Morning Beat: Apple Inc. (AAPL), General Motors Company (GM), Allergan, Inc. (AGN)
Asia had mixed sessions today. At one point of time China’s Shanghai was down by 4%. However, it recovered from day’s lows to close down by 1.68%. India’s benchmark index closed down by 0.37% and Europe is currently trading up.
Reports from New York Post indicate that Apple Inc. (NASDAQ:AAPL) will team with BMW for making an electric car to take on Tesla Motors Inc (NASDAQ:TSLA). Apple Inc. (NASDAQ:AAPL) has been in discussion with BMW about its i3 electric car since the fall of 2014. When the rumors had started about Apple entering electric car space, Tesla Motors Inc (NASDAQ:TSLA)’s CEO Elon Musk had welcomed stating it is healthy for the industry.
General Motors Company (NYSE:GM) announced that it will invest $5 billion over the next few years in order to build a new family of Chevrolet vehicles for emerging markets. For this the company will partner with China’s SAIC. Earlier General Motors Company (NYSE:GM) had declined merger talks with Fiat Chrysler Automobiles NV (NYSE:FCAU).
Allergan, Inc. (NYSE:AGN) after realizing $41 billion through the sale of its generic units from Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) is looking for potential acquisitions in Biotech space or a traditional pharma company, According to an interview by Allergan, Inc. (NYSE:AGN) CEO Brent Saunders to Financial Times.
Pfizer Inc. (NYSE:PFE) announced its results for second quarter. The company reported revenue of $11.9 billion and diluted EPS of $0.42. Pfizer Inc. (NYSE:PFE)’s guidance was in line with what analysts on the street had expected.
Good news for Microsoft Corporation (NASDAQ:MSFT) Windows 10 lovers as they would be able to freely download the new version from day after tomorrow for free without any cost. This is the first time in the history of the company that a windows product will be available for free. Microsoft Corporation (NASDAQ:MSFT) looks to retain its existing users with this strategy. However, how well it works will only be known in few days.
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