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Apple unveils iPhone 12 with 5G, including ‘Mini’ and ‘Pro’ versions By Reuters

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© Reuters. FILE PHOTO: The logo of Apple company is seen outside an Apple store in Bordeaux

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By Stephen Nellis

(Reuters) – Apple Inc (NASDAQ:) on Tuesday launched the iPhone 12 with faster 5G connectivity starting at $799, which the Cupertino, California company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.

The iPhone 12, with a 6.1-inch display, has flat sides with a flush display, similar to the company’s iPhone 5 and a departure from rounded edges in recent years.

Apple also introduced a “Mini” version with a 5.4-inch screen for $699 and a “Pro” version with three cameras starting at $999.

Pre-orders for the iPhone 12 and iPhone 12 Pro begin Oct. 16 and go on sale Oct. 23. The iPhone Mini will be available for pre-order Nov. 6 and in stores Nov. 13.

Verizon Communications Inc (NYSE:) CEO Hans Vestberg said the new iPhones would work with the carrier’s “ultrawideband” 5G network designed to alleviate bottlenecks in major cities like New York and Los Angeles as well as in crowded areas like NFL stadiums.

Apple said all iPhone 12 models in the United States will support millimeter wave 5G, the fastest variant of the technology, as well as lower-frequency bands. Some rival Android devices support only the lower-frequency versions of 5G.

Apple said it had tested 5G on more than 800 carriers in 30 regions globally.

Shares of Apple fell over 3% during the event, erasing $77 billion worth of stock market value.

In China, the biggest online video platforms, including Tencent Holdings (OTC:) and Bilibili (NASDAQ:) Inc, canceled Apple’s livestream event without explanation, Bloomberg News reported.

HOMEPOD MINI

Apple also announced a HomePod Mini smart speaker that will come in white and gray, cost $99 and be shipped starting Nov. 16.

The new HomePod offers features like allowing use by multiple users in a home and sending information to car-based systems. For example, a user can tee up driving directions to a store after asking the HomePod what time it closes. Many of the features serve as a catch-up to similar offerings from Amazon.com Inc (NASDAQ:) and Alphabet (NASDAQ:) Inc’s Google.

The annual launch event is nearly one month later than normal and comes as the coronavirus pandemic has disrupted Apple’s well-oiled machine for designing and churning out its biggest-selling product.

The iPhones announced Tuesday will test whether Apple can keep up that streak and ride a wave of consumer excitement around 5G wireless data networks, whose speediest variants outstrip their predecessors’ data rates multiple times over. Android devices from Samsung Electronics (OTC:) Co Ltd and others have featured the new networking capabilities for months, and analysts say 5G phones are driving upgrades.

But Apple is in a delicate position of needing to excite consumers with 5G without setting them up for a disappointment: For many of its fans, it will be their first experience with 5G networks, which in the United States remain years away from delivering dramatic speed boosts for most consumers. Some analysts worry Apple will be selling a high-powered sports car while its customers remain confined to sleepy village roadways.

Apple in January quit giving financial guidance, citing uncertainty from the pandemic. But despite waves of retail store closures and travel bans that delayed the development of the iPhone because Apple engineers were not able to cross the Pacific to Chinese factories as frequently, Apple’s financial results have largely bucked the pandemic.

In July at its most recent earnings, the company posted year-on-year revenue gains across every category and in every geography as consumers working and learning from home during the COVID-19 pandemic turned to its products and services.

Apple last month launched new watch models with blood oxygen sensors and updated its iPad models while also rolling out a new bundle of its paid subscription services called Apple One.

The company has also committed to introducing new Mac computers before year’s end based on processors of its own design rather than those from Intel Corp (NASDAQ:).





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European stocks fall as healthcare, construction sectors drag By Reuters

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© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

By Sruthi Shankar

(Reuters) – European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson (BS:).

The pan-European STOXX 600 () fell 1.0%, in sharp contrast to Asian markets and Wall Street futures that steadied on hopes of a fresh U.S. stimulus package.

Most European sectors slipped, with healthcare stocks () proving the biggest drag, while banking stocks () were supported by rising U.S. and European government bond yields.

Nestle (S:) lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains.

Sweden’s Ericsson (ST:) jumped 5.5% as higher margins and China’s 5G rollout helped the company beat quarterly core earnings estimates.

“Earnings have been generally well above expectations, and guidance has been a positive surprise,” said Patrick Moonen, principal strategist in the multi-asset team at NN (NASDAQ:) Investment Partners.

