Top 10 News Items for 01/07 to 01/11: BofA Ends Battle with Sallie; Record Sales at AT&T; A Cheaper iPhone?; Herbalife Tested
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Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.3%
Revenue Growth %: +5.4%
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1. Bank of America (NYSE: BAC) had a monster week. The bank announced a new mortgage-related settlement with Fannie Mae on Monday and also sold billions in mortgage-servicing rights. Shares also hit a new 52-week high at $12.20, the first time getting above $12 since May of 2011.
2. AT&T (NYSE: T) reported record smartphone sales of 10 million units in its most recent quarter, notably led by Apple iOS and Google (Nasdaq: GOOG) Android devices. CEO Ralph de la Vega commented that AT&T sold 110,000 smartphones each day through the quarter. For more on the numbers, click here.
3. Think bidding for Clearwire (Nasdaq: CLWR) is done? That's what Sprint (NYSE: S) thought, too. Unfortunately, DISH Network (Nasdaq: DISH) had other ideas. On Tuesday, DISH placed a $3.30 per share bid for Clearwire.
Given Sprint's majority ownership and SoftBank's resistance to anything over $2.97, it will be interesting to see how this plays out.
4. Chatter surrounding Herbalife was rather mum to start off the week, until Dan Loeb's Third Point disclosed a 8.24 percent stake on Wednesday, just one day before the Company was slated to hold a conference to address issues made by another hedge fund titan, Bill Ackman. Click here to see how the week played out.
One thing to note is investors' uncertainty with CEO Michael Johnson. As Ackman has clamped down, Johnson appeared to know less and less about distributors and their sales numbers, an item that might be of concern for some. Not so much for others, so long as the profit keeps moving higher.
5. SUPERVALU, Inc. (NYSE: SVU) ended the week on a positive note after entering a deal with Cerberus that saw five banners get sold for about $3.3 billion. In addition, Cerberus plans to acquire 30 percent of SUPERVALU in a $4 per share tender offer. For more, click here.
6. Sears Holdings (Nasdaq: SHLD) had a changing of the guard this week when CEO Louis D'Ambrosio resigned his position due to a family matter. Stepping into the role would be Chairman Eddie Lampert.
7. Boeing (NYSE: BA) ended the week mostly lower following several publicized incidents with its 787 Dreamliner. Though executives chalked it up to "growing pains," the headlines of electrical fires and fuel leaks are not what you want to see with your companies flagship product, despite the billions of dollars put in development and millions of hours in testing.
For more on the 787 news, click here.
8. Alcoa (NYSE: AA) 'unofficially' kicked-off fourth-quarter 2012 earnings season with...somewhat of a bang. EPS was six cents on revs of $5.9 billion, versus consensus views calling for EPS of six cents and revs of just $5.6 billion. Will this be telling for the rest of the pack?
For a summary, click here.
9. Nokia (NYSE: NOK) blew most of the market away when it issued preliminary fourth-quarter numbers on Thursday. Lumia unit sales were 4.4 million while Nokia expected underlying profitability for its Devices & Services unit. Shares of Nokia finished the week out up 12.4 percent.
For more on the results, click here.
10. Apple (Nasdaq: AAPL) was pressured all week as chatter of a lower-cost iPhone was making the rounds. Though one executive said such a device wasn't in the works, the market generally doesn't lie. Apple saw a 1.3 percent drop this week.
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2. AT&T (NYSE: T) reported record smartphone sales of 10 million units in its most recent quarter, notably led by Apple iOS and Google (Nasdaq: GOOG) Android devices. CEO Ralph de la Vega commented that AT&T sold 110,000 smartphones each day through the quarter. For more on the numbers, click here.
3. Think bidding for Clearwire (Nasdaq: CLWR) is done? That's what Sprint (NYSE: S) thought, too. Unfortunately, DISH Network (Nasdaq: DISH) had other ideas. On Tuesday, DISH placed a $3.30 per share bid for Clearwire.
Given Sprint's majority ownership and SoftBank's resistance to anything over $2.97, it will be interesting to see how this plays out.
4. Chatter surrounding Herbalife was rather mum to start off the week, until Dan Loeb's Third Point disclosed a 8.24 percent stake on Wednesday, just one day before the Company was slated to hold a conference to address issues made by another hedge fund titan, Bill Ackman. Click here to see how the week played out.
One thing to note is investors' uncertainty with CEO Michael Johnson. As Ackman has clamped down, Johnson appeared to know less and less about distributors and their sales numbers, an item that might be of concern for some. Not so much for others, so long as the profit keeps moving higher.
5. SUPERVALU, Inc. (NYSE: SVU) ended the week on a positive note after entering a deal with Cerberus that saw five banners get sold for about $3.3 billion. In addition, Cerberus plans to acquire 30 percent of SUPERVALU in a $4 per share tender offer. For more, click here.
6. Sears Holdings (Nasdaq: SHLD) had a changing of the guard this week when CEO Louis D'Ambrosio resigned his position due to a family matter. Stepping into the role would be Chairman Eddie Lampert.
7. Boeing (NYSE: BA) ended the week mostly lower following several publicized incidents with its 787 Dreamliner. Though executives chalked it up to "growing pains," the headlines of electrical fires and fuel leaks are not what you want to see with your companies flagship product, despite the billions of dollars put in development and millions of hours in testing.
For more on the 787 news, click here.
8. Alcoa (NYSE: AA) 'unofficially' kicked-off fourth-quarter 2012 earnings season with...somewhat of a bang. EPS was six cents on revs of $5.9 billion, versus consensus views calling for EPS of six cents and revs of just $5.6 billion. Will this be telling for the rest of the pack?
For a summary, click here.
9. Nokia (NYSE: NOK) blew most of the market away when it issued preliminary fourth-quarter numbers on Thursday. Lumia unit sales were 4.4 million while Nokia expected underlying profitability for its Devices & Services unit. Shares of Nokia finished the week out up 12.4 percent.
For more on the results, click here.
10. Apple (Nasdaq: AAPL) was pressured all week as chatter of a lower-cost iPhone was making the rounds. Though one executive said such a device wasn't in the works, the market generally doesn't lie. Apple saw a 1.3 percent drop this week.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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Daniel Loeb, Edward Lampert, RBS Partners, ESL Investments, William Ackman, Cerberus Capital, Bank of America, Third Point LLC, StreetInsider.com Top 10 News Items for the Week, Hedge Funds, Earnings
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