iPhone 5se, and a new iPad Air 3 model with Smart Connector and other enhancements. http://bit.ly/1o7mqiY
Lexmark prevails in toner import appeal
Printer manufacturer Lexmark has won an appeal on the third-party US resale of its printer cartridges originally destined for markets outside North America. The appeals court ruled in a 10-2 vote in favor of Lexmark's demand to stop the sale and against Impression Products, both on the toner cartridge resale matter, as well as a related matter regarding overturning the reseller's refilling one-use cartridges and selling those in the US market. The ruling has ramifications in the tech industry, as well as the pharmaceutical and medical technology markets. Impression Products promises an appeal before the supreme court. http://reut.rs/1SLVmmG
AT&T expands BOGO promo to iPhone 6s
Beginning today, new and existing AT&T customers can purchase a new iPhone 6s and get another one free when adding a second line. Over the weekend, customers must purchase two phones through AT&T Next (one can be an existing number), and add both phones to a qualified plan. AT&T notes that "after three bill cycles or less" the account will start to receive up to $650 spread out over 30 monthly bill credits to offset the cost of the installment plan for the phone. Taxes are due at time of sale. http://soc.att.com/1SLUP4k
Google prevails in UK street mapping case
Possibly setting the stage for other court battles in the UK, a High Court fight between Google and StreetMap.EU has concluded in Google's favor. StreetMap.EU claimed that Google's dominance in the field destroyed the 20-year-old firm's business, when Google started promoting its own service in search results over the older company's -- the judge disagreed. Commercial director Kate Sutton said after the judgment that "StreetMap has been frozen in time; because of what Google did, StreetMap has not been able to properly invest in the website since 2007." An appeal is planned. http://bloom.bg/1KKhECt
TestFlight updated for iOS, watchOS
Apple on Thursday updated its developer-oriented TestFlight software to version 1.3.2 for compatibility with apps being developed for iOS 9.3 watchOS 2.2, along with the usual "stability and performance improvements." Some developers, however, are still reporting some issues loading beta apps onto the watchOS 2.2 beta. The latest beta for developers was released on Monday, and is available through the App Store or Apple's developer portal. [3.60MB] http://apple.co/1PQ64pF
CBS: No recent streaming conversations with Apple
CBS CEO Les Moonves has made remarks, casting doubt on a launch of Apple's live streaming television service. In interviews this week, the executive said regarding negotiations with Apple that "we had conversations awhile back, and we haven't had recent conversations with them," adding that "the phone is always ringing" regarding similar services, but not with Apple on the line. http://cnnmon.ie/1PptJM6
Complex date setting bug crashes 64-bit iOS device
A serious bug has been spotted with iOS devices running iOS 8 or newer, with a 64-bit processor. If a user disables auto-check time, and manually sets the date of a device back to as far as it will go, then again to January 1, 1970, and finally rebooting, the iPhone is crashed, perhaps terminally. The bug affects the iPhone 5s and newer devices, running a processor from the A7 and up. Theories abound as to the cause of the crash, but the most credible seems to be a clock set to less than an arbitrary "zero" date, causing all manners of routines relying on the time setting to fail during startup. http://bit.ly/1TV6psS