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U.S. Morning Call: Apple shares fall below $500 in premarket

Monday, December 17, 2012 - 03:39

Dec 17 - Apple is in the spotlight as the stock falls below $500 in premarket trade, despite news that it sold more than 2 million of its new iPhone in China.

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The fact that weekend let's kick -- your Monday morning call with this chart of apple. Notice something different shares treading near the 500 dollar level today after falling to 497. Dollars in the premarket earlier this morning. For the first time since February. City shrinking its price target by a hundred dollars to 575. And it from buy to neutral. Apple Stock has tumbled nearly 30% in the last three months. All this despite a record debut in China this weekend where apple sold over two million new iPhone 5 devices. So what's next for the next text. As the stock continues to fall according to CNET blog five things the company may do in 2013. Topping the list released the much rumored apple TV next up several more nasty court fights. Launch I am radio streaming service like Spotify. Improve apple maps and speaking up Siri. In other tech news Google may end here hiding out possibly dodging a regulatory bullet. The Wall Street Journal reports that the FTC may -- a two year investigation into Google search practices. As the company makes some voluntary changes. And -- that it is to grant CEO Kevin -- and verbally agreed to a 525. Million dollar offer from Twitter. A week before face but came in and swoop the company up for one billion dollars. The New York Times reports that Twitter executives were shocked that question went ahead with the FaceBook deal without giving him a chance to make it counter offer. Hash tag disappointment. Our stocks to watch this morning we look to president Obama's call for change in the wake of the tragedy in Newtown Connecticut. In the coming weeks -- use whatever power. This office holds string gauge my fellow citizens from law enforcement. To mental health professionals to parents and educators. In an effort aimed at preventing more tragedies like us. Because what choice do we have. We can't accept. Events like this as rotate. Check -- shares of Smith and west in their trading about two and a half percent lower in the premarket. Also Sturm -- stock trading lower before the open. Newtown area gun businesses say sales have picked up since president Obama's election -- trend seen across the nation. Turning out AIG the insurance company is looking to raise as much as six point five billion dollars. From the sale of its remaining stake in AIA group in Asia's second largest securities L ever. And KKR getting into Asia not out of it. The investment firm raised six billion dollars for its second pan Asia fund. According to sources the largest private equity pool ever assembled for the region take a look at US stock futures this morning they're pointing to a slightly higher start. Asian markets also in focus with the Nikkei surging to nine month a nine month high. Japan's new prime minister shoe is on Friday giving hope to investors. As he calls for aggressive monetary stimulus and day after being elected in a landslide victory. That's it for Monday's morning -- follow us on Twitter at Reuters Insider and check out -- would urge you to check out at Reuters dot com slash -- TV. I'm Lisa Bernhard this as --