News on Apple's (AAPL) 10Q filing delay & Boeing's new contract (BA)
By Yaser Anwar, CSC of Equity Investment Advisor
Apple shares dipped as it announced delays in 10Q filing for 3Q
AAPL announced on friday a delay in the filing of its 10-Q third-quarter report with the SEC.
The delay was on account of "significant changes" to its 3rd Q results. Apple Computer said in its filing with the SEC, "The company cannot provide a reasonable estimate of the results because it will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants."
AAPL had issued a warning on Thursday last week that it would need to restate its earnings dating back to September 2002, as part of an investigation into improper accounting of stock option grants to employees.
AAPL’s share price was down $0.80, or 1.25%, at $63.27 at 1:18pm ET on the NASDAQ on Friday.
Boeing inks deal with Russia's VSMPO-Avisma
BA announced on friday that it had formed a new joint venture with Russia's VSMPO-Avisma to manufacture titanium parts for the new Boeing 787 Dreamliner.
The 50:50 equity joint venture would require an initial investment of $30 million from each company, senior executives of Verkhnaya Salda-based VSMPO-Avisma and Chicago-based Boeing said. Bloomberg quoted VSMPO’s Chief Executive Officer Vladislav Tetyukhin as saying in a telephonic interview that the new entity would enable Boeing to save up to 20% on the cost of titanium machining and processing.
The US State Department last week imposed sanctions on state arms dealer Rosoboronexport, which is to buy VSMPO-Avisma, for breaching a US law on trading with Iran.
Sources: Bloomberg & New Ratings
http://www.equityinvestmentideas.blogspot.com/
Apple shares dipped as it announced delays in 10Q filing for 3Q
AAPL announced on friday a delay in the filing of its 10-Q third-quarter report with the SEC.
The delay was on account of "significant changes" to its 3rd Q results. Apple Computer said in its filing with the SEC, "The company cannot provide a reasonable estimate of the results because it will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants."
AAPL had issued a warning on Thursday last week that it would need to restate its earnings dating back to September 2002, as part of an investigation into improper accounting of stock option grants to employees.
AAPL’s share price was down $0.80, or 1.25%, at $63.27 at 1:18pm ET on the NASDAQ on Friday.
Boeing inks deal with Russia's VSMPO-Avisma
BA announced on friday that it had formed a new joint venture with Russia's VSMPO-Avisma to manufacture titanium parts for the new Boeing 787 Dreamliner.
The 50:50 equity joint venture would require an initial investment of $30 million from each company, senior executives of Verkhnaya Salda-based VSMPO-Avisma and Chicago-based Boeing said. Bloomberg quoted VSMPO’s Chief Executive Officer Vladislav Tetyukhin as saying in a telephonic interview that the new entity would enable Boeing to save up to 20% on the cost of titanium machining and processing.
The US State Department last week imposed sanctions on state arms dealer Rosoboronexport, which is to buy VSMPO-Avisma, for breaching a US law on trading with Iran.
Sources: Bloomberg & New Ratings
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 5:20 AM
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