EmptyApple named a top pick
Citi Investment Research said Monday that it has added Apple to its new Top Picks Live list, boosting the company's shares 3.2% to $129.45. The list includes the bank's highest-conviction stock picks for the year. Citi said reductions to Apple's current quarter iPod and iPhone build plans were fully reflected in its stock price, which has declined 37% this year. It also reiterated above-average earnings expectations. The firm retained its "buy" rating on the stock with a price target of $212.
Seatwave secures $25 mil
Seatwave, Europe's largest online marketplace for buying and reselling tickets for theater, sports, music and other live events, has raised $25 million in a Series C funding led by Fidelity Ventures and existing investors. The company will use the funds to expand beyond the U.K. across Europe.
Hasbro Q4 profit jumps
Toy company Hasbro reported a 24% fourth-quarter profit increase to $133.7 million driven by the success of Transformers, Star Wars and other toys based on entertainment franchises. Hasbro's revenue grew from $1.1 billion to $1.3 billion. Hasbro also said CEO Al Verrecchia is stepping down, with current COO Brian Goldner taking over his post May 22.