Stocks to Watch: AAPL, VZ, T & More
Senior Producer, CNBC
Take a look at some of Friday’s morning movers:
Apple - Consumers are able to pre-order the newly announced iPhone 5 for the first time this morning, with early checks on the websites of Apple and Verizon Wireless indicating that so far, pre-orders are being processed smoothly. (Read More: Apple Could Sell a Lot More iPhones Than Expected.)
Verizon Communications , AT&T - Stifel Nicolaus is downgrading both stocks to "hold" from "buy" on a valuation basis, as well as lowering estimates related to benefits from the iPhone 5 launch.
United Healthcare - The health insurer's stock will replaceKraft Foods in the Dow Jones Industrial Average after the close of trading on Sept. 21. The move comes as Kraft prepares to split into two separate companies on Oct. 1.
Amazon.com - The online retailer will begin collecting sales taxes in California as of tomorrow, following a long battle over whether Internet retailers should have to charge those taxes, and a 2011 agreement that settled the matter in California.
Bank of America - Bank of America has settled a Justice Department probe which had accused it of discriminating against disabled borrowers. It will pay amounts up to $5,000 each to certain borrowers involved in the case, pending court approval.
Avon Products - The U.S. Securities and Exchange Commission has closed an investigation involving Avon without pursuing any action. The commission had been looking at whether former Vice Chairman Chuck Cramb shared material information regarding a separate bribery probe.
Western Digital - The company has announced a new $0.25 per share quarterly dividend and a $1.5 billion stock buyback program. At the same time, the hard disk drive maker has cut its fiscal first-quarter revenue forecast to $3.9 billion to $4 billion, compared to consensus estimates of $4.3 billion. Western Digital said it cut its forecast because of weaker demand for its drives.
Abercrombie & Fitch - CNBC’s Kayla Tausche reports that activist investor Relational Investors may seek a seat on the clothing retailer’s board. Tausche says Relational Investors hasn’t talked about taking Abercrombie private, but would be unlikely to oppose any takeover bid.
Staples - The office retailer's stock has been rising since Fortune Magazinereported Thursday that several private-equity firms may be interested in taking Staples private.
CME Group - JPMorgan Chase has downgraded the exchange operator's stock to "underweight" from "neutral."
Home Depot - The home improvement retailer is closing its remaining seven big box stores in China, resulting in a third-quarter charge against earnings of about $0.10 per share.
—By CNBC’s Peter Schacknow
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