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| Analysis: Apple, Facebook options reflect hopes for stock gains Friday, Oct 25, 2013 03:11 PM PDT  By Doris Frankel (Reuters) - The options market is reflecting a higher probability of large upside moves in Apple Inc and Facebook Inc stock when both companies report quarterly earnings next week. Stock of Apple - the largest U.S. company by market value - is down 1 percent since January 1 while Facebook shares are up 95 percent. Many investors appear to be speculating on a rally rather than a sell-off in both stocks and are turning to the options market, buying calls at strike prices that are far above the current share price - also known as "out-of-the-money. ... Full Story | Top |
| Wealth managers say they hear 'nary a tweet' for Twitter's IPO Friday, Oct 25, 2013 12:58 PM PDT  By Lauren Young NEW YORK (Reuters) - Twitter Inc has set a relatively modest price range for its closely watched initial public offering, but some financial advisers say their clients are not clamoring to invest in the social media phenomenon. "Nary a tweet," says William Baldwin, president of Pillar Financial Advisors in Waltham, Massachusetts, when asked about client interest in the deal. Out of 29 broker-dealers and independent advisers contacted by Reuters, 23 said they are not recommending Twitter shares. Only one said he would recommend it - and only to certain clients. ... Full Story | Top |
| NQ Mobile hits back at Muddy Waters, releases account details Friday, Oct 25, 2013 12:46 PM PDT By Paul Carsten and Soham Chatterjee (Reuters) - NQ Mobile Inc, the Chinese mobile security software company labelled a "massive fraud" by Muddy Waters Research Group, hit back on Friday by releasing details of its bank accounts and threatening legal action. NQ described as "false and inaccurate" the allegations by Muddy Waters, owned by short-seller Carson Block, but said a special committee of independent directors would investigate. Shares of NQ continued their slide on Friday, falling as much as 20 percent. ... Full Story | Top |
| Nasdaq says FINRA caps Facebook IPO claims at $41.6 million Friday, Oct 25, 2013 12:23 PM PDT  By Sarah N. Lynch WASHINGTON (Reuters) - The total value of the claims that market makers can recover after suffering losses due to Nasdaq OMX Group Inc's botched handling of Facebook Inc's initial public offering is $41.6 million, the exchange operator said Friday. The claims figure, which was calculated by Wall Street's industry-funded watchdog the Financial Industry Regulatory Authority, falls short of the $62 million that Nasdaq had initially set aside to repay brokerages that lost money. ... Full Story | Top |
| Factbox: Who will get rich from Twitter's IPO? Friday, Oct 25, 2013 11:18 AM PDT SAN FRANCISCO (Reuters) - Twitter is preparing to sell 70 million shares to the public in an IPO that will value the company at about $11 billion. Below is a list of the number of shares owned by some of the people and investment firms that will benefit most from the offering: Executive officers and directors: Evan Williams, 56,909,847 shares, or 12 percent. Williams was Twitter's chief executive until 2010, when current CEO Dick Costolo took the helm. He is now working on a publishing platform, Medium, dedicated to long-form content. Williams will have a 10. ... Full Story | Top |
| Telecom Italia considering share issue and no dividend: sources Friday, Oct 25, 2013 10:16 AM PDT By Stefano Rebaudo MILAN (Reuters) - Telecom Italia is considering a capital increase and the scrapping of its dividend amongst the options for overhauling its heavily indebted balance sheet, two sources close to the matter said on Friday. The group is battling to cut almost 29 billion euros ($40 billion) of net debt as its business feels the pinch of Italy's deep recession, harsh competition and slowing growth in Brazil, its second-largest market. ... Full Story | Top |
| Facebook executives coach Brazil politicians before Internet vote Friday, Oct 25, 2013 09:43 AM PDT  By Anthony Boadle BRASILIA (Reuters) - As Brazil threatens to impose strict new regulations on American Internet companies, Facebook offered some of its top politicians free advice this week on how to win "friends" and maximize "likes" on their webpages. Facebook's tips on using social media came as politicians geared up for a 2014 general election and as Congress prepared to vote on legislation that could severely restrict the way companies like Facebook, Twitter and Google operate in Brazil. After revelations of U.S. ... Full Story | Top |