“But there are other elements that are currently at play and may have a bigger impact on the market performance than earnings.”

Moonen pointed to many European countries reimposing mobility restrictions following a surge in COVID-19 cases that could weigh on fourth-quarter economic activity.

The STOXX 600 has struggled to break out of a trading range since June, when it recouped a large part of the early pandemic-driven losses. The benchmark is still about 16% below its all-time high.

London markets underperformed, with the exporter-heavy FTSE 100 () hit by a surge in pound after bullish Brexit comments. ()

Vivendi (PA:) rose 2.9% after the French media group reported a bigger-than-expected quarterly sales and unveiled plans to list its most-prized asset, Universal Music Group, in 2022.

Third-quarter profits for companies on the STOXX 600 are expected to drop 34.8%, according to Refinitiv data, a slight improvement from the 36.7% predicted at the start of the earnings season.

Of the 29 companies that reported so far, 75.9% have topped earnings expectations.

Gold miner Centamin Plc (L:) slumped 20.7% to the bottom of STOXX 600 after cutting its 2020 production forecast.

Construction companies also took a knocking, with Assa Abloy (ST:), the world’s biggest lockmaker, falling 3.9% after it reported a drop in quarterly sales.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Japan stocks higher at close of trade; Nikkei 225 up 0.31% By Investing.com

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© Reuters. Japan stocks higher at close of trade; Nikkei 225 up 0.31%

Investing.com – Japan stocks were higher after the close on Wednesday, as gains in the , and sectors led shares higher.

At the close in Tokyo, the added 0.31%.

The best performers of the session on the were Takara Holdings Inc. (T:), which rose 7.67% or 83.0 points to trade at 1165.0 at the close. Meanwhile, The Japan Steel Works, Ltd. (T:) added 7.40% or 157.0 points to end at 2280.0 and Pacific Metals Co., Ltd. (T:) was up 5.92% or 95.0 points to 1701.0 in late trade.

The worst performers of the session were NEC Corp. (T:), which fell 2.25% or 130.0 points to trade at 5640.0 at the close. Yahoo Japan Corp. (T:) declined 1.82% or 14.0 points to end at 756.0 and Olympus Corp. (T:) was down 1.79% or 37.0 points to 2027.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2348 to 1140 and 212 ended unchanged.

The , which measures the implied volatility of Nikkei 225 options, was unchanged 0% to 20.83.

Crude oil for December delivery was down 1.08% or 0.45 to $41.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 1.14% or 0.49 to hit $42.67 a barrel, while the December Gold Futures contract rose 0.35% or 6.75 to trade at $1922.15 a troy ounce.

USD/JPY was down 0.35% to 105.12, while EUR/JPY fell 0.09% to 124.58.

The US Dollar Index Futures was down 0.26% at 92.812.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Iberdrola’s Avangrid to buy U.S. firm PNM Resources for $4.3 billion By Reuters

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© Reuters. The logo of Spanish utility company Iberdrola is seen outside its headquarters in Madrid

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By Isla Binnie

MADRID (Reuters) – Spanish renewable energy firm Iberdrola (MC:) announced plans to expand in the United States on Wednesday with a deal to buy utility PNM Resources (N:) through its U.S. unit Avangrid (N:) worth $8.3 billion including debt.

Absorbing PNM into Avangrid will create the third-largest renewable energy operator in the United States, with business spanning 24 states, Iberdrola said in a statement.

On Tuesday Reuters reported that the deal was being discussed.

PNM’s board unanimously approved the $4.3 billion offer to its shareholders of $50.3 per share, the filing said. Iberdrola expects the deal to close in 2021 and start boosting financial results from the first year.

Green energy targets and increasing investor interest in protecting the environment have buoyed Iberdrola and other renewables-focused utilities.

The pandemic has also seen U.S. utilities look harder at consolidation to cut costs and spur investment.

Active in New Mexico and Texas, PNM gives Avangrid a route to expand its regulated business beyond the U.S. northeast.

PNM could also benefit from Avangrid’s renewables experience as it works to cut emissions.

Iberdrola said the merged company would have assets worth $40 billion, generate core earnings of around $2.5 billion and net profit of $850 million.

This is Iberdrola’s eighth deal this year as part of a 10 billion euro ($11.85 billion) investment drive in which it has already bought assets in France, Australia and Japan.

CEO Ignacio Galan said his strategy consisted of: “Friendly transactions, focused on regulated businesses and renewable energy, in countries with good credit ratings and legal and regulatory stability, offering opportunities for future growth”.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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