Stock News: Apple Inc. (AAPL), General Motors Company (GM), Herbalife Ltd. (HLF)
The market has been reliant on the Fed for a while. When the Fed threatened to raise rates on Friday, the market fell. On Monday it rallied because it said it wouldn’t raise rates. I always knew there was never going to be a rate hike because the data is weak. Quite frankly, the data was stronger in the past and the Fed didn’t raise rates. This perspective won’t necessarily make you money because no one can predict the moves which have happened, but it is valuable to know what is going on.
Now the Fed is in its quite period, so it won’t be making statements until next week when the policy decision is made. The market will be looking at what it says it will do in December. However, with the market selling off, there is a chance the Fed has lost control of it.
Apple Inc.’s (NASDAQ:AAPL) pre-orders at Sprint are up 375% year over year for the first 3 days of reservations. T-Mobile has said the iPhone has “shattered all previous iPhone pre-order records.” T-Mobile said the Friday to Monday period of pre-orders was 4 times as much as the next most popular iPhone. Friday single day sales were the best of any phone it has ever sold.
General Motors Company (NYSE:GM) released a range estimate of 238 miles for its electric Chevy Bolt. The LA Times tested this and it was able to exceed this estimate. The auto reporter Charles Fleming completed a 240.5 mile test drive on a single charge. One point he made on the car is the following “The Bolt’s regenerative braking system, which captures energy on downhill stretches, gave back another 10 miles of range before I hit the 101 again north of Santa Barbara.”
Herbalife Ltd. (NYSE:HLF) has published a new video on therealbillackman.com. The video compares him to the management at Enron and WorldCom. Herbalife says Bill has used “highly questionable tactics to sully the company” which “might cross ethical and possibly legal lines” and “clearly do not meet the established norms of Wall Street and standards of activist investors.”