(Boursier.com) – Wall Street rose slightly on Tuesday, supported in particular by the great increase of eBay , which takes advantage of the announcement of its plans to split. Apple is facing the green at the moment, with the Chinese approval for marketing the iPhone 6, despite the attacks of the European Commission regarding its tax arrangements in Ireland … The DJIA is taking 0.19% to 17,104 points, while the Nasdaq gaining 0.16% to 4513 points. The S & amp; P500 wins 0.23% to 1,982 points
S & amp index;. P Case-Shiller American house prices for the month of July 2014 decreased by 0.5 % (index -City ’20 ‘) compared to the previous month and after seasonal adjustment, against a consensus of +0.1% and a 0.3% decline a month earlier. Excluding seasonal adjustments, the index -City ’20 ‘on 20 major metropolitan areas rose 0.6% from the previous month, against 1.3% consensus and 1% a month earlier. YoY and excluding adjustments, the index rose 6.7%, against 7.5% consensus.
The index of Consumer Confidence for the month of September 2014, as measured by The Conference Board, sank to 86 against 92.5 of consensus and the 92.4 the prior month.
The Chicago PMI manufacturing index stood at 60.5 for September , against 64.3 the previous month and a level of 62 expected by the consensus. The report of the day thus reflects a slowdown in manufacturing activity in the region.
The confidence of investors, “State Street Investor Confidence Index” increased by 3.8 points in September to 123, 9. The index was 120.1 (adjusted data) in August. Investors in North America and Asia showed lower risk appetite, the North American regional index falling by 5.1 points to 103.0 while the Asian regional index marks a decline of 4 5 points to 97.1. However, the improvement seen recently in Europe trust continues, with an increase of 12.6 points in the regional index, which stood at 140.0.
VALUES DAY
Apple (+ 1%). The obstacles have now been removed to the sale of its youngest, iPhone 6, China. Chinese telecom authorities have thus given night the green light to the sale of the iPhone 6 and iPhone 6 More on the Chinese market, now the second largest market for the firm at the apple after the United States.
The new phones have received their sesame as an ‘authorized access to telecom networks, “paving the way for their sale in China. The iPhone 6 was launched in September 19 in a dozen countries or regions (including Hong Kong, which enjoys a certain autonomy vis-à-vis Beijing). But the Cupertino company had not ventured to set a date for commercialization in China, as this crucial authorization “network access” had not been granted.
Apple suffers as planned today attacks the European Commission’s view that the fiscal arrangements of the Californian group with Ireland, which would have saved billions over several years, would be illegal and constitute unlawful aid state. Apple, meanwhile, told American media be proud of its history in Ireland and employed 4,000 people in Cork. Apple denies having received preferential treatment from the Irish authorities. The group also emphasizes the apple is subject to the same tax laws as countless other companies operating in Ireland.
The Commission believes that the rules enacted by the Irish authorities confer a benefit to Apple, advantage continues. At this point the preliminary opinion of the Commission is that the tax rules for 1991 and 2007 in favor of Apple constitute state aid. These charges stem from an OECD survey on Irish tax agreements in 1991 and 2007.
In addition, Ireland is now ordered to provide details on its fiscal arrangements with Apple and other companies, including Fiat and Starbucks . The OECD will also consider the case of Luxembourg and the Netherlands, as part of a wider investigation on the tax practices of countries vis-à-vis some large multinationals.
D According to an Apple spokesman, quoted by ‘Business Insider’, the group of Cupertino says that since the launch of the iPhone in 2007, Apple payments in Ireland and around the world have increased taxes ten! Tax agreements with Steve Jobs Ireland date from the 80s CNBC says that Apple would pay 2% tax in some years since these agreements. In addition, CNBC says the group would have relocated 102 billion dollars of cash offshore to shield the cash and cash equivalents to tax. The group would have saved up to $ 9 billion by these methods, yet says CNBC.
eBay (+ 7%) jumped on Wall Street. The giant online auction, which had previously rejected proposals to split the activist investor Carl Icahn, has finally opted for this solution “value creation.” Thus, the group announced today the planned separation of PayPal. Two independent entities will be listed, eBay and PayPal.
eBay has announced that its Board of Directors, following a “strategic review growth strategies and structure,” had approved a plan for separation of eBay and PayPal activities into two independent and publicly traded in 2015, subject to customary conditions companies. The creation of two independent entities best positioned eBay and PayPal to capitalize on their respective growth opportunities in a global trading environment and payments to rapidly changing. It would also best to create significant value for shareholders, the company said.
