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U.S. Morning Call: 'Apple' of investors' eye breaks record

Tuesday, August 21, 2012 - 03:06

Aug 21 - Apple's market value climbed past $623 bln a day before the tech giant and Samsung prepare closing arguments in a heated patent trial.

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And that is what the most valuable company in history looks like. Apple looks slightly in the premarket so above 669. Dollars. Let's get the ball rolling on your morning call for Tuesday. Forget New York City bears and new Big Apple the tech giant became the most valuable public company ever. Surpassing the record set by Microsoft during the heyday at tech stocks in 1999. It's new market cat a whopping 623. Point five billion dollars. Apple shares rose over two and a half percent yesterday as investors bet on the September release of the iPhone 5. The company's record breaking day comes -- and it's that the patent case with rival Samsung. The two tech companies will give their closing arguments today. Each would get two hours to convince the nine member jury that the other violated its intellectual property. And hits just keep on coming for FaceBook investors. A regulatory filing shows Facebook's very own director Peter TL. Cashed out his stake in the social network selling twenty million shares when the first lockup expired last week. Two was among Facebook's earliest backers and still owns roughly five point six million shares in the company. Facebook's stock which did briefly below nineteen dollars on Tuesday is struggling to gain ground in the premarket today. The German Economy losing steam and early sign comes from Siemens. A German newspaper reported that the engineering powerhouse is an internal talks. To demolish thousands of jobs -- trying to cut costs after a big drop in new orders for July with customers putting off investments in Europe. Similar weakness jobs elsewhere in the globe. Sources say Japanese TV -- shark may cut 3000 more jobs on top of the 5000 already announced. By selling to television assembly plant. That's 15%. Of the workforce. Now for some stocks to watch Barnes & Noble reports Q1 earnings before the -- Investors keen to see -- sales of their -- let me note didn't but. Best buy also due out shortly the retailer has posted same store sales declines in seven of the last eight quarters. Today's results likely to prepare new CEO who -- relief for the task that lies ahead. Out later today Dell lazy boy and wet seal and one more stock on our radar seat group. FT reports CEO Vikram Pandit has rejected calls for big banks to split up. Sending the stocks slightly higher in the premarket. Taking a look at stocks futures now -- point to a higher open this morning. European stocks on the rise as well keeping their four week rally alive. And climbing against a basket of major currencies hitting a two week high vs the dollar. That's your morning call this Tuesday we have more news coming up so follow us on Twitter at Reuters Insider. And check out our energy to channel at Reuters dot com slash writers TV. I'm Lisa Bernhard this is Reuters.

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U.S. Morning Call: 'Apple' of investors' eye breaks record

Tuesday, August 21, 2012 - 03:06