News About Banking Industry

A good time this holiday for Apple Watch

Apple. IBM’s Watson has won at Jeopardy and is making a move into fantasy football. Why not shopping prognostication? If Watson is correct, the top holiday gift this season could be the Apple Watch, according to Yahoo Finance. That’s what Watson found after sorting through shopping-related traffic on social networks, blogs and web sites. Apple shares rose about 1% Tuesday closing at $118.88. Other Watson trending gifts: TVs from Samsung, Sony and LG.apple3-9-1331322264

Analog Devices. Speaking of portable devices, this key supplier of chips to Apple saw its shares rise more than 6% to $60.42 after posting fourth quarter earnings and fiscal year results that topped analyst expectations. RBC Capital Markets’ Amit Daryanani raised the firm’s target to $69 noting in a report that “we think the company is one of the few names in our semiconductor coverage that is positioned to see numbers go higher for multiple reasons” including Apple’s increased use of its Force Touch trackpad technology across its portfolio.

Square. Shares in the mobile payment-processing company have fallen 8% since its first day of trading Thursday. On Tuesday, the company said its underwriters bought an additional 4.05 million shares at the $9 IPO price, which brings the total size of the initial offering to about $280 million. Its shares had a stable Tuesday closing at $12.02.

HP.  The tech companyTuesday issued its last fiscal year financials before splitting into two companies, which subsequently went different directions in after-hours trading: PC-and-printer company HPQ stock fell 6%, while HP Enterprise (HPE) shares were up 3%. Both companies issued current quarter forecasts below Wall Street expectations and are seeking to cut costs.

VMware. Shares in the cloud computing company rose nearly 4% in Tuesday afternoon trading after tech news site Re/code reported that institutional investors have asked for some actions to improve the stock performance of VMware, which Dell acquired last month when it bought EMC for $67 billion. VMware shares have fallen nearly 25% since that deal was announced last month but rose about 4% Tuesday to $60.35.