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19:30 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. China has warned Canada that there would be severe consequences if it did not immediately release Huawei Technologies chief financial officer, calling the case "extremely nasty," according to Reuters. Meng Wanzhou was arrested in Canada on December 1 and faces extradition to the U.S., which alleges that she covered up her company's links to a firm that tried to sell equipment to Iran despite sanctions, the publication noted. Meanwhile, the executive has argued that she should be let out on bail while awaiting an extradition hearing due to severe hypertension and fears for her health while incarcerated in Canada, Reuters said in a separate article. According to reports, Huawei accounted for nearly 17% of Lumentum's (LITE) sales in FY17, about 15% of FY17 sales for Oclaro (OCLR) and 11% of FY17 sales for Finisar (FNSR). The company competes in China with ZTE (ZTCOY), Infinera (INFN) and Ciena (CIEN). 2. U.S.-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, Reuters reported, citing U.S. Trade Representative Robert Lighthizer, clarifying there is a "hard deadline." 3. When Microsoft (MSFT) leapfrogged Apple (AAPL) to become the world's most valuable company, the milestone carried a deeper significance about the future as Wall Street recognized the value of subscriptions over traditional sales, Alex Eule wrote in this week's edition of Barron's. The software industry has spent the past decade transitioning to a subscription model and for investors, the payoff has been significant, the report noted. Recurring payments have changed the way that Americans consume software, music, movies, television, fitness, clothing, and food, and even tractor maker Deere (DE) is trying to sell subscriptions to farmers, the publication added. 4. Disney's (DIS) "Ralph Breaks the Internet" stayed at number one for the third consecutive weekend, with another $16.1M for a domestic total of $140.9M and a global cume of $117.3M. The movie earned an A- CinemaScore and sports an 86% Rotten Tomatoes score. 5. PayPal (PYPL), Applied Materials (AMAT), Caterpillar (CAT), Lennar (LEN), Netflix (NFLX) and Palo Alto Networks (PANW) saw positive mentions in Barron's, while Deutsche Bank (DB) was mentioned cautiously.
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