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Reuters reported on Wednesday that Apple Inc. (NASDAQ: AAPL) is believed to be planning a $1 billion bond issue in Taiwan for the first ever in the country.
Wall Street Journal reported on Thursday the company is looking to expand its bond issuance in the region and plans to raise $3 billion to $4 billion in Taiwan and Australia. The publication, citing "a person with knowledge of the plans," noted that Apple will continue using the proceeds from debt offers to fund its stock buyback program and dividends rather than repatriating its offshore cash which is subject to taxes.
Related Link: Why Is Apple Raising $1 Billion Through A Bond Raise In Taiwan?
Apple recently committed to returning $250 billion to shareholders through March 2018, representing an uptick from its prior pledge in which the company said it will return $200 billion by March 2017 through dividends and share buybacks.
Top High Tech Stocks To Invest In 2016: Apache Corporation(APA)
Apache Corporation, together with its subsidiaries, engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company has exploration and production interests in the Gulf of Mexico, the Gulf Coast, east Texas, the Permian basin, the Anadarko basin, and the Western Sedimentary basin of Canada; and onshore Egypt, offshore Western Australia, offshore the United Kingdom in the North Sea, and onshore Argentina, as well as on the Chilean side of the island of Tierra del Fuego. Apache Corporation sells its natural gas to local distribution companies, utilities, end-users, integrated oil and gas companies, and marketers; and crude oil to integrated oil companies, marketing and transportation companies, and refiners. As of December 31, 2009, it had total estimated proved reserves of 1,067 million barrels of crude oil, condensate, and natural gas liquids, as well as 7.8 trillion cubic feet of natural gas. The company was founded in 1954 and is based in Houston, Texas.
- [By Shauna O’Brien]
On Wednesday, oil and gas company Apache Corporation (APA) announced that it has agreed to sell some of its gas producing properties in Canada for $112 million.
The company will sell its Hatton, St. Lina, Marten Hills, Snipe Lake, Valhalla and a part of its Hawkeye properties. These properties are primarily located in Saskatchewan and Alberta and total approximatly 4,000 operating wells and 1,300 non-operating wells. The average daily production for these locations is about 38 million cubic feet of natural gas and 750 barrels of oil.
The sales will be made in two separate deals. Both of these deals are expected to close in the fourth quarter.
Apache shares were mostly flat during pre-market trading Wednesday. The stock is up 12% YTD.
- [By Matt Egan]
Before Tuesday, Big Oil’s credit ratings had been left largely intact by S&P. But with oil sinking back to $30 a barrel, the ratings firm took action by downgrading Chevron (CVX), EOG Resources (EOG), Apache (APA), Devon Energy (DVN), Hess (HES), Marathon Oil (MRO), Murphy Oil (MUR), Continental Resources (CLR) and Southwestern Energy (SWN).
- [By Shauna O’Brien]
Oppenheimer reported on Tuesday that it has raised its rating on energy company Apache Corporation (APA).
The firm has upgraded APA from “Perform” to “Outperform,” and has given the company a $100 price target. This price target suggests a 12% increase from the stock’s current price of $87.57.
Analysts believe that the current stock price already reflects risks and the company is repurchasing shares and debt.
Apache shares were up 79 cents, or 0.91%, during Tuesday morning trading. The stock is up 12% YTD.
Top High Tech Stocks To Invest In 2016: Home Federal Bancorp Inc.(HOME)
Home Federal Bancorp, Inc. operates as the holding company for Home Federal Bank that provides financial products and services to consumers and businesses. The company?s deposit products include checking accounts, money market deposit accounts, savings accounts, and certificates of deposits. Its loan products portfolio comprises one-to-four family residential real estate, real estate construction, and commercial and multifamily real estate loans; commercial business loans for various business purposes, such as working capital and equipment financing, and capital and general investment; and consumer loans, including home equity loans and lines of credit, savings account loans, automobile loans, recreational vehicle loans, and personal unsecured loans. The company offers its products and services in the Treasure Valley region of southwestern Idaho, including Ada, Canyon, Elmore, and Gem counties; the Tri-County region of Central Oregon comprising the counties of Crook, Desc hutes, and Jefferson, as well as the communities of Eugene, Grants Pass, and Medford; and Lane, Josephine, Jackson, and Multnomah counties in Western Oregon. As of January 27, 2012, it operated 28 full-service banking offices. The company was founded in 1920 and is headquartered in Nampa, Idaho.
- [By Sofia Horta e Costa]
Sanofi fell 2.6 percent after withdrawing a U.S. application for a diabetes drug. Cie. Financiere Richemont (CFR) SA dropped 2.3 percent as revenue missed analysts estimates. Vivendi SA advanced 2.7 percent after saying it will begin a formal study to separate its French phone unit from its media businesses. Home Retail Group Plc (HOME) surged 5.4 percent to a two-year high as sales exceeded projections.
Top 5 Integrated Utility Companies To Buy Right Now: Honeywell International Inc.(HON)
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides turbine propulsion engines, auxiliary power units, environmental control and electric power systems, engine systems and accessories, avionic systems, aircraft lighting, inertial sensors, control products, space products and subsystems, and landing products for aircraft manufacturers, airlines, business and general aviation, military, space, and airport operations, as well as offers management and technical, logistics, aircraft wheels and brakes and repair, and overhaul services. The company?s Automation and Control Solutions segment provides environmental and combustion controls, and sensing controls; security and life safety products and services; scanning and mobility products; process automation products and solutions; and building solutions and services for homes, buildings, and industrial facilities. Its Specialty Materials segment prov ides resins and chemicals; hydrofluoric acid; fluorocarbons; fluorine specialties; nuclear services; performance chemicals; chemical processing sealants; fibers and composites; specialty films and additives; imaging and electronic chemicals; semiconductor materials and services; catalysts, adsorbents, and specialties; and renewable fuels and chemicals. It offers these products for refining, petrochemical, automotive, healthcare, agricultural, packaging, refrigeration, appliance, housing, semiconductor, wax, and adhesives segments. This segment also provides process technology and equipment for the petroleum refining, and petrochemical and gas processing industries. The company?s Transportation Systems segment provides charge-air systems; thermal systems; filters, spark plugs, electronic components, and car care products; and brake hard parts and other friction materials for passenger cars and commercial vehicles. The company was founded in 1920 and is headquartered in Morri s Township, New Jersey.
- [By Ben Levisohn]
Oppenheimer’s Ari Wald compare the current market to 1983, and recommend owning top-performing economically sensitive stocks like 3M (MMM), Microsoft (MSFT), and Honeywell International (HON) before the S&P 500 breaks out:
- [By Ben Levisohn]
Bernstein’s Steven Winoker and team consider the implications of Honeywell International’s (HON) $1.5 billion purchase of Intelligrated: