Apple Inc (NASDAQ:AAPL)
Shares of Apple Inc (NASDAQ:AAPL) added 1.80% and closed at $108.74 in the last trading session. The last trading range of the stock ranges between $106.88 and $109.43.
U.S. tech giant Apple will pay Italys tax office 318 million euros ($348 million) to settle a dispute and sign an accord next year on how to manage its tax liabilities from 2015, a source with direct knowledge of the matter said on Wednesday, according to Reuters
Italian prosecutors have been investigating allegations that Apple failed to pay corporate taxes to the tune of 879 million euros, sources told Reuters earlier this year.
Apple will pay the tax agency 318 million euros and will sign an accord for fiscal years 2015 onwards early next year, the source said.
The tax office earlier confirmed a report in La Repubblica that it had reached a deal with the iPhone maker but declined to say how much the U.S. company had agreed to pay.
The source said that while the judicial probe, which also regards three Apple managers, remained open for now, the settlement with the tax agency would likely have a positive impact on the investigation.
Apple is one of several companies, counting Google and Amazon, to become the target of tax inquiries in Europe.
On the other latest news report, MacRumors reports that Apple Inc. (NASDAQ:AAPL) is opting to increase the battery on the iPhone 6c. The 4-inch iPhone 6c, an upgrade of the 5s will be an ode to users who still prefer small screen smartphones. Chinese website MyDrivers states that the new phone will have a 1,642mAh battery; the 5s on the other hand has a 1.570mAh battery capacity, according to Bidnessetc
Subsequently, the report referred to sources inside of Foxconn who also confirmed previous rumors about the phone’s internals. The 4-inch iPhone will reportedly feature an A9 processor, have 2GB of RAM and 16GB of base storage. More so, TouchID and Apple Pay will be the value-added features with the phone. The smartphone is also expected to have 2.5d curved glass, similar to the one used on the iPhone 6 and later.
It is rumored that production is set to begin in January with a March unveiling and availability in April. As per MacRumors, 6 sources have stated that the phone will be set to release early 2016. Reliable blogger, Mac Otakara, also stated that the new phone may release in three different colors and without 3D Touch. Bidnessetc Report
Facebook Inc (NASDAQ:FB)
Facebook Inc (NASDAQ:FB) jumped 1.26% and closed at $107.26 in the last trading session. The last trading range of the stock ranges between $106.25 and $107.74. The company’s Market capitalization is $303.33B with the total Outstanding Shares of 2.27B.
When Facebook Inc.’s co-founder projected bringing free Web services to India, his stated aim was to assist connect millions of impoverished people to unlimited opportunity. Instead, critics have accused him of making a poorly disguised land grab in India’s burgeoning Internet sector. The growing backlash could threaten the very premise of Internet.org, his ambitious, two-year-old effort to connect the planet, according to Bloomberg
Indian authorities are circumspect because the Facebook initiative provides access to only a limited set of websites undermining the equal-access precepts of net neutrality. The telecommunications regulator is calling for initial comments by Jan 7, extending the deadline from recently, on whether wireless carriers can charge differently for data usage across websites, applications and platforms. Losing this fight could imperil Facebook’s Free Basics, which allows customers to access the social network and select services such as Messenger and Microsoft’s Bing without a data plan.
“The India fight is assisting shape debates elsewhere,” said Pranesh Prakash, policy director at the Centre for Internet and Society, a Bangalore-based non-profit advocacy group. “Activists in other countries such as Brazil, Venezuela and Colombia are watching this debate and will seize the momentum created in India.”
Zuckerberg’s argument for free Web access is based in part on Deloitte research showing that for every 10 people who are connected to the Web, one is lifted out of poverty and one job is created. Bloomberg Report
On the other latest news report, A federal judge has certified two shareholder class action lawsuits accusing Facebook Inc of hiding concerns about its growth forecasts before the social media companys initial public offering in May 2012, according to Reuters
U.S. District Judge Robert Sweet in Manhattan said retail and institutional investors who claimed they lost money by purchasing Facebook shares at inflated prices may pursue their respective claims as groups.
Amazon.com, Inc (NASDAQ:AMZN)
Shares of Amazon.com, Inc (NASDAQ:AMZN), ended its last trade with 2.78% gain, and closed at $693.97. The Average Volume of the company is at 4.24M with the Outstanding Shares of 468.76M. The Earnings per Share of the company stands at $0.69.
U.S. stock futures on Wednesday signaled a lower open, as sentiment was hit by a drop in oil prices.
S&P 500 futures dropped 2.55 points, or 0.1%, to 2,070.25, while those for the Dow Jones Industrial Average declined by 26 points, or 0.2%, to 17,612. Nasdaq 100 futures pulled back by 4.25 points, or 0.1%, to 4,686.25.
Shares of popular tech companies Netflix, Amazon and Microsoft all rose more than 1 percent on the day. That brought their gains for the year to about 144, 123 and 21 percent, respectively, according to CNBC
Some of these name have plenty more upside, said Pete Najarian. He pointed specifically to Microsoft, which he felt has a safer valuation than many technology stocks.
Trader Guy Adami, though, still believes Amazon and Netflix will rise higher before their next quarterly earnings reports. He contended that Amazon could rise to $725 or more per share, up from a close near $693 per share Tuesday.
While some investors have looked to growing tech names this year, others saw promise in General Electric amid a downsizing effort. The stock has climbed nearly 24 percent in 2015. CNBC Report
On the other news report, According to CNBC, The Amazon CEO, whose firm picked up two Golden Globes and two Emmy Awards in 2015, seeks to earn an Academy Award in 2016.
“We want to win an Oscar,” he recently told German newspaper Die Welt, explaining that Amazon hopes to produce 16 movies per year.
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