Wells Fargo Maintains Market Perform Rating and $140 PT on Apple (AAPL) on Potential Impact from Qualcomm's (QCOM) Litigation Against Contract Manfacturers

Apple (AAPL) Sees Heavy Selling Pressure, Share Down 3%

Apple (NASDAQ: AAPL) sees heavy selling pressure amid the broader market weakness. Shares down 3%.

Active options: AAPL BAC FB AMD NVDA AMZN TSLA MSFT C TGT JPM

Active options: AAPL BAC FB AMD NVDA AMZN TSLA MSFT C TGT JPM

Apple (AAPL) PT Raised to $177 at Morgan Stanley; Retention Rate Rise into Supercycle

Morgan Stanley analyst Katy Huberty raised her price target on Apple (NASDAQ: AAPL) to $177.00 (from $161.00) while maintaining a Overweight rating following a new survey showing a rise in the retention rate.

Huberty notes a new AlphaWise survey points to a 92% US iPhone loyalty rate versus 86% last year.... More

Qualcomm ups ante in fight with Apple, sues four Taiwanese suppliers

(Reuters) - Chipmaker Qualcomm Inc (NASDAQ: QCOM) has escalated its patent battle with Apple Inc (NASDAQ: AAPL), suing Foxconn and three other Taiwanese manufacturers that supply iPhone and iPad components for not paying royalties.

Apple filed a lawsuit against Qualcomm in January, accusing it of overcharging for chips and refusing to pay some $1 billion in rebates - a move that came days after the U.S. government accused the chipmaker of using anticompetitive tactics to maintain a monopoly over key semiconductors in mobile... More

Qualcomm (QCOM) Confirms Filling of Breach of Contract Complaint Against Apple's (AAPL) Manufactures for Non-Payment of Royalties

Qualcomm Incorporated (NASDAQ: QCOM) today filed a complaint in the United States District Court for the Southern District of California against FIH Mobile Ltd. and Hon Hai Precision Industry Co., Ltd., (together known as Foxconn), Pegatron Corporation, Wistron Corporation, and Compal Electronics, Inc., the four manufacturers of all Apple iPhones and iPads sold worldwide, for breaching their license agreements and other commitments with Qualcomm and refusing to pay for use of Qualcomm's licensed technologies. Qualcomm seeks an order that would require the defendants to comply with... More

Apple (AAPL) Assembles First iPhones in India - WSJ

Wall Street Journal reporters Rajesh Roy, Newly Purnell and Tripp Mickle note that Apple (NASDAQ: AAPL) has completed production of it's first iPhone in India, as the company looks to enter the fast-growing market.

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Apple (AAPL) PT Raised to $170 at BMO Capital; Sees Room for Continued Multiple Expansion

BMO Capital analyst Tim Long raised his price target on Apple (NASDAQ: AAPL) to $170.00 (from $160.00) while maintaining an Outperform rating.

Long said while the stock has closed the valuation gap with the market, they believe there is a historical precedent for... More

Apple (AAPL) said to plan laptop upgrades as Microsoft (MSFT) enters market - Bloomberg

Apple (NASDAQ: AAPL) said to plan laptop upgrades as Microsoft (NASDAQ: MSFT) enters market - Bloomberg

Apple (AAPL) PT Raised to $180 at Canaccord Genuity; 'Anticipate Strong 2018 iPhone Sales'

Canaccord Genuity raised its price target on Apple (NASDAQ: AAPL) to $180.00 (from $165.00) while maintaining a Buy rating, following a company update and outlook on September product launch.

Analyst T. Michael Walkley increases his price target and 2018 iPhone estimates, noting expectations for a strong... More

Elliott Management Enters Acadia (ACAD), C&J Energy (CJ), LogMeIn (LOGM)

Elliott Management released its 13F for the quarter ended March 31, 2017. Below is a summary:

New Stakes
Acadia Pharmaceuticals, Inc. (NASDAQ: ACAD) new 777,382 share position
Accenture plc (NYSE: ACN) (CALL) new 180,000 share position
The Advisory Board Co (NASDAQ: ABCO) new 2,030,927 share position
C&J Energy (NYSE: CJ) new 1,323,959 share position
ENCANA CORPORATION (NYSE: ECA) (CALL) new 4,500,000 share position
ENERGEN CORPORATION (NYSE: EGN) new 850,000 share position
ISHARES MSCI EMERGING MARKETS ETF (NYSE:... More

Glenview Capital's 13F Shows New Stakes in Hain Celestial (HAIN), Shire (SHPG), T-Mobile (TMUS) (More...)

Glenview Capital Management filed its 13F for the quarter ending March 31, 2017. Below is a summary.

