Late Market Roundup (DB, AAPL, ADBE, DAL, HA, GOL)
Shares of Deutsche Bank AG (NYSE: DB) fell after Bloomberg said in a report that DB was looking forward to raising more than $11 billion by selling stocks. Equity strategist Peter Boockvar of Miller Tabak said, "They will likely not be the only bank that will have to raise more money." Although the update on Germany's largest bank caused equities to slide, the news came against the backdrop of a marginally overbought market, said Boockvar.
Apple Inc (NASDAQ: AAPL) said in a statement that it has relaxed restrictions on mobile app developers to develop iPhone and iPad applications. Although AAPL has not adopted Adobe Systems Inc’s (NASDAQ: ADBE) Flash completely, shares of ADBE jumped around 12%.The news indicates a feeling of competitive pressure on AAPL from Android phones. Analyst Ross MacMillan of Jefferies & Co. said, "Apple's reversal in stance may signal that it is feeling greater competitive pressure from Google's Android platform."
The US dollar retrieved after the weekly jobless claims beat the consensus estimates. The dollar index (DXY) traded at 82.706, up from 82.336 earlier in the session. Jens Nordvig, head of G10 currency strategy at Nomura Securities said, "In general, over the last two weeks, the market is extremely erratic. We have very, very quick 1% moves in one direction or the other.”
The Department of Labor announced a decline in initial unemployment benefit claims of 27,000 to 451,000 last week, which was less than expected by analysts.
Delta Air Lines Inc (NYSE: DAL) announced that it has entered into a code-share agreement with Hawaiian Holdings Inc (NASDAQ: HA), which will provide access to inter-island flights to its customers. From September 15, HA flights will connect DAL customers between Honolulu and Kahului, Lihue, Kona and Hilo, and also between Kona and Kahului. Delta had signed a similar code-sharing agreement with Gol Linhas Aereas Inteligentes SA (NYSE: GOL) in April this year.
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