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[ October 23, 2014 | Author: admin | Views: 62375 | Weather: | Mood: normal]

It wasn’t all bad for Apple (NASDAQ: AAPL  ) when management was grilled by lawmakers last week over its tax strategies. Several members of the Senate subcommittee bashed the corporate income tax code instead of Apple, noting that Apple was legally playing by the rules, albeit extremely effectively. Besides, plenty of other tech giants use the same strategy. Well, another lawmaker has now rushed to the Mac maker’s defense: former senator John E. Sununu. The blame game The former Republican senator from New Hampshire has written an op-ed for The Boston Globe aptly titled, “Not Apple’s fault.” Sununu notes the irony that Senator Carl Levin, who spearheaded the anti-Apple sentiment, was the only lawmaker whose tenure goes back as far as Apple’s tax structure. Levin took office in 1979, just a year before Apple established its Irish subsidiaries in 1980. Like all American corporations, Apple just seeks to legally minimize its … Continue reading

[ October 23, 2014 | Author: admin | Views: 16164 | Weather: | Mood: normal]

An appraisal of the art in the Detroit Institute of Arts by Chistie’s has valued the museum’s collection at between $452 million and $866 million. DETROIT (CNNMoney) A group of leading foundations have offered $330 million to keep art on display in the Detroit Institute of Arts while also helping city retirees who are at risk of having their pension benefits slashed. It’s not clear if the offer will be accepted and it would close only a small fraction of the huge debt that forced Detroit into bankruptcy last year. But it would at least help inject some cash into the reorganization of the city and eliminate the risk that Detroit’s treasured art collection could be sold off to private investors to pay its debts. The offer was reached after discussions with a federal judge serving as a mediator in the city’s bankruptcy case. Since the Detroit Institute of Arts … Continue reading

[ October 23, 2014 | Author: admin | Views: 20756 | Weather: | Mood: normal]

Wolfe Research’s Hunter Keay and Jared Shojaian note that analyst earnings forecasts for American Airlines’ (AAL) have risen much faster than its stock: We looked at how 2015 consensus EPS estimates have changed YTD compared to YTD stock performance for the airlines we cover. Simplistically stock prices should trend with changes in consensus EPS estimates, all else equal. P/E multiple contraction/expansion occurs when they dont. American Airlinesthe most out of sync to the upside.American Airlines’ 2015 consensus EPS estimates have increased 63% YTD whileAmerican Airlines’ stock is up just 56% YTD.American Airlines is the only U.S. airline stock we cover whose estimates have grown faster than the stock, implying YTD P/E multiple contraction. Its also worth noting that 2015 consensus EPS estimates forAmerican Airlines still feel too light to us. If numbers keep going up, which we think they should, then it seems the stock should go up, too. The … Continue reading

[ October 23, 2014 | Author: admin | Views: 51009 | Weather: | Mood: normal]

Las Vegas is easily America’s city that is most synonymous with recreational risk-taking. Atlantic City, especially for those on the East Coast, has also long been known as a place to take a chance on blackjack or drop coins in a slot machine. But in truth, the United States is dotted with gambling havens from coast to coast. With tax rates up to 40%, these businesses can generate hundreds of millions in state revenues. We decided to look at the states with the most revenue from commercial gambling in 2012. Some of the 13 states that made our list won’t surprise you. Others, such as Iowa, may. The numbers do not include tribal gaming, because The National Indian Gaming Association does not publish state-by-state revenue, though revenue on all Native lands combined was $27 billion in 2013. Including all of the money tribal casinos generate would place California and Connecticut … Continue reading

[ October 23, 2014 | Author: admin | Views: 29706 | Weather: | Mood: normal]

With shares of Chevron (NYSE:CVX) trading around $120, is CVX an OUTPERFORM, WAIT AND SEE or STAY AWAY? Lets analyze the stock with the relevant sections of our CHEAT SHEET investing framework: T = Trends for a Stock’s Movement Chevron engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments: Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas while the Downstream segment engages in refining crude oil into petroleum products. Through its segments, Chevron is able to provide a range of energy products and services to a wide variety of companies around the world. As economies and businesses expand, Chevron is poised to provide the energy products and services required to fuel growth around the world. 10 Best Chemical Stocks To Watch Right Now: Linde AG (LIN) Linde AG is a … Continue reading