Top 10 News Items 09/04 - 09/07: Where Are the Jobs?; Draghi Fires-Up Markets; Facebook CEO Pauses on Sales; Intel Issues Warning


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Top 10 News Items 09/04 - 09/07:
  1. Early Friday morning, nonfarm payrolls showed gains for the month of August. Gains are always good, but the addition of 96,000 jobs missed expectations calling for adds of 130,000.

    July payrolls were revised lower from 161,000 down to 141,000 adds.

    Click here for more color.

  2. On Thursday, ECB president Mario Draghi gave a little hope to traders, saying the Bank will run an unlimited bond-buying plan that will target distressed debt in the euro zone. He also called on other euro-area leaders to take a stand and be prepared "to activate the EFSF/ESM in the bond market when exceptional financial market circumstances and risks to financial stability exist."

    Click here for more.

  3. In an SEC filing this week, Facebook (Nasdaq: FB) said Mark Zuckerberg has decided not to adopted a Rule 10b5-1 Plan and has informed the company that he has no intention to conduct any sale transactions in Facebook securities for at least 12 months.

    Zuckerberg currently holds in aggregate approximately 444 million shares of Class B common stock as well as 60 million shares of Class B common stock issuable upon the exercise of an option.

    The move shows continued confidence in the company he founded and shares close the week out about $1.5 better than last Friday as a result. For more on the move, click here.

  4. Sending a signal to the rest of the sector, Intel Corp. (Nasdaq: INTC) cut expectations for third-quarter sales, now seeing revs of $13.2 billion, plus or minus $300 million, compared to the previous expectation of $13.8 billion to $14.8 billion. The Street was at $13.62 billion prior to the announcement.

    Intel said it is seeing "customers reducing inventory in the supply chain versus the normal growth in third-quarter inventory; softness in the enterprise PC market segment; and slowing emerging market demand." Click here for more color on the outlook.

  5. On Wednesday morning, Nokia (NYSE: NOK) took the wraps off its next smartphone series, the Lumia 820/920. The press release is here.

    Despite hype being built up into the event, the final product was very...well...familiar. To be blunt, it looks like a Lumia 900, with a few more colors. The device does run Windows Phone 8, a key feature, as current Windows Phone models will not be able to upgrade to the new operating system.

    Analysts were mixed on the launch of arguably one of the key products Nokia is placing its beans on to keep the company relevant. Mostly, none were that impressed. Click here for analyst comments following the launch.

  6. Parcel giant FedEx (NYSE: FDX) became macabre on Tuesday, cutting expectations for fiscal first-quarter 2013 earnings. FedEx lowered its EPS outlook from $1.45 to $1.60 down to $1.37 to $1.43. The Street was at $1.56.

    The move was largely due to revenue constraints at its FedEx Express unit. For more, click here.

  7. U.S. auto sales were robust in August, rising 19.9 percent to about 1.3 million units, the best month since the U.S. implemented a 'Cash for Clunkers' buying program. The number puts the SAAR at 14.5 million units.

    In total, Ford (NYSE: F) reported at 13 percent rise to 196,749 units, General Motors (NYSE: GM) posted a 10 percent gain to 240,520 units, Chrysler sales rose 14 percent to 148,472 vehicles, and Toyota (NYSE: TM) sold 46 percent more at 188,520 vehicles.

  8. Pandora (NYSE: P) slumped Friday following reports that Apple was seeking to enter the Internet radio marketplace. The WSJ reported that Apple might produce virtual "stations" which would play similar music to a song or artist of the user's choosing. The music could then be streamed via Intenet browser or smartphone app.

    For more, click here.

  9. Medicis Pharmaceutical (NYSE: MRX) holders got a nice gift this week, when the pharma and Valeant Pharmaceuticals (NYSE: VRX) agreed to a deal whereby Valeant would acquire Medicis in a deal valued at $44 per share.

    The transaction, which values Medicis' common stock at approximately $2.6 billion, was unanimously approved by the Boards of Directors of both companies. The $44.00 per share price represents a 39% premium to Medicis' closing share price on Friday, August 31, 2012, the last trading day prior to announcement, and a 31% premium to the three-month average trading price. Click here for more color.

  10. Apple affirmed it would be holding an event next week, which many speculate will be for the highly-anticipated iPhone 5. Per usual, Apple will hold its event at the Yerba Buena Center for the Arts Theater in San Francisco, California.


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