“For over a decade, eBay and PayPal have mutually benefited from being part of the same company, creating substantial value for shareholders. However, a thorough strategic review with our board showed that retain all eBay and PayPal beyond 2015 would clearly less favorable for both activities, strategically and a competitive point of view, “said John Donahoe, eBay CEO. Indeed, the officer found that the landscape of the industry is changing, and that both activities face different opportunities and challenges.
The company plans to complete the transaction in the form of a split tax-free in the second half 2015, subject to market conditions, regulatory agreements and certain other conditions.
John Donahoe, president and CEO of eBay, and CFO Bob Swan, will be responsible to carry out the separation of activities, under the supervision of the board. This will include determining appropriate management structures and capital for eBay and PayPal. Donahoe and Swan will have no role in executive management in the new entities, but each of the two sit, to ensure continuity, one or two boards.
Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay. In this position, so it will lead the eBay Marketplaces eBay and Enterprise business, which represents revenue growth of about 10% to $ 9.9 billion in the last 12 months (including 8.7 billion dollars for eBay Marketplaces.)
eBay also announced on the sidelines of the proposed demerger, effective immediately appointment of Dan Schulman as President of PayPal. It is the future CEO of the entity PayPal post-split. Schulman has just American Express , where he was president of the Enterprise Growth Group. PayPal posted on the 12 months to the end of August, revenues up 19% to 7.2 billion dollars approximately. Accounts grew 15% yoy in the last quarter. PayPal should be managed, in 2014, one billion mobile transactions
Ford Motor (-2%) secured 7.5% at the close on Wall Street last night on 15 $ consolidates and yet so far. The costs of vehicle recalls in North America and losses in Russia or in the area of South America have weighed on financial forecasts automaker Michigan. For example, Ford now expects for the year, profit before tax of approximately $ 6 billion, against a previous range of 7 to $ 8 billion. This was said yesterday leaders of the group to investors instead. For 2015, the group expects a profit before tax from 8.5 to 9.5 billion dollars, against $ 10.5 billion consensus.
General Motors (stable) . According to the comments of its leader Mary Barra to ‘Wall Street Journal’ General Motors will unveil tomorrow Wednesday its financial strategy in the medium term to strengthen its profits and launch vehicles leaders. Deadlines and targets are expected by investors. Barra took control of the group earlier this year.
Moody’s (stable) announced today its new 2014 annual financial guidance The 2014 annual non-GAAP earnings per action is now expected between 3.95 and $ 4.05, which excludes a gain of 36 cents per share resulting from the acquisition of a controlling stake in ICRA Ltd in the second quarter 2014 EPS guidance of the non-GAAP Moody’s includes costs related to acquisitions of WebEquity and a majority stake in ICRA. Total stock repurchases for the year 2014 are now expected to 1.25 billion USD, subject to available cash, market conditions and other decisions regarding the ongoing capital allocation.
Moody’s also announced it has agreed to acquire the remaining outstanding shares of Copal Amba. Moody’s is now a majority owner of Amba Copal, which was formed through the acquisition of Copal Partners in 2011 and Amba Investments Services in 2013 Copal Amba, a leader in outsourcing knowledge processes, provides offshore services research, analysis and business intelligence to the financial and corporate sectors. Its portfolio of clients ranging from global financial institutions and Fortune 100 companies to personalized investment banks and asset managers.
Walgreen (-1%), the American pharmacy chain, has unveiled quarterly results in line with analysts’ expectations. Over the three months ended in late August, the group suffered a net loss of $ 239 million or 25 cents per share, against $ 657 million or 69 cents per share a year earlier. Adjusted EPS totaled 74 cents against 73 cents in the same period last year. Revenues increased 6.2% to 19.1 billion dollars (+5.4% like for like.)
News Corp (-1%) will offer Move, an operator of real estate sites for about $ 950 million in cash. The giant Australian-American media will pay 21 dollars per share Move, embodying a premium of 37% over the closing price of the target of Monday night. REA Group, an Australian subsidiary of News Corp to the tune of 61.6% thereafter redeem 20% Move to its parent company for about $ 200 million. Move network sites attract about 35 million people per month, says the buyer. The transaction, unanimously approved by the board of directors of Move, expected to close by the end of the year.
DreamWorks Animation (-3 %) falls on Wall Street, having soared yesterday on rumors of interest from Japanese SoftBank. Citing sources close to the negotiations, the ‘Wall Street Journal’ understands that discussions between the two sides have stalled, although they could still restart. It is also possible that both groups consider something other than a merger, as a partnership in the content, says the WSJ.
– © 2014 Boursier.com
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