Ideological companies are not the way to go March 20, 2012 APPLE has accumulated a “cash pile” of about $100bn. Until yesterday, when its chief executive, Tim Cook, announced a plan to pay out $45 billion in dividends, there was speculation about how the money might be spent. Some suggested philanthropy. Cook should be proud of resisting the temptation. “Corporate philanthropy” is one of those expressions [...]
Apple bites the bullet on divi payouts March 19, 2012 APPLE announced yesterday it will pay investors a quarterly dividend of $2.65 per share from July, ending a dry spell for shareholders that has lasted more than 16 years. Turning his back on Steve Jobs’ firm policy of not paying dividends, Apple boss Tim Cook re-introduced the payout – which will cost $9.88bn a year [...]
Sprint slumps as analyst cites bankruptcy risk March 19, 2012 SHARES in Sprint Nextel fell 4.5 per cent yesterday after an analyst report said there is an increasing risk that the US mobile provider could end up filing for bankruptcy in the next five years. Bernstein analyst Craig Moffett downgraded Sprint shares to “underperform” from “market-perform” saying that the company will face “new and larger [...]
Wall St buoyed by Apple divi scheme March 19, 2012 THE S&P 500 extended its rally yesterday to climb within 10 per cent of its historic closing high, after Apple said it would pay a $10bn annual dividend and buy back stock. The benchmark index is now at its highest level since May 2008 and 10 per cent below the record close of 1,565.15 set [...]
Apple to pay dividend from $98bn cash pile March 19, 2012 Apple chief executive Tim Cook has fulfilled a longstanding desire of investors by initiating a quarterly dividend and share buyback that will pay out $45bn (£28bn) over three years. The world’s most valuable technology company will start paying its first dividends since 1995 – a regular quarterly payout of $2.65 a share – in July, [...]
Apple set to divulge how it will bite into huge cash pile March 18, 2012 APPLE will today finally reveal what it plans to do with its enormous cash stockpile. The consumer favourite, which had $97.6bn (£61.6bn) in cash and securities as of the end of last year, is likely to offer a dividend to shareholders. Apple chief executive Tim Cook and chief financial officer Peter Oppenheimer will announce the [...]
New iPad not compatible with UK 4G March 16, 2012 Apple’s new iPad launched worldwide this morning, but despite being advertised as compatible with the faster 4G networks, the tablet’s new technology will only work in North America. Even though 4G networks are due to launch in the UK in late 2012, it will not be compatible with the latest iPad due to a difference [...]
New iPad launches in UK as Apple stock hits $600 March 15, 2012 APPLE shares touched $600 for the first time yesterday – just one month after reaching the $500 mark – as the feverishly-awaited new iPad today hits the shelves. But only those willing to stand in the notoriously long queues at Apple stores will be able to lay their hands on the latest tablet device, as [...]
S&P hits highest point since 2008 March 15, 2012 The S&P 500 closed above 1,400 for the first time since the 2008 financial crisis yesterday as stocks resumed the upward climb that has produced a steady stream of gains this year. The benchmark index is up for six of the past seven sessions and is on target for its best week since early February. [...]
Wall St sees end of 5-day winning run March 14, 2012 THE S&P 500 broke a five-day streak of gains yesterday as investors found little reason to extend a rally that took the benchmark index to four-year highs. Momentum continued in Apple, as its shares climbed 3.8 per cent to $589.58 following positive analyst comment. Morgan Stanley and Canaccord Genuity both lifted their price targets to [...]