Updated:06/24, 6:50pm, EDT
macnn: tag: stock
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Fortune: who is next Apple CEO, Jobs' successor?

June 24 - 6:50pm EDT   With concerns about Steve Jobs' health surfacing again after his gaunt appearance at Apple's World Wide Developers Conference earlier this month, Fortune has put together a list of 11 possible successors -- all of them from inside the company. While Apple has said Jobs made a complete recovery from a rare form of pancreatic cancer following surgery in 2004, it hasn’t stopped widespread speculation in the media, and may be impacting Apple’s stock price. So, it’s not surprising that even the old media financial press is asking who could fill Jobs' shoes. At the top of Fortune’s list: Jobs’ right-hand man Tim Cook, Apple's Chief Operating Officer. [full story]

AT&T resumes three-a-customer iPhone limit

May 16 - 3:55pm EDT   AT&T is allegedly reversing its position on limiting iPhone sales to one per customer, and returning to the company's former three-per-customer rule after finding sufficient stock of the device to do so. InformationWeek writes that the announcement only comes after one day of restricted sales, but AT&T is supposedly restricting sales of the iPhone to credit and debit card purchases. AT&T would not comment on inventory levels of the device. [full story]

Analyst raises AAPL target to $195 on Mac growth

April 7 - 8:45am EDT  Research firm Thomas Weisel Partners (TWP) on Monday upgraded Apple stock and set a target price of near its previous trading high, noting that the current price severely discounts the long-term growth potential and that any risk for a near-term earnings shortfall has faded. While most analysts have focused on the impending launch of Apple's "3G iPhone" that runs on AT&T's faster mobile network, analyst Doug Reid said that Apple will continue its longer-term growth through its core Mac business as well as continued roll-out of the iPhone to additional countries. [full story]

RBC: Strong post holiday sales diminish iPhone stock

April 3 - 7:55pm EDT   As Apple's stock of iPhones grows increasingly thin – an issue that reportedly initially surfaced in the company's New York retail stores – RBC Capital theorizes the shortage to be representative of unanticipated strong post-holiday sales of the device. According to Tech Trader Daily, analyst Mike Abramsky claims that a predicted slowdown should have occurred after the holiday season, but sales remained strong, which leaves Apple short-handed with its allegedly ramped down production scale. [full story]

Apple execs make $75 million after stock exercise

March 27 - 8:40pm EDT  Apple's executive team – with the exception of CEO Steve Jobs and General Counsel Daniel Cooperman – were forced to deal with restricted stock units that were due to expire. Phil Shiller, Bertrand Serlet, and Ron Johnson have each converted 250,000 restricted stock options to shares, and each gave up over 113,000 shares to pay for expenses regarding the matter. This was due to a decision of performing a net-share settle, at a cost of $139.53 per share. [full story]

Apple's cash could benefit investors

February 29 - 4:40pm EST   Apple's cash reserve of $18.5 billion could benefit shareholders in a big way moving forward, according to BusinessWeekcolumnist Arik Hesseldahl. The cash amounts to $21 for each share of company stock, and Hesseldahl believes Apple should return some of that money to shareholders in the form of a buyback. "The time to buy back Apple stock is now," he writes. Shares are 40 percent below a historic high, and Wall Street is focusing on concerns that Apple will suffer as the economy slumps. [full story]

Yahoo CEO Jerry Yang personally reassures investors

February 13 - 11:30pm EST   Yahoo CEO Jerry Yang today sent a letter to the company's stockholders in an attempt to reassure investors of its stance on the Microsoft deal. Yang claims that Yahoo is positioned to increase its value by around 60-percent by 2010, by emphasizing on its current business model. Citing the company's Panama search marketing system, Right Media buyer/seller meet-up service, and Blue Lithium marketing system, Yahoo is poised to grow its $2 billion in cash reserves to the double-digits by 2009. [full story]