| America Movil shares sink, European strategy up in air Friday, Oct 25, 2013 09:10 AM PDT  By Elinor Comlay MEXICO CITY (Reuters) - Shares in America Movil fell nearly 3 percent on Friday after Latin America's biggest phone company reported a sharply lower profit and on concerns over the investment strategy of billionaire Carlos Slim's flagship company. On a conference call on Friday, a day after the company released quarterly earnings, analysts repeatedly asked questions about America Movil's plans in Europe. The company announced last week it would not proceed with a planned offer for Dutch phone company KPN. "We don't have to take any decision on that and ... ... Full Story | Top |
| Germany to send spymasters to U.S. over Merkel allegations Friday, Oct 25, 2013 08:36 AM PDT By Alexandra Hudson BERLIN (Reuters) - Germany will send its top intelligence chiefs to Washington next week to seek answers from the White House on allegations that U.S. security officials tapped the mobile phone of Chancellor Angela Merkel. Merkel has demanded action from President Barack Obama, not just apologetic words, following the accusations that the U.S. National Security Agency (NSA) accessed tens of thousands of French phone records as well as monitoring her own private phone. ... Full Story | Top |
| Austrian telecoms watchdog to hear 4G auction gripes Friday, Oct 25, 2013 08:12 AM PDT  VIENNA (Reuters) - Austria's telecoms watchdog will hold a hearing of complaints by operators about the 2 billion euro ($2.8 billion) auction for fourth-generation frequencies, which was criticized for being too expensive. The 4G auction in Europe's most price-competitive telecoms market raised four times the minimum set by the regulator and was the most expensive in Europe per head of population. ... Full Story | Top |
| Telecom Italia mulls scrapping 2013 dividend, Italy operations rejig: sources Friday, Oct 25, 2013 08:02 AM PDT MILAN (Reuters) - Telecom Italia is considering scrapping its 2013 dividend and starting a reorganization of its Italian activities, two sources close to the matter said on Friday, ahead of a board meeting next month to approve a new business plan. The sources said the heavily indebted telecoms group is also considering a rights issue and the sale of its Brazilian unit TIM Participacoes but its board is expected to take time to decide on both options. "They need (savings for) one billion euros. ... Full Story | Top |
| Twitter IPO pegs valuation at modest $11 billion Friday, Oct 25, 2013 07:44 AM PDT  By Alexei Oreskovic and Gerry Shih SAN FRANCISCO (Reuters) - Seeking to avoid a repeat of Facebook Inc's much-maligned public debut, Twitter Inc revealed more modest ambitions, saying its initial offering would raise up to $1.6 billion and value the company at up to about $11 billion. The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise. ... Full Story | Top |
| Amazon sales show momentum, analysts boost price targets Friday, Oct 25, 2013 07:24 AM PDT  (Reuters) - Shares of Amazon.com Inc jumped 10 percent at the opening on Friday after the company reported better-than-expected sales growth in North America and indicated strong momentum going into the U.S. holiday season. At least 15 brokerages raised price targets on Amazon shares, to as much as $430, after the world's biggest online retailer company reported strong results for the third quarter. The stock, which has already risen 32 percent this year, was trading at $364.40, up from its closing of $332.21 on the Nasdaq on Thursday before the results were announced. ... Full Story | Top |
| Germany wants a German Internet as spying scandal rankles Friday, Oct 25, 2013 07:15 AM PDT  By Leila Abboud and Peter Maushagen PARIS/FRANKFURT (Reuters) - As a diplomatic row rages between the United States and Europe over spying accusations, state-backed Deutsche Telekom wants German communications companies to cooperate to shield local internet traffic from foreign intelligence services. Yet the nascent effort, which took on new urgency after Germany said on Wednesday that it had evidence that Chancellor Angela Merkel's mobile phone had been monitored, faces an uphill battle if it is to be more than a marketing gimmick. ... Full Story | Top |
| Nigeria says kills 74 Islamists in ground, air assault Friday, Oct 25, 2013 07:12 AM PDT MAIDUGURI, Nigeria (Reuters) - Nigerian troops killed 74 members of Boko Haram in an air and ground assault, the military said on Friday, a further sign of stepped up operations against the Islamist sect. The offensive on Thursday targeted Boko Haram camps in the remote villages of Galangi and Lawanti in northeast Borno state where the militants have their strongest presence. ... Full Story | Top |
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