On Monday, Shares of Apple Inc. (NASDAQ:AAPL), lost -0.35% to $126.
iPhone sales are poised to impress again in the company’s June quarter results, Deutsche Bank analyst Sherri Scribner said in a report Sunday. But Apple Watch remains a “wild card,” given limited details about its initial sales from the company, she said, according to Investor’s Business Daily.
Even though Apple has signaled that it won’t talk about early sales of its smartwatch, Scribner believes investors will be disappointed if Apple does not disclose numbers for the new product. Investor’s Business Daily Reports.
In other news, Apple’s card-less payment system Apple Pay is predictable to be launched in the UK on July 14.
The Cupertino-based tech giant’s card-less payment system allows users to make payments using their iPhones and Apple Watches. The system relies on tokenization technology, with which credit and debit card details are first substituted by a random string of characters and then stored in a virtual vault.
According to reports, eight leading British Banks will support the forthcoming payment system, however Barclays PLC (ADR)(NYSE:BCS) is yet to finalize its negotiations with Apple. Transport For London will also support Apple Pay, allowing London commuters to make touch-less payments on the tube, buses and trains, while many high-street brands, like Boots, M&S and Nandos, will also be accepting payments made through the new card-less system.
Apple first declared its plan to introduce the payment system in the UK, at the WWDC in June, but did not disclose the exact launch late. At present neither Apple nor Waitrose has made a statement regarding the forthcoming launch.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Shares of Johnson Controls Inc. (NYSE:JCI), inclined 2.22% to $50.54, during its last trading session.
July 2 was the formal launch of Yanfeng Automotive Interiors, a joint venture between Yanfeng Automotive Trim Systems Co., Ltd, a wholly owned partner of Huayu Automotive Systems Co., Ltd (HASCO), which is the component group of Shanghai Automotive Industry Corporation (SAIC) and Johnson Controls.
Yanfeng Automotive Interiors is the world’s largest automotive interiors parts supplier with Johnson Controls, a global multi-industrial, having a 30 percent share of the company which will be headquartered in Shanghai. The new company will have revenues of $8.5 billion and an order backlog of $10 billion.
The new company will have more than 90 manufacturing, development, engineering and customer service locations around the world. The product portfolio will comprise instrument panels and cockpit systems, door panels, floor consoles and overhead consoles.
The decision to spin-off its interiors business into a joint venture is one in a series of planned actions taken by Johnson Controls to strengthen and rebalance its portfolio of operating businesses.
Johnson Controls, Inc. operates as a diversified technology and industrial company worldwide. Its Building Efficiency segment designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, in addition to building administration systems, controls, and security and mechanical equipment.
Finally, Dollar Tree, Inc. (NASDAQ:DLTR), ended its last trade with 0.34% gain, and closed at $80.08.
Dollar Tree, declared that it has accomplished the acquisition of Family Dollar Stores, Inc., a leading national discount retailer offering name brands and quality, private brand merchandise.
“We are happy to declare we have accomplished our acquisition of Family Dollar and we formally welcome the Family Dollar team to the Dollar Tree organization,” stated Bob Sasser, Chief Executive Officer. “This is a transformational opportunity for our business to offer broader, more compelling merchandise assortments, with greater values, to a wider array of customers. This acquisition will extend our reach to low-income customers, while strengthening and diversifying our footprint. We plan to leverage best practices across both organizations to deliver noteworthy cost synergies. Combined, our growth potential is improved with improved opportunities to enhance store productivity and to open more stores across multiple banners.”
Under the terms of the merger agreement first declared and unanimously approved by each company’s Board of Directors in July 2014, Family Dollar shareholders are entitled to receive $59.60 in cash and 0.2484 of a share of Dollar Tree common stock for each share of Family Dollar common stock.
Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise at the fixed price of $1.00. The company’s stores provide consumable merchandise, which comprises candy and food, and health and beauty care products; and everyday consumables, such as paper and chemicals, and frozen and refrigerated food.
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