Morning Buzz: Apple (AAPL), Yahoo (YHOO), FedEx (FDX), General Electric (GE)

Apple Inc (AAPL) — Federal authorities have canceled Apple’s much-anticipated hearing today saying they may have found a way to decrypt San Bernardino shooter’s phone without the tech giant’s help.

In other Apple news this morning, Arstechnica reports that Cupertino is in “advanced talks” to acquire British chip design firm Imagination Technologies.

Citigroup (C) reported on Tuesday that they have lowered their rating for Yahoo! Inc. (YHOO). The firm has downgraded the name from ‘Buy’ to ‘Neutral’ while increasing its price target to $37 from $32. Citi noted that the equity’s current value accurately reflects the value creation likely possible through a sale or spin-off of the core business.

Yahoo recently traded at $35.47, a gain of $0.30 over Monday’s closing price. The name has a current market cap of $33.58 billion.

Shares of FedEx Corporation (FDX) are lower by 1.27% to $162.54 in pre-market trading on Tuesday following a WSJ report detailing that the company plans to expand its global e-commerce business in China.

General Electric Company (GE) shares are marginally lower in pre-market trading after the company signed a memorandum of understanding with the Cuban government, intending to sell power, aviation, and medical equipment in that country.

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