Market Roundup (AAPL, DAL, RF, GM, PFE, CKR)
Research firm iSuppli has taken apart Apple’s (NASDAQ: AAPL) iPad worth $499 and has figured that it would costs about $259.60 in materials. This means that AAPL is registering a nice margin on the tablets and “perhaps leaving room for future price cuts.” The firm said that the iPad had more chips than it expected.
Delta Air Lines (NYSE: DAL) says its March passenger traffic rose 3% on a 1.6% decline in capacity. The load factor, which is the percentage of seats filled, rose to 84.2% from a year-ago level of 80.5%.
The SEC has charged Morgan Keegan (NYSE: RF) and its two employees with falsely exaggerating the value of securities tied to subprime mortgages.
General Motors (NYSE: GM) says it has lost $4.3 billion in the second half of 2009, while pulling out of bankruptcy and repaying debt to the government. The automaker had, however, reported $57.5 billion in revenues for that period under the fresh-start accounting. GM said that it still expects to generate profits this year.
With Pfizer (NYSE: PFE) developing treatments for Alzheimer’s disease, cancer and pain, the company expects to have more products with sales in excess of $1 billion. PFE’s head of pharmaceutical research said that the company is in the golden age of drug discovery. Pfizer aims to be a company that will generate solid growth, despite it currently registering single-digit growth.
CKE Restaurants (NYSE: CKR) said that it has received a new takeover bid. CKR expects this bid to lead to a proposal superior to Thomas H. Lee Partners' $619 million offer.
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