New Stakes
Du Pont (E.I.) (NYSE: DD) new 206,709 share position
Hain Celestial Group, Inc. (NASDAQ: HAIN) new 2,749,075 share position
Intel (NASDAQ: INTC) new 4,931,557 share position
Mohawk Industries (NYSE: MHK) new 358,887 share position
Shire plc (Nasdaq: SHPG) new 1,015,477 share position
T-MOBILE US, Inc. (NASDAQ: TMUS) new 789,690 share position
Total System Services (NYSE: TSS) new 732,644 share... More

Buffett's Berkshire boosts American, Southwest airline bets; sheds Fox

By Jonathan Stempel

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Monday said it added to its sizable investments in American Airlines Group Inc (NASDAQ: AAL) and Southwest Airlines Co (NYSE: LUV), and shed its stake in Twenty-First Century Fox Inc (NASDAQ: FOXA).

In a regulatory filing, Berkshire said that in the first quarter its American stake grew 8 percent to 49.3 million shares worth $2.08 billion, while its Southwest stake grew 10 percent to 47.7 million shares worth $2.57 billion.

Berkshire also shed 8... More

Shock and shrug: U.S. stocks brush off latest round of global threats

By Lewis Krauskopf

NEW YORK (Reuters) - Another global shock. Another collective yawn by U.S. stock investors.

Equity investors appeared to largely brush off the latest apparent threat to the world's security: A global cyber attack, which began spreading on Friday that by Monday had infected computers in more than 100 countries. Adding to global jitters, North Korea said it had successfully conducted a mid- to-long-range missile test and would continue such launches "any time, any place."

Yet major U.S. stock indexes moved higher on Monday, with the benchmark S&P 500 touching a... More

Buffett's Berkshire Adds to American (AAL) and Southwest Airlines (LUV), Adds to Apple (AAPL), Confirms Lower IBM (IBM) Stake - 13F

Warren Buffett's Berkshire Hathaway released its 13F for the quarter ended March 31, 2017. Below is a Summary:

New Stakes

None

Raised Stakes
AMERICAN AIRLINES (NASDAQ: AAL) raised from 45,544,854 shares to 49,278,854 shares
Apple Inc. (NASDAQ: AAPL) raised from 57,359,652 shares to 129,357,106 shares
Bank of New York (NYSE: BK) raised from 21,671,969 shares to 33,012,059 shares
The Liberty SiriusXM Group (NASDAQ: LSXMA) raised from 10,058,800 shares to 22,307,109 shares
The Liberty SiriusXM Group (NASDAQ:... More

Einhorn's Greenlight Capital Confirms Perrigo (PRGO) Stake, Adds Varex Imaging (VREX), Back in Micron (MU)

David Einhorn's Greenlight Capital released its 13F for the quarter ended March 31, 2017. Below is a summary"

New Stakes
ALERE, Inc. (NYSE: ALR) new 1,046,697 share position
Clipper Realty Inc. (NYSE: CLPR) new 1,000,000 share position
Micron Technology (NASDAQ: MU) new 1,600,000 share position
Perrigo (NYSE: PRGO) new 1,700,000 share position (*** known via letter)
Varex Imaging Corporation (NASDAQ: VREX) new 665,000 share... More

Active options: AAPL NVDA MSFT AMD SNAP BAC TSLA FB BABA TWTR HD SIRI VRX AMZN JCP P CSCO T GE

Active options: AAPL NVDA MSFT AMD SNAP BAC TSLA FB BABA TWTR HD SIRI VRX AMZN JCP P CSCO T GE

Maverick's 13F Shows New Stakes in Envision (EVHC), Walgreens (WBA), Increase in Inbev (BUD), Tesoro (TSO) (More...)

Maverick filed its 13F for the quarter ending March 31, 2017. Below is a summary.

New Stakes
ALLISON TRANSMISSION HOLDINGS, Inc. (NYSE: ALSN) new 78,160 share position
AMERICAN AXLE & MANUFACTURING HOLDINGS, Inc. (NYSE: AXL) new 142,550 share position
Analog Devices, Inc. (NASDAQ: ADI) new 44,089 share position
ASSURED GUARANTY, LTD (NYSE: AGO) new 32,870 share position
Bank of the Ozarks, Inc. (NASDAQ: OZRK) new 51,280 share position
BHP Billiton plc (: BHPBF) new 41,590 share position
Centerstate Banks, Inc. (NASDAQ: CSFL) new 111,250 share... More

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Active options: AAPL TSLA NVDA BABA FB AMZN BAC MSFT SNAP

U.S. companies push hard for lower tax rate on offshore profits

By Ginger Gibson

WASHINGTON (Reuters) - Major U.S. multinationals are pushing the Trump administration to deepen the tax break it has already tentatively proposed on $2.6 trillion in corporate profits being held offshore, a key piece in Washington's intricate tax reform puzzle.

As President Donald Trump tries to deliver on his campaign promise to overhaul the tax code, lobbyists for technology, drug and other manufacturers are working with officials behind closed doors, six lobbyists working with various industries told Reuters.

In line with tax cuts already embraced by Republicans in the House of Representatives, the... More