Copyright © 2015
Tag - Shareholders
Under new rules adopted by Apple in a recent amendment of its corporate bylaws, one of the eight seats on Apple's Board of Directors could be nominated by a group of shareholders who meet certain ownership requirements, otherwise known as "proxy access" to the board. According to the Securities and Exchange Commission filing, proxy access could be used by a shareholder or group (of up to 20) that hold at least three percent of Apple Shares for at least three years, giving some powerful shareholders a potential chance to nominate their own choices for the board.
Former Apple manufacturing partner and sapphire crystal furnace manufacturer GT Advanced Technologies may soon be able to emerge from bankruptcy, following the filing of a new plan with the court that would see $60 million in new debt and $20 million in preferred stock put up by lenders early next year -- however, the plan does not include any compensation for shareholders or other investors. Under the proposal, ownership of the company would be transferred to creditors, which may still include Apple.
The annual Apple shareholders' meeting was held on Tuesday at Apple headquarters in Cupertino, with shareholders re-electing the entire board of directors, expressing confidence in the management team, and following Apple's recommendations on various proposals. The board was re-elected with 95 percent approval, but Apple CEO Tim Cook notably avoided questions about diversity on Apple's board, as well as shareholder questions about a possible Tesla relationship.
Telecommuncations carrier Verizon has often said that it supports the concept of net neutrality, but its actions undermining the concept have annoyed investors, who are now putting pressure on the firm to embrace the concpt. A group of shareholders represented by the Nathan Cummings Foundation and Trillium Asset Management, has re-submitted a proposal expressing support of net neutrality, lack of support for "paid prioritization," and calling for Verizon management to comply.
Comcast and Time Warner Cable have jumped at least two hurdles on their way to merging into one company. This week the majority of Comcast and Time Warner Cable shareholders voted to approve the deal for the merger. However, it appears that another problem has surfaced with the government of second-largest city that Time Warner Cable serves.
Video game developer Capcom may be left vulnerable to a stock buyout after shareholders failed to meet a majority number of votes to renew a takeover defense this week. Capcom first issued the takeover defense in 2008 to combat large-scale share purchases to gain a voice within the company. It was indicated that the company was looking to issue a renewal when it posted the 25-page plan in May.
Tech analyst Gene Munster of Piper Jaffray has told investors in a new memo that he expects "moderate" increases in both Apple's share-buyback program and its dividend to shareholders, likely to be announced during the company's next earnings call, scheduled for April 23. This belief, he noted, is already "priced into" shares of AAPL and is unlikely to take price any higher in and of itself. The current quarterly dividend, raised last year, is $3.05 per common share.
Shareholders in Sprint have "overwhelmingly" approved the proposal by SoftBank to acquire with the carrier. A vote saw approximately 98 percent of votes cast in favor of the deal at a special shareholders meeting earlier today, which now leaves only the Federal Communications Commission as the last regulator to weigh in before the deal can be completed.
In an initial hearing on the lawsuit between David Einhorn's Greenlight Capital and Apple, where the former party is attempting to prevent a shareholder vote on a "preferred stock" proposal, a judge has sided with Einhorn and found that Apple could be breaking US Securities & Exchange Commission rules by "bundling" three issues into one shareholder voting item. At the same time, the judge didn't indicate that he couldn't find any "irreparable harm" in the proposal, lessening chances of an injunction.
Apple filed its formal response to the lawsuit initiated by Greenlight Capital's David Einhorn and blasted the complaint as being without merit and nothing less than an attempt to hold shareholders "hostage" by forcing Apple to acquiesce to a specific plan for the issuing of preferred shares that would primarily benefit Greenlight Capital. Having promised to review Einhorn's plan, the company found that Greenlight's proposal was self-serving, and that Einhorn himself referred to it as a "roadblock."
Now AAPL Stock: 95.01 ( + 0.99 )
Swift benchmarking suite goes open-source
Following the release of new betas for all its platforms, Apple on Monday also made a suite of 75 tools for benchmarking Swift-developed coding projects, including libraries for benchmarking functions, a utility for comparing the resulting metrics, and a driver for running them. The company says it is asking the community for help in developing additional benchmarks, as well as further "helper" libraries and overall code review for better stability and performance. Apple plans to include benchmark pull requests in Swift's new continuous integration system as well. http://bit.ly/1W8u0EU
Instagram now supporting multiple accounts
As reported earlier, Instagram is now rolling out support for multiple accounts (up to five) in version 7.1.5 of its iOS app. The feature has been one of the main attractions of third-party Instagram clients, but it is unclear if users must seek out an "add account" preference in the app; additionally, some users are reporting that the ability to add accounts has not yet been added. The company says notifications "depend on when you last logged in, and the number of devices that are logged into that account," suggesting not all notifications across accounts will appear when logged into a given one. http://bit.ly/1moh95p
Pictures of Galaxy S7, Edge leaked
New images have been leaked of Samsung's new Galaxy S7 and S7 Edge. The images of the Galaxy S7 are very similar to a draft leaked earlier this year, with a curved back reminiscent of the iPhone 3G with the normal Samsung camera hump in the upper center of the phone. The picture of the Galaxy S7 Edge as leaked is running a benchmark application showing modest improvements over the S6 line, if accurate. Both models are expected to be formally announced in a February 21 press event hosted by Samsung. http://bit.ly/20Gf07X
Bambooti wooden skins for MacBooks
Bambooti has introduced premium wooden skins for Apple laptops that allow users to customize any design or logo directly on the case. Each Bambooti skin is handcrafted from sustainably managed forests, and are hand sanded and spray-finished to create an ultra smooth exterior. Bambooti's wooden skins start at $65 on the fully-funded Kickstarter which includes a custom design or logo of the user's choice that will be engraved on the product. http://kck.st/1PhE6Sb
Apple Music in Taiwan, now up to 113 countries
Apple Music has now added its 113th country, Taiwan, to its expanding list of areas where it offers its paid subscription service. The price in the country will start at NT$150 (about $4.50 US) for an individual subscription, and that now includes (as it does in the rest of the world) the formerly free-but-ad-supported iTunes Radio feature, which as in other countries will be customized somewhat to offer channels of locally-popular music styles. Apple Music is now available in 16 countries and regions -- including China, India, Russia, and Japan -- where Spotify has not yet arrived.
Invisible wall mount for iPad Pro, mini
Computing hardware mounting company Wall-Smart has announced the availability the new "invisible" wall mount, with models for the iPad Pro, iPad Air 2 and iPad mini 4 -- all with no bezel. The invisible mount includes Power Over Ethernet to USB, which allows charging while in-wall, and is available for both drywall and solid surfaces such as solid wood panels or partition walls. Prices vary widely by iPad model, and required mounting hardware. http://bit.ly/1SE5jCO
Kingston buys IronKey secure USB tech
Kingston Digital today announced it has acquired the USB technology and assets of IronKey from Imation. In addition to Kingston's acquisition, encryption services leader DataLocker has purchased the IronKey Enterprise Management Services platform which provides centralized management to encrypted USB drives. Kingston and DataLocker claim that there will be no interruption in service provided, or available products as a result of the consolidations. http://bit.ly/1QQk9SZ