Rumors

Best Buy Celebrates Holiday Weekend With Mobile Savings

Garet Zatz — Sat, 25 May 2013 13:38:01 +0000

According to AllThingsD, Best Buy (NYSE: BBY) will help kick off the holiday weekend for all prospective iPhone users by cutting prices by $50 for the iPhone 4, iPhone 4S and iPhone 5 (in conjunction with a two-year contract with Verizon, AT&T or Sprint) starting Sunday, May 26.

The price-cuts for Apple's (NASDAQ: AAPL) mobile phones will be a four-week promotion. The promotion's start coincides with Samsung's new Galaxy S4, a direct competitor in the mobile phone ...

Implications of SAP and Jive Ending Acquisition Talks

Luke Jacobi — Fri, 24 May 2013 18:58:46 +0000

As stated by Bloomberg, SAP (NYSE: SAP) has been in acquisition talks with Jive Software (NASDAQ: JIVE) recently. Bloomberg’s sources stated an acquisition will not go through because Jive’s products are too similar to those of SAP.

While none of these rumors have been confirmed and spokespersons have specifically refused to comment, shares of Jive surged on this news and are maintaining an elevated level with average volume.

This suggests that Jive’s software has the potential to seriously compete with SAP for ...

This AT&T Announcement Should Attract iPhone Prepaid Customers in Droves

Tim Parker — Fri, 24 May 2013 12:49:23 +0000

Must be nice having people fight over you. Apple (NASDAQ: AAPL) is used to that, though, but another battle is about to get underway and this time it’s in the prepaid phone market.

With the price of contract plans feeling a lot like the typical cable bill, consumers continue to look for options that are cheaper, a la carte, and don’t lock them into a contract. (You know, the same thing consumers demand from their cable provider but don't get.)

Prepaid phones are the carriers’ answer to that demand but up until recently, they’ve been a little archaic. 10 cents for each text message?

On Thursday, MacRumors reported that AT&T’s (NYSE: T) GoPhone prepaid wireless plan will expand. First, it will include support for AT&T’s LTE and HSPA+ networks. This upgrade allows for the second big piece of news: full support for the ...

Google and Facebook Going to War Over Mapping App

Jim Probasco — Fri, 24 May 2013 12:43:18 +0000

A bidding war between Google (NASDAQ: GOOG) and Facebook (NASDAQ: FB) may be about to erupt, according to Bloomberg. The object of the conflict is Waze, a smartphone-mapping app with unique social features.

Waze provides driving directions with a twist. Users submit information about traffic tie-ups, speed traps, and road closings. Waze alerts and even reroutes users around problem areas.

Waze is a free service and generates revenue via location-based advertising. That capability, plus more than 40 million users (and growing) makes the product attractive. Whether Waze is as attractive as it thinks it is remains to be seen.

One Bloomberg source said Waze is open to acquisition discussions, if the price is right. The price? $1 billion or more. The company is also reportedly considering remaining independent and raising venture capital if a suitable deal can’t be reached.

Mapping capability on smartphones and other devices is increasingly important. Mapping with cool features is a ...

Benzinga's M&A Chatter for Thursday May 23, 2013

Charles Gross — Thu, 23 May 2013 21:50:57 +0000

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday May 23, 2013:

rue21 to be Acquired by Apax Partners for $42.00/Share in Cash

The Deal:
rue21 (NASDAQ: RUE) and Apax Partners, announced Thursday, a definitive agreement under which funds advised by Apax Partners will acquire rue21 for $42.00 per share in cash. That will value the transaction at approximately $1.1 billion. As part of the agreement, a Special Committee will conduct an initial 40-day "go-shop" process during which it will actively solicit, evaluate and potentially enter into negotiations with any parties willing to offer a superior acquisition proposal. ...

MacBook Air Sellout Hints at Imminent Refresh

Louis Bedigian — Thu, 23 May 2013 17:14:00 +0000

Apple (NASDAQ: AAPL) is rumored to announce the next MacBook Air refresh -- and possibly the next MacBook Pro refresh -- next month during the World Wide Developers Conference.

Scheduled to take place from June 10 through June 14 in San Francisco, the World Wide Developers Conference is Apple's annual event that promises to deliver an "in-depth look at the latest in iOS and OS X." Apple's unconfirmed streaming music service, known to many as iRadio, could make an appearance and steal the show. But Apple may still take the opportunity to introduce an updated MacBook.

