Ultimate Market Recap: Big Banks Face More Cyber Attacks, New Nooks Rival IPad

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Morning Buzzers: RIM Jumps 3%, Apple in the Red Again

Shares of Research in Motion (NASDAQ:RIMM) jumped more than 3 percent this morning. On Tuesday, the company said its subscriber base now totals more than 80 million users, compared to 78 million in the first fiscal quarter report in late June. Many analysts were expecting a decrease in the user base. Research in Motion also said its BlackBerry 10 mobile operating system is on track to be released in early 2013 and will contain native apps from Facebook (NASDAQ:FB) and LinkedIn (NYSE:LNKD).

Google (NASDAQ:GOOG) shares edged slightly lower Wednesday morning after hitting new all-time highs this week. The search giant continues to receive upgrades from analysts — Citigroup’s Mark Mahaney recently raised his price target to $850 from $740, while Capstone Investment analyst Rory Maher increased his target to $910 from $830.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Apple (NASDAQ:AAPL) shares are down this morning for the third consecutive day. However, the supply concerns over the iPhone 5 launch may be nearing an end. Jefferies analyst Peter Misek explains that Apple may be close to solving its component constraints problem after adding Sony (NYSE:SNE) to the list of suppliers for the in-cell displays used in the iPhone 5. Expanding the list, which also includes LG Display (NYSE:LPL) and Japan Display, has “alleviated what was the main bottleneck” in the production of the phone, writes Misek in a recent note to investors.

Shares of Jabil Circuit (NYSE:JBL) fell more than 9 percent after reporting financial results for its fourth quarter. Net income declined 27.6 percent to $82.8 million (39 cents per share), compared to $114.3 million (52 cents per share) a year earlier. The results fell short of the mean analyst estimate of 51 cents per share.

Investor Insight: AT&T versus Verizon: Who is Winning the iPhone 5 Launch?

Dell Faces Falling Panel Prices and 4 Hot Stocks Turning Heads

Dell Inc. (NASDAQ:DELL):  According to DigiTimes, who cited data from Display Search, 13-inch notebook panel prices have dropped about 50c in September, while 14- and 15-inch panel prices fell about $1. Industry sources attributed the decline to notebook makers being conservative about the prospects for Microsoft’s (NASDAQ:MSFT) upcoming Windows 8..

Blyth, Inc. (NYSE:BTH):  ViSalus management announced that they have withdrawn their initial public offering due to uncertain market conditions. Commenting on the announcement, Ryan Blair, Chief Executive Officer of ViSalus, said, “The exceptional performance of our incredible field of Promoters and leaders, and our world-class management team, deserve a time and a setting in which an industry-changing company like ViSalus will be celebrated. With Net Sales growth of more than 450% during the first half of 2012 versus  the prior year we continue to build a North American household brand. We have complete confidence in our long-term growth prospects and we have the team on board to achieve our goals.” ViSalus is majority-owned by Blyth Inc.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Yahoo! Inc. (NASDAQ:YHOO):  Fortinet (NASDAQ:FTNT) disclosed in a regulatory filing that Ken Goldman notified them that he is resigning as Chief Financial Officer and effective October 19, he will join Yahoo! Inc., as their CFO. Fortinet has appointed Nancy Bush, their current Vice President Worldwide Corporate Controller as interim Chief Financial Officer effective immediately. They are initiating a search for a CFO and are considering internal and external candidates. Prior to joining Fortinet, Bush was VP of Finance at ArcSight, a security information management company that was acquired by Hewlett-Packard (NYSE:HPQ) in October 2010.

Bank of America (NYSE:BAC):  According to The Los Angeles Times, Wells Fargo’s (NYSE:WFC) electronic banking operations were apparently victimized by cyber attacks similar to those seen recently at Bank of America, Citigroup (NYSE:C) and JPMorgan (NYSE:JPM). A group claiming responsibility said that they would target U.S. Bancorp (NYSE:USB) and PNC Financial (NYSE:PNC) next.

