Ultimate Market Recap: PetSmart to Join S&P 500, Toyota Taps Microsoft

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Wall Street Brief: Boeing Struggles With Labor Contract, PetSmart Joins the S&P 500

Windows 8 Pro tablet development is being held up thanks to Intel’s (NASDAQ:INTC) delayed delivery of power management software, reported Bloomberg. Microsoft (NASDAQ:MSFT) still hasn’t approved any tablets that run from Intel’s Clover Trail Atom CPU, although the latter recently announced a list of devices that will utilize the system from top OEMs.

Boeing’s (NYSE:BA) engineers and technical workers strongly rejected the company’s latest contract offer on Monday. Boeing will again hold talks with the Speea union to hash out a deal for 23,000 employees. Analysts don’t believe the vote will either affect Boeing’s operations or stock in the short term; staff can continue working past the current contract’s Saturday expiration date.

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In other Boeing (NYSE:BA) news, low-cost Brazilian airline GOL Linhas (NYSE:GOL) will purchase 60 of the company’s 737 MAX airplanes, with a 2018 delivery date for the fleet. The order has an approximate $6 billion value, representing the largest ever from a South American  airline. To-date, 724 of the 737 MAXs have been ordered.

New York’s Attorney General has sued JPMorgan (NYSE:JPM) on fraud allegations at its Bear Stearns unit for the sale of mortgage-backed securities prior to the financial crisis. The suit notes that investors lost $22.5 billion in securities that Bear Stearns issued prior to its  takeover by JPMorgan.

 ThyssenKrupp (TYEKF.PK) may sell its two-year-old $5 billion high-tech steel plant in Alabama and its $6.8 billion facility in Brazil after a strategy to move slabs from the latter facility for processing into high-grade sheets resulted in large losses. Those supposedly interested in the Alabama plant include Nucor (NYSE:NUE), U.S. Steel (NYSE:X) and ArcelorMittal (NYSE:MT).

On Thursday after the market’s close, PetSmart (NASDAQ:PETM) will be added to the S&P 500, replacing Sunoco (NYSE:SUN) after its buyout by ETP (NYSE:ETP). Cabela’s (NYSE:CAB) will take over PetSmart’s S&P MidCap 400 position, while Acorda Therapeutics (NASDAQ:ACOR) will replace Cabela’s S&P SmallCap 600 position.

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Morning Movers: Express Plunges 18%, Jamba and Apple Climb Higher

Shares of Express (NYSE:EXPR) dropped more than 18 percent on Tuesday. The apparel chain announced its third quarter earnings would miss its forecast. Higher than normal promotional activity had to be taken in order to reduce inventory levels.

Jamba (NASDAQ:JMBA) shares jumped 2.21 percent this morning after being named a top turnaround stock from Khaner Capital’s Lloyd Khaner. He believes a low debt to capital ratio and an experienced chief executive officer makes it a good investing play. Jamba’s return on invested capital has also been showing signs of improvement.

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Apple (NASDAQ:AAPL) shares ticked slightly higher this morning. A major Apple investor recently told Fortune that he had heard from “multiple sources” that invites will be sent out on October 10 for an iPad Mini media event scheduled for Wednesday, October 17.

Shares of Oracle (NASDAQ:ORCL) continued to climb higher in morning trading by popping 0.19 percent. At a customer conference in San Francisco, Oracle CEO Larry Ellison announced that the company will be adding infrastructure as a service to its Oracle Public Cloud. Oracle’s computing on demand services are quickly taking aim at those offered by Amazon (NASDAQ:AMZN) and Google (NASDAQ:GOOG).

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Bank of America (NYSE:BAC): Nearly 1.2 million shares of Bank of America was exchanged by investors; this is up $0.11, or 1.23 percent. Bank of America’s Merrill Lynch unit has begun to offer sign-up bonuses reaching $1.5 million as a means to influence leading Morgan Stanley (NYSE:MS) wealth management brokers to switch to Merrill Lynch.

Apple Inc. (NASDAQ:AAPL): TouchPay is a near field communications contactless payments service able to be used on the iPhone 4 and 4S, andVisa Europe (NYSE:V), RBS (NYSE:RBS), and NatWest have all launched it, The Next Web reports. About 9,000 RBS customers signed up to try the service in a span of only three days.

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Facebook, Inc. (NASDAQ:FB) seeks innovative ways to leverage its greatest asset, which is personal data about nearly 900 million people, which resurfaces previous concerns regarding privacy. According to the Wall Street Journal, Facebook may sell access to its users.

