Meeting today, cook said the companys board remained in quote very, very active discussions about options for cash sharing. Some apple experts say the tech giant is more likely to divulge those options some time in march. I think they can modestly raise the dividend and modestly increase the buyback without doing anything special any other sort of financing things like that. What investors are looking for is a way to use that 100 a share in cash and getting it back to the u. S. For more dividends and more buybacks. Reporter the push for apple to share some of its wealth has accelerated this year, as the stock once a market darling lost a lot of its shine. After hitting a high of about 700 a share in september, it now trades in the mid 400s. This year alone the stock has slide 17 , as the Broader Market has rallied. But hoarding cash isnt apples only problem. Theres been a growing perception on wall street that apples Growth Prospects are dwindling. Thats as competition heats up for sma
Behind the selling a strong showing in italys elections by groups opposed to economic reform, on top of that, u. S. Equities face a looming friday deadline for massive government budget cuts, known as sequestration. The dow tumbled 216 points, the nasdaq fell nearly 46, and the s p 500 lost 28 points. While theres been much talk of a correction in the stock market, sequestration may not be the catalyst. Suzanne pratt reports. Reporter it is widely accepted on wall street that sequestration is coming. And, with it a new reason for the fragile u. S. Economy to sputter. But, what will the first phase of billions of dollars in federal spending cuts actually do to the u. S. Stock market . After all, major market averages are hovering close to alltime highs, and dont forget investors are finally warming up to equities again. Floor broker art cashin says todays selling was mostly a reaction to italys election, and that the stock market is not yet focused on sequestration. I dont think that ev
Profits in 2013. Weve seen First Quarter Earnings Growth expectations shrink to just a little over 0 from expectations of 3 or 4 . So, its almost as if for every percentage point companies were beating Fourth Quarter numbers analysts were cutting the First Quarter numbers by a similar amount. Reporter so even if sequestration doesnt kill the stock market rally. It could certainly amplify a correction that may have already gotten started. Suzanne pratt, n. B. R. , new york. Tom as suzanne mentioned, were just days away from 85 billion in federal spending cuts hitting the u. S. Economy. Today, the war of words over the sequester continued. President obama called on the nations governors today to pressure lawmakers over the sequester, saying citizens of their states will be out of work. The American People are out there ef row day meeting their responsibilities, giving it their all to provide thor their families and their communities. A lot of are you doing the same things in your respect
Welcome back to squawk. We have odd breaking news this morning. We reported earlier today that home depot and excuse me, office max and office depot were merging. Theyve taken that press release back. Apparently the negotiations are still ongoing. This according to dealbook. Well find out more throughout the day. Thats where things stand as we speak. Robert wolf has been our guest host. Thank you for being here. Its been a lot of fun today. Well see all of you tomorrow. Join us tomorrow. Squawk on the street begins right now. Good wednesday morning. Welcome to squawk on the street. Im melissa lee, with carl quintanilla, jim cramer and david faber at post 9 here at the New York Stock Exchange. The day after we broke a lot of records for the u. S. Markets, were looking at an update for the dow. The s p looking to give back just a little bit, along with the nasdaq. As for the picture over in europe, some comments from germans chancellor Angela Merkel about the euro saying between 130 and
In four weeks donald j. Trump will be sworn in. Until then barack obama is officially commander in chief. But unlike most other president s in waiting, trump jumped in with both feet to one of the most complicated, difficult Foreign Policy issues. He has been calling to scuttle a resolution at the u. N. Tonight a dispute over peace, politics and the role of the u. S. Presidency may be coming to a head at the United Nations. Just hours before the Security Council was set to vote for a resolution calling for israel to stop building settlements, the ballot was cut off. Averting a potential clash between the future and current u. S. President s over israel. We will have to wait and see what the results of the consultations are to see if the text moves forward. It demands israel immediately and completely cease settlement activities calling it a flagrant violation under International Law. Cnn learned that president obama was prepared to let the resolution pass, either by abstaining or votin