According to AppleInsider, MacBook Airs are out of stock at a number of retailers -- including Amazon (NASDAQ: AMZN) and Best Buy (NYSE: BBY) -- a clear sign that the company will refresh the Air very soon.

Historically, Apple replenishes sold-out items with additional shipments as soon as possible. However, Amazon does not appear to have ordered more of the 11.6-inch, 64GB model, which is currently ...

Sony Could Delay Apple's iRadio Launch

Louis Bedigian — Thu, 23 May 2013 13:56:06 +0000

Next month, thousands of tech industry professionals will head to California for two conferences: the Electronic Entertainment Expo in Los Angeles and the World Wide Developers Conference in San Francisco.

The latter is Apple's (NASDAQ: AAPL) annual event where the Mac maker introduces new software and other enticing tidbits as app developers listen intently. This year Apple hopes to make at least one major announcement, but it seems that a potential partner could hold things up.

According to the New York Post, Apple has been planning to build a new music streaming service for quite some time. Now that the company has reportedly convinced Universal Music and Warner Music Group to come board, Apple is finally ready to launch. There is just one problem: Sony (NYSE: SNE) is not yet sold on the deal.

This has frustrated Warner and Universal, who are said to be very eager to start profiting from Apple's new service.

"There's a frustration," one unnamed senior ...

Saks and Neiman Marcus Merger at the Rumor Stage

Jim Probasco — Thu, 23 May 2013 12:50:50 +0000

According to The Wall Street Journal, high-end department store, Saks Inc. (NYSE: SKS) has hired Goldman Sachs Group Inc. (NYSE: GS) to look into a possible sale. Neiman Marcus Group Inc., owned by Private-equity firms TPG and Warburg Pincus LLC, is also exploring its options. With two upscale retailers on the prowl, merger rumors are never far behind.

At this stage, a merger between the two titans of luxury merchandising is only speculation. There has been no formal announcement of an “engagement,” much less a “marriage.” However, according to someone familiar with the matter who spoke with The Wall Street Journal, private-equity firm Kohlberg Kravis Roberts & Co. (NYSE: KKR) is considering investing in Saks, possibly with an aim toward acting as matchmaker to merge the rival companies.

In the eyes of Neiman Marcus, Saks has always been a lesser competitor. Saks has sales on a much more frequent basis than Neiman, a sure sign of lower status, according to Neiman Marcus. Neiman, of course, has that Christmas catalog with $1 million ...

20 Million Windows 8 Tablets May be Produced in 2013

Louis Bedigian — Thu, 23 May 2013 12:26:38 +0000

Microsoft's (NASDAQ: MSFT) latest operating system is expected to pop up in five to eight percent of all tablets produced this year, providing Windows 8 with another notable boost.

According to DigiTimes, roughly 10 million to 20 million new tablets are likely to use Windows 8 in 2013.

Many investors will point out that 20 million units would be far less than the number of iOS tablets that Apple (NASDAQ: AAPL) is expected to produce and sell this year.

While iOS has had several years to build its customer base, Windows 8 is still relatively new. Microsoft may have sold 100 million licenses, but most of them are for laptops and desktop PCs -- not tablets.

Believe it or not, it actually took Apple 28 days to sell the first million iPads. Nearly 60 days passed before two ...

Analyst: No iWatch until 2014

Tim Parker — Thu, 23 May 2013 12:07:26 +0000

If you were hoping to see the often reported, heavily rumored, and overhyped Apple (NASDAQ: AAPL) iWatch this year, the chances of you getting your wish don’t look good. KGI Securities analyst Ming-Chi Kuo believes that the device won’t arrive until late 2014. This is particularly notable because numerous, otherwise reputable sources, like Bloomberg, have reported that the device will hit the street at the end of 2013.

It’s true that this is one more analyst adding to the glut of rumors already published he has a stronger track record than most.

He points out that because iOS will require a series of large changes in order to accommodate the device, those changes will take time to implement. With Apple firmly focused on iOS7, it may have worked these changes into the upcoming update but Kuo doesn’t see that as likely.

In addition, Kuo ...