AT&T, Inc. (NYSE:T) recently finished an upgrade of the Subsea 7 global IP-based virtual private network, VPN, which doubles its network size. The expanded network now is to cover 30 Subsea 7 sites globally. AT&T has been working with Subsea 7 for more than five years, to deliver wide area network, hosting, and global VPN services. Via the implementation of AT&T’s VPN global network, Subsea 7 has had the ability to consolidate all voice, video, data, along with additional applications on one central VPN.

Nokia Corporation (NYSE:NOK): To aid its cost cutting initiative, Nokia Siemens Networks, which is a 50-50 joint venture between Nokia Corporation and Siemens AG (NYSE:ADR), sold some of its internet protocol television assets to Accenture Plc (NYSE:ACN). The value of the deal has not been revealed.

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Ford Motor Co. (NYSE:F) has reported that its September total utilities saw an 8.7 percent rise. The company also reports that its brand September sales stayed flat, and its Lincoln brand sales fell 3.1 percent.

Mosaic Co. (NYSE:MOS) has stated that global grain and oilseed stocks continue to fall to dangerously low levels. The company also claims that prices should continue to be highly sensitive regarding weather events, and it adds that even if grain, oilseed prices did see a significant decline, it would continue to expect to keep providing strong results. Thes comments made during the Q1 earnings conference call.

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MetroPCS Communications, Inc. (NYSE:PCS) and Deutsche Telekom are close to making a deal, according to Bloomberg.

Illumina Inc. (NASDAQ:ILMN) shares have risen 5 percent, or $2.55, to $51.58 during pre-market trading due to the Times of London’s statement in its market report claiming that Roche could possible consider another bid for the company at $60 per share.

Phillips-Van Heusen Corp. (NYSE:PVH) updated its EPS guidance to show the ongoing strong performance regarding the Tommy Hilfiger business, especially in North America, along with the Calvin Klein business. The company also is in the process of outpacing its planned turnaround in its Heritage Brands wholesale businesses for 2012’s later half.

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Toyota Teams Up with Microsoft and 4 Hot Stocks Seeing Action

Zillow Inc (NASDAQ:Z) share weakness is being blamed on a letter that was posted on the SEC’s website, with a date of August 30, to the Zillow’s CEO Spencer Rascoff. The letter shows the SEC questioning the reasons why the company would avoid revealing the percentage rise in the average price paid for Premier Agent subscriptions.

Toyota Motor Corp. (NYSE:TM) has chosen Microsoft’s technology platforms for the development of its communications and collaboration infrastructure to be used by the Toyota companies globally. Toyota along with additional affiliates in North America started the deployment of Microsoft Office 365-dedicated cloud services as its exclusive environment in June 2012. Toyota is to be leveraging a hybrid model in Japan and along with other overseas locations, with on-premises editions of Microsoft Exchange, Microsoft SharePoint, Microsoft Lync, and Windows Server. Microsoft intends to assist Toyota in offering these services to over 200,000 employees worldwide during the following two years. The goal of this move is to improve support mobile devices, lower costs, and make collaboration better between employees via innovative enterprise social networking, conferencing, messaging, and information-sharing tools.

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Rosetta Genomics, Ltd. (NASDAQ:ROSG) along with privately held Precision Therapeutics announced its commercial release of the miRview mets^2 assay in the U.S. oncology market. miRview mets^2 is a diagnostic tool used by clinicians to evaluate of the Cancer of Unknown/Uncertain Primary patients.

Celgene Corporation (NASDAQ:CELG): Celgene International Sarl, which is a subsidiary of Celgene Corporation, announced the results of its phase III, randomized, international study of ABRAXANE in patients without chemotherapy diagnosed with metastatic melanoma. The primary endpoint was reached in the study with patients that recieved ABRAXANE showing statistically significant improvements regarding progression-free survival versus patients being treated with dacarbazine chemotherapy. The safety profile of ABRAXANE observed in the CA033 study continues to be consistent with other ABRAXANE pivotal clinical trials. This study data is scheduled to be presented at the Society for Melanoma Research Congress 2012 in Los Angeles in November. Because of these results, the future regulatory and clinical strategies are in the process of review.

Microsoft Corporation (NASDAQ:MSFT) gave MSN service some more touchups on Monday, attempting to make it look and feel much like the most recent versions of its other online properties. MSN seems to be attempting to resemble the look and feel of a Windows 8 app, as it scrolls to the right instead of down. Users will likely either love or hate this new feature.

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