Facebook, Inc. (NASDAQ:FB):  According to the Wall Street Journal, Facebook Inc.’s  problematic initial public offering last May is becoming a potential legal mess for the social-networking firm, their investment bankers and the exchange where they went public. Lawyers involved in the cases have said that approximately 50 lawsuits have been filed against Facebook, Nasdaq OMX Group (NASDAQ:NDAQ) and underwriters of the IPO.  In addition to this, Facebook investors said that they expect hundreds of arbitration claims to be launched against brokers and securities firms that pushed their shares.

Don’t Miss: Yahoo!’s Fresh New CFO Adds to This Turn-Around.


Safeway Beef Part of Nationwide Recall and 4 Hot Stocks Seeing Action

Apple Inc. (NASDAQ:AAPL): Barnes and Noble revealed its new lighter and thinner hi-definition tablets which have the ability to accommodation to multiple as it attempts to make a deeper impact in the tablet market. The prominent U.S. bookstore chain revealed  the new devices which will be priced at about $199 for a 7-inch Nook HD tablet with 8 gigabytes of memory and $299 for a 9-inch Nook HD+ tablet, this size is comparable to Apple’s iPad, with 32 GB of memory. IPad prices are nearly double the price of the Nook.

American Greetings Corp. (NYSE:AM) CEO Zev Weiss and President and COO Jeffrey Weiss stated in a regulatory filing that a letter was sent to its Board of Directors discussing Zev and Jeffrey Weiss’ consideration of pursuing a transaction, including additional members of the Weiss family and related parties, for the acquisition of all of outstanding Class A common shares of the company and Class B Shares that are not owned by the Weiss Family as of now. The Weiss family made a proposition for the acquisition ofAmerican Greetings at $17.18 per share, net to the seller in cash. Weiss and Irving Stone will most likely reinvest or rollover all or substantially all of their Class B Shares in the acquiring entity, but they are under no obligation. If the transaction is consummated, the Class A Shares would no longer be traded on the New York Stock Exchange and the registration of the Class A Shares and Class B Shares under Section 12 of the Exchange Act would be terminated.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Barnes & Noble, Inc. (NYSE:BKS) introduced its NOOK HD and NOOK HD+. These devices are very quick and lightweight 7-inch NOOK HD and 9-inch NOOK HD+ with improved displays for reading and entertainment along with an instantly personalized tablet experience if it is used by multiple people.NOOK HD claims that it has the world’s highest-resolution ever on a 7-inch tablet and NOOK HD+ give competition to the industry-leading tablet’s display. The device’s price starts at $199 for NOOK HD and $269 for NOOK HD+, which is about half the cost of the top large-format tablet, and both products have a great value. With the device, users are able to obtain up to 3 million books, a large selection of magazines and apps, and with the new NOOK Video and NOOK Catalog content, NOOK HD and NOOK HD+ will provide endless reading and entertainment.

Google Inc. (NASDAQ:GOOG) and Samsung (SSNLF) executives have a meeting scheduled for today in Seoul for discussions related to Apple (NASDAQ:AAPL), according to Business Insider. The Korean Times has stated that Samsung has been considering bringing Google into its battle with Apple “to seek royalties for patents”.

Safeway Inc. (NYSE:SWY) was informed by Interstate Meat Distributors that a small amount of ground beef products that was produced for the company included trimmings subject to XL Foods Inc.’s expanded recall. The USDA Food Safety Information Service’s has issued an expanded public health alert for raw boneless beef trim products that were imported from Canada by XL Foods Inc. This meat is possibly contaminated with E. coli O157:H7, and Safeway has made the decision to expand its Sept. 22 recall of ground beef items so that it will include more dates and states. Safeway stores located in Idaho, Montana, Oregon, and Washington (State) will be a part of the recall, which is for all fresh ground beef sold at the self-service meat cooler and the full-service meat counter having Sell By dates of 08-28-12 to 09-23-12. This will also be for every item containing fresh ground beef as an ingredient, including meatballs, sliders, gourmet burgers, etc.

Don’t Miss: IBM Takes Aim at This New Market.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business