- The U.S. government went into a full-throated propaganda offensive Tuesday in an effort to show that the highly controversial 2008 bailouts of American International Group, Inc. (NYSE: AIG) were profitable.
- U.K. defense contractor BAE Systems PLC (PINK: BAESY) said it's in talks with European Aeronautic, Defence & Space Co., the parent of Airbus SAS, about a possible merger that would create a European counterweight to U.S. companies including The Boeing Company (NYSE: BA).
- Apple (Nasdaq: AAPL), the world's most valuable technology company, introduced its iPhone 5, the successor to the best-selling iPhone 4S, on all three major U.S. carriers, AT&T Inc. (NYSE: T), the Verizon Wireless unit of Verizon Communications (NYSE: VZ) and Sprint-Nextel (NYSE: S).
- Merck & Co., Inc. (NYSE:MRK), the Whitehouse Station, N.J.-based pharmaceutical giant, is borrowing about $2.5 billion to service corporate and contribute to its pension fund.
- Shares of Apple (Nasdaq: AAPL), the world's most valuable technology company, rose $2.04 to $662.63, Wednesday in advance of the expected announcement of the iPhone 5 at a product introduction in San Francisco, which isn’t scheduled until late morning.
- Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, vaulted 6 percent in pre-market Wednesday trading following CEO Mark Zuckerberg’s acknowledgement of “disappointing” performance since the highly touted May 17 initial public offering.
- Crude oil output from the Organization of Petroleum Exporting Countries (OPEC) climbed by 90,000 barrels per day (b/d) in August to 31.54 million b/d as increases from Angola, Iraq, Nigeria and the United Arab Emirates (UAE) outstripped decreases from Algeria and Iran, a Platts survey of OPEC and oil industry officials and analysts showed Tuesday. This follows July production of 31.45 million b/d and leaves OPEC overproducing its 30 million b/d ceiling by 1.54 million b/d.
Top After-Market NYSE Movers (AU Optronics, Genco Shipping, Beazer Homes, Air Lease, Teekay Offshore, Vanguard, Pilgrim's, Swift Transport)The top after-market NYSE gainers Tuesday were AU Optronics, Genco Shipping & Trading, Beazer Homes USA, Air Lease Corp and EnergySolutions Inc. The top after-market NYSE losers were Teekay Offshore Partners, Vanguard Natural Resources, Pilgrim's Pride Corp, Swift Transportation and General Growth Properties.
- Damages in a lawsuit filed against American Airlines (PINK:AAMRQ), United Airlines (NYSE:UAL) and other companies in connection to the Sept. 11, 2001, terrorist attacks could total upward of $2.8 billion.
- Once indefensible, industry trades have seen their influence diminish in recent years. Trade magazines such as Variety, the Hollywood Reporter, Backstage and Advertising Age have all tried different ways to cope with a migration of readers from print to the Web.
- Eastman Kodak (Pink: EKDKQ) will win court approval to ax more people and sell units, a veteran bankruptcy lawyer said. But it won't get anything near full price for the units as well as for 1,100 patents that interest Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) because of the stain of bankruptcy.
Kindle Fire HD Will Offer Opt-Out For Ads: Is Amazon Moving Towards A Freemium Model For Its Hardware?Amazon.com Inc. is reversing its decision announced just last week with the unveiling of its new HD line of Kindle Fires to supplement the devices' low cost with ad-based support. In a statement emailed to the press, Amazon said that it will now give customers the option to opt out of advertisements for a premium price of $15. The decision reflects a growing need to slash hardware prices and monetize users in other, more creative ways in what is becoming a fiercely competitive tablet marketpl...
- A former high-level General Motors Company (NYSE: GM) executive -- widely considered to be the godfather of the company's foray into electric-vehicle production --struck back Tuesday at the assertion the carmaker might be losing nearly $50,000 on each one of the signature Volt plug-in vehicles the firm has sold so far.
- Royal Philips Electronics NV, the largest maker of lights, said Tuesday it plans to cut another 2,200 jobs by 2014 to save €300 million ($383 million) a year as economic conditions deteriorate.
Top After-Market NYSE Movers (Calix, Nam Tai, Freescale, Harbinger, Northern Tier, Palo Alto, El Paso Pipeline, Sun Communities, General Growth)The top after-market NYSE gainers Monday were Calix, Inc, Nam Tai Electronics, Freescale Semiconductor, Harbinger Group and Northern Tier Energy LP. The top after-market NYSE losers were Palo Alto Networks, El Paso Pipeline Partners LP, Sun Communities, EnergySolutions Inc and General Growth Properties, Inc.
- Following a slew of announcements about Valve Corporation expanding beyond game development and distribution into general software and hardware possibilities, Steam is officially releasing a beta version of its "Big Picture Mode" today. Showing a sleek and innovative approach to a television-based user interface, the new version of Steam raises questions about the future of PC game development.
- Volkswagen AG (PINK: VLKAY) cuts its internal European 2012 annual sales guidance by 150,000 vehicles, according to German news magazine Der Spiegel, Reuters reported.