Verizon (NYSE: VZ) will sell handsets powered by Google’s Android very soon — and that can’t be good for iPhone maker Apple (NASDAQ: AAPL). The wireless carrier and the search giant announced a tie-up on Tuesday that was short on details. My colleague Sam Gustin interpreted the deal as a frontal assault on Apple by Verizon. Google (NASDAQ: GOOG) appears set to ramp up its presence in smartphones with more than a dozen new Android-powered models slated to hit the market over the next 10 months. –AOL Daily Finance
Treasury prices rose for on Wednesday, nudging down yields for the first day in the five, ahead of the government’s auction of $20 billion in 10-year notes. While bond sales usually pressure prices down, analysts said investors may be concerned that the recent rally in riskier assets may mask lingering concerns about the ability of the U.S. economy to grow sustainably. "Folks are still questioning the viability of the recovery," said George Goncalves, chief fixed-income-rates strategist at Cantor Fitzgerald. "People are buying on dips in the Treasury market, which tells me there’s a lot of money on the sidelines that wants to get higher yields as they present themselves." –Marketwatch
Costco Wholesale Corp. (NASDAQ: COST) the largest U.S. warehouse club, reported fourth-quarter profit that fell less than analysts estimated, sending the shares up 3.3 percent in early U.S. trading. Net income in the quarter ended Aug. 30 dropped 6 percent to $374 million, or 85 cents a share, from $398 million, or 90 cents, a year earlier, the Issaquah, Washington-based company said today in a statement. Twenty-one analysts surveyed by Bloomberg estimated profit of 77 cents a share, on average. -Bloomberg
Share prices of real-estate investment trusts have climbed so far that according to some analysts, the sector is trading at a premium to the value of the underlying assets — for the first time since the heyday of the real-estate boom. To some stock-pickers, that is one of several signs that REITs are overvalued and a correction is around the corner. During the third quarter, REITs posted a 33% return, according to the Dow Jones Equity All REIT Index. That is the biggest gain since the index’s inception in 1989, beating out the previous record. –The Wall Street Journal
Leading chemicals and biotech seed developer Monsanto Co. (NYSE: MON) reported a higher fourth-quarter loss on Wednesday, though results slightly beat Wall Street estimates, as a downturn in its herbicide business ate into revenues. Monsanto reported a net loss of $233 million for the fourth quarter, compared with a loss of $172 million in the same period last year. The company reported a loss per share of 43 cents on an as-reported basis, compared to a loss of 31 cents a share a year ago. On an ongoing basis, the company reported earnings per share of 2 cents, compared to a loss of 3 cents a share a year earlier. -Reuters
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Posted By: Alfa Spartan
News Syndication by Ramberg Global Content News.
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