Benzinga's M&A Chatter for Wednesday May 22, 2013

Charles Gross — Wed, 22 May 2013 21:56:12 +0000

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 22, 2013:

Clearwire Board Recommends Shareholders Approve $3.40/Share Offer from Sprint

The Recommendation:
Clearwire Corporation (NASDAQ: CLWR) announced Wednesday that its Special Committee of the Board of Directors and its Board of Directors have approved the revised offer from Sprint (NYSE: S) to acquire the approximately 50 percent stake in Clearwire it does not already own, for $3.40 per share.

The Special Meeting of Stockholders will take place on Friday, May 31, 2013 at 1:30 PM ET.

Clearwire closed at $3.38 Wednesday, a loss of $0.02 on 6 times average volume.

Le Gaga Receives 'Going Private' Proposal of $4.01/ADS

The Offer:
Le Gaga Holdings (NASDAQ: GAGA) announced Wednesday that it has received a ...

Worldwide LED Tube Light Shipments to Reach 220 Million in 2013

Jim Probasco — Wed, 22 May 2013 20:16:09 +0000

DigiTimes Research said Wednesday that LED tube lighting shipments in 2013 would account for 5.5 percent of the entire lighting market globally.

With efficiency reaching 110lm/W, comparable to that of fluorescent bulbs – and with prices coming down – these ultra high efficiency replacements for fluorescent bulbs are becoming more popular.

The biggest drawback has been the difference in price between LED bulbs and CFLs or incandescent lighting. With increased efficiency and production, however, prices are coming down. DigiTimes said retail prices for 4-foot T8 LED tubes would drop by 25.7 percent in 2013 to an average selling price of $48.30.

The DigiTimes forecast was bolstered by PR Newswire, Wednesday, quoting a GiiResearch.com ElectroniCast report that said global consumption of LED linear tube lamps rose to $194 million in 2012.

Last week ElectroniCast forecast that consumption would grow at an average annual rate of 23 percent between 2012 and ...

Citi Analyst Says Saks Could Be Worth $19/Share in Takeover

Paul Quintaro — Wed, 22 May 2013 17:39:21 +0000

Citi's Deborah Weinswig boosted her price target on Saks (NYSE: SKS) Wednesday morning as investors and traders are responding to a number of rumors.

Shares of Saks were up around 14 percent throughout most of Wednesday's morning session; the stock spiked even higher just ...

These Ridiculous Facts About the Coffee Industry Will Blow Your Mind

Alex Biles — Wed, 22 May 2013 16:45:30 +0000

Courtesy of data from the International Coffee Organization, the folks over at FinancesOnline.com have put up a slick infographic with a bounty of interesting facts and figures about the coffee industry.

The infographic details everything from the role of "coffee coyotes" -- middlemen who force farmers to sell coffee at a loss, then sell the product to millers for a high profit -- to the roles that giants like Dunkin Donuts (NASDAQ: DNKN) and ...

Here Are 14 Yearbook Photos of Business Big Shots

Alex Biles — Wed, 22 May 2013 16:19:13 +0000

When we think of the business titans of our age, we often associate their likeness with private jets, cash flows in the millions, intense board room meetings and bold leadership.

Yet, the humble beginnings of the CEOs, co-founders and chairmen of some of America's top companies are often overlooked.

Benzinga compiled a collection of high school yearbook photos from some of the biggest names in the business and finance sectors today.

Which high school version of a current business big shot would you hang out with if you could? Let us know in the comments.

Brian Moynihan is the CEO of Bank of America.

Moynihan was the youngest boy in a family of nine, and would wear his older siblings' hand-me-downs. "I had the smallest [sweater] and then I grew into the next and the next and the next. I had to wear them all," Moynihan told Brown Alumni Magazine. (Photo: Brown Daily Herald).

David Tepper is the head of Appaloosa Management, a hedge fund that grossed $2.2 billion last year -- the most of anyone in 2012.

When Tepper was 4 or 5 years old, his older sister brought him to school as the topic of her show-and-tell project. David showed up off his advanced multiplication and addition skills to the class. (Photo: Bloomberg TV).

Donald Trump is the Chairman and President of the Trump Organization

Born in Queens, Trump was sent to the New York Military Academy by his parents, beginning at age thirteen. (Photo: Yearbook Library).

Rex Tillerson is the Chairman and CEO of Exxon Mobil. ...