According to a New Bloomberg Report, Apple's Rumored "iWatch" to be Debuted as
Early as This Year. Market Sets New Highs
NEW YORK, March 5, 2013
NEW YORK, March 5, 2013 /PRNewswire/ --
According to a new report, Apple Inc. is planning on releasing their rumored
and anticipated smart watch, the "iWatch" later this year. According to
Bloomberg, the device could create larger revenue opportunity than the HDTV
the Company has been working on for years. A Citigroup analyst quoted in the
article estimates that an Apple smart watch could generate twice as much
profit as an Apple television.
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Ferro Corp. (NYSE: FOE) - Ferro Corp. was one of the biggest gainers on the
NYSE on Monday. The stock hit a new 52-week high of $6.95 in intra-day
trading. The Company confirmed yesterday they had previously received and
rejected an unsolicited proposal from A. Schulman, Inc. to acquire all of the
outstanding shares of Ferro common stock for $6.50 per share in cash and
stock. The offer is 25 percent higher than Ferro's closing price on March 1.
This would have resulted in $563 million in cash and stock, in attempt for A.
Schulman to expand into chemicals used in electronics and coatings. Volume
traded on Monday at 14,483,636 shares was significantly above the stock's
average of 1,694,580 shares. Company V.P and CFO bought 65,000 shares on
DragonWave Inc. (Nasdaq: DRWI) - DRWI shares saw one of the biggest drops on
the Nasdaq composite yesterday. The stock dropped as low as $1.69 in intra-day
trading, forming a new 52-week low for the stock. The drop came after the
Company said that for the fourth quarter, it would miss its forecast. A result
of lower sales in the microwave technology business it bought from Nokia
Siemens Networks in 2012. Shares slid 25 percent to a three-month low of
C$1.81 on the Toronto Stock Exchange on Monday. DragonWave estimated revenue
of $30 million for the quarter ended February 28. It had forecast $40 million
to $45 million. Analysts on average were expecting $41.8 million, according to
Thomson Reuters I/B/E/S.
Atlantic Power Corporation (NYSE: AT) - Shares of AT hit a new 52-week low of
$5.80 on Monday in intra-day trading after the Company reported a dividend cut
and that their net loss deepened in Q4. The stock closed down almost 17% on
volume significantly above average with 8,681,342 shares traded. The Company
reported its Q4 and 2012 results last Friday. For the quarter, revenue was
nearly $114 million, up from the $79 billion in the same period the previous
year. Attributable net loss fell considerably to almost $58 million ($0.50 per
diluted share) from Q4 2011's red figure of just under $30 million ($0.27).
For the full year, top line was $440 million, or more than four times the 2011
figure of $94 million. But net loss was also much greater, landing at $113
million ($0.97 per diluted share) for the year against 2011's $38 million
($0.50). On February 28^th, two directors in the Company bought a combined 709
Select Comfort Corporation (Nasdaq: SCSS) - SCSS was among several stocks to
hit a new 52-week low in the market on Monday. The stock hit a low of $16.62
in intra-day trading and posted one of the largest percentage decreases on the
Nasdaq composite. The Company reported yesterday that it has experienced
below-plan sales since Feb. 1, 2013 and will likely miss its internal goals
for the first quarter. The company plans to discuss its outlook for the
balance of the year following the release of first-quarter financial results
scheduled for April 17, 2013. Volume traded yesterday at 8,245,827 shares was
roughly seven times higher than average.
GMX Resources Inc. (NYSE: GMXR) - GMXR shares saw a huge drop on Monday
dropping more than 24% to close at $2.33. The Company announced yesterday that
it has been notified by the New York Stock Exchange that it is not in
compliance with one of the continued listing standards of the NYSE. In
accordance with NYSE procedures, GMX Resources has 45 days from receipt of the
notice to submit a plan to the NYSE demonstrating how it intends to comply
with the NYSE's continued listing standards within 18 months (the "plan
period"). The stock has a 52-week trading range of 1.80 - 23.92.
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