On Wednesday, Shares of Apple Inc. (AAPL: NASDAQ), lost -1.31% to $107.32.
Apple has agreed to pay about $350 million to settle a tax-evasion case in Italy after a two-year investigation into whether the Silicon Valley Company moved more than $1 billion in revenue it made in Italy to its Irish partner.
The deal, declared by Italian prosecutors Wednesday, comes not too long after Apple CEO Tim Cook appeared on “60 Minutes” and defended his company’s tax and offshoring practices — “we pay every tax dollar we owe,” he said — and ahead of an predictable decision next year on a separate European investigation into the legality of the company’s tax arrangements in Ireland. EU regulators have accused Ireland of giving special treatment to Apple
The Italian settlement covers back taxes owed for the years 2008 to 2013, and could have some effect on a criminal tax-evasion investigation involving three Apple employees in Italy, according to the Associated Press.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, education, and enterprise and government customers worldwide.
Shares of SandRidge Energy, Inc. (SD: NYSE), declined -12.73% to $0.17, during its last trading session.
Oklahoma-based oil and Gas Company was a favorite of Omega Advisors’ Leon Cooperman during CNBC’s Delivering Alpha conference in 2014. Cooperman has since abandoned the position, as the stock has fallen, according to TheStreet.
Last December, Cooperman questioned SandRidge’s survival, at current prices. “If present prices persisted for several years, SandRidge’s survival would be an issue,” he said in an interview with CNBC. “So, I haven’t added to it and it has become a smaller part of my portfolio because of the big price decline.”
In 2015, SandRidge took a number of measures to shore up near-term liquidity, which comprised suspending its preferred dividend and initiating several bond repurchases and exchanges to address its $925 million in debt. The company now has no bond maturities before 2020. Following SandRidge’s first bond exchange in August, Moody’s downgraded the company even deeper into junk territory — to Caa2 from Caa1. TheStreet Reports
Finally, Shares of Weight Watchers International, Inc. (WTW: NYSE), ended its last trade with 19% gain, and closed at $23.05.
Weight Watchers is getting another boost from Oprah Winfrey, according to AP.
The weight loss company’s shares are soaring as a TV commercial starring Winfrey starts to air.
The commercial shows past videos of Winfrey working out and referencing her struggle with weight, a frequent topic of Winfrey’s former talk show. The ad ends with Winfrey asking viewers if they’re ready to join her. “Let’s do this together,” she says.
She tweeted the ad to her more than 30 million followers on Tuesday. AP Reports
Weight Watchers International, Inc. provides weight administration services worldwide. The company operates through North America, United Kingdom, Continental Europe, and Other segments. It offers a range of products and services comprising nutritional, exercise, and behavioral tools and approaches.