Top investor urges MS to raise bid, Yahoo reconsider

February 12 - 11:00pm EST   After an ongoing civilized dispute between the two companies [1|2|3], a major Yahoo investor pleaded with Microsoft to raise its bid of $42 billion in an effort to stay the deal. In addition, the second-largest investor scorned Yahoo's pride, saying that they have few options left for a satisfactory buyout. According to Reuters, Bill Miller, the lead stock-picker for Legg Mason, assessed in a quarterly letter to investors Yahoo's true worth to be $40 per share, $9 more than Microsoft's original bid. [full story]

Microsoft responds to Yahoo snub

February 11 - 11:50pm EST   In response to Yahoo's open rejection of Microsoft's proposed buyout, Microsoft issued a statement countering Yahoo's claim that the offer was undervalued. The software giant said that shareholders on both sides would benefit greatly from the merger, and that a timely transaction would be "in the best interests of all parties". Microsoft also urged investors to consider the positive side of having a combined company, highlighting an "exciting set of solutions for customers," as well as a stronger online front. [full story]

Apple makes Citigroup's Top Picks Live, share boost

February 11 - 4:30pm EST   Apple stock was subject to slight gains as Citigroup added the Cupertino-based company to it Top Picks Live list, which allowed the computer manufacturer to maintain a Buy rating, with a target of $212 per share. According to AppleInsider, shares of the company have been on a slight rollercoaster ride since its December peak of $199.83, taking a total hit of 37-percent since that time. Citigroup expects Apple's earnings per share will beat consensus by 10 cents, possibly more, for its predicted March quarter. [full story]

Jobs urges investors to "hang in there"

January 28 - 5:40pm EST   Apple CEO Steve Jobs acknowledged the current instability of the company's stocks, but urged investors to remain confident due to Apple's current and future strengths. In a letter obtained by AppleInsider, Jobs points out that the company has over $18 billion in cash reserves, as well as a lack of debt, and over 200 retail locations. In addition, he mentions that Apple's staff, focused strategy, and new product lines are indicative of having much room to grow. [full story]

Apple execs net total of $26.6m for 2007

January 23 - 11:30pm EST   Apple's executive officers have taken home a considerable sum during 2007, with salaries ranging from $500,000 to $700,000, and stock option grants equaling that of the individual’s base salary. Despite his infamous $1 yearly salary, CEO Steve Jobs still holds the majority of company stock with 5.5 million shares, 5 million of which was a gift from the company in March 2003. Jobs also received a $43.5 million Gulfstream V jet as a bonus for outstanding performance from 1997 to 1999. [full story]

Apple annual shareholders meeting: March 4

January 23 - 9:15pm EST  Apple has officially announced its annual meeting of shareholders, where stockowners will elect the company's Board of Directors and ratify the appointment of KPMG LLP as Apple's independent registered public accounting firm for fiscal year 2008. Also on the agenda are considerations for two shareholder proposals, which are listed below. The meeting is scheduled to take place on March 4th at 10:00 a.m. local time in Building 4 on the company's Cupertino campus. [full story]

Apple's stock down over 12% after-hours

January 22 - 5:50pm EST   Apple's shares plummeted in after-hours trading today, nearly $19 per share or just over 12 percent to stand at $136.82 as of 5:35PM ET. Shares had already lost about 3.5 percent during normal trading hours on volume of about 85 million. That means Apple's shares are off more than 30 percent from their 52-week high of $202 reached in late December, 2007. Propelling the earnings decline was Apple's earning forecast. For its second quarter, Apple expects earnings of about 94 cents per share on about $6.8 billion in revenue. Analysts expected earnings of $1.09 per share on revenue of $6.98 billion. This despite the fact that Apple is predicting a 29 percent increase in ... [full story]

Analyst: Apple will hit $600 in 18 months

December 27 - 3:40pm EST   Apple's stock price repeatedly rose this week to finally break the $200 mark yesterday in afternoon trading, but one financial analyst expects the Cupertino-based company to reach $600 within 18 months. "There's so much growth to look forward to for the iPhone," said Stephen Coleman, chief investment officer at Daedalus Capital. Coleman said Apple gets roughly 30 percent of iPhone fees charged by carriers, according to Bloomberg, while Wall Street estimates place Apple's slice of the revenues somewhere between 5 percent and 20 percent. [full story]
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