Bank of America Corp (NYSE:BAC): Bank of America Corporation announced that they will submit redemption notices to the property trustee which will result in the redemption of all of the trust preferred securities of each such trust. The redemption date for the Floating Rate Preferred Securities issued by Progress Capital Trust III is November 15, 2012. The redemption date for all other trust preferred securities is November 5, 2012.
Hewlett-Packard Company (NYSE:HPQ): Chief Executive Officer Meg Whitman’s strategy for turning Hewlett-Packard Company around failed to convince investors who were looking for speedier recovery and more sweeping change. Meeting with analysts a year after taking over, she outlined steps that include more focus on corporate customers, narrower product lines and multi- featured machines such as printers that double as scanners and copiers. She also said that a turn around would not happen any time soon and projected a 2013 profit that missed analysts’ estimates. HP has been struggling in everything from personal computers to technology services. Their shares closed yesterday at a ten year low.
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Sprint Nextel Corporation (NYSE:S): According to the Wall Street Journal, Sprint Nextel Corporation’s Chief Executive Officer Dan Hesse said that deals were coming in the wireless industry and that Sprint would be a part of it. However, with Deutsche Telekom’s (DTEGY) announced merger of their U.S. subsidiary, T-Mobile USA, with MetroPCS Communications (NYSE:PCS), Sprint was outmaneuvered, raising questions about whether they had lost a chance to increase their scale to better compete against AT&T (NYSE:T) and Verizon Wireless (VZ,VOD).
MetroPCS Communications Inc (NYSE:PCS): According to the Bloomberg News report, MetroPCS Communications Inc.’s shares rebounded as much as 17% from their low today and,after triggering a stock exchange circuit breaker, they were temporarily halted. The firm was down 2% at $11.99. Sprint initially reversed losses before falling 4% to $4.99.
Intel Corporation (NASDAQ:INTC): Intel Corporation’s Chief Executive and San Francisco, CA native Paul Otellini is not happy about the direction his home state is moving in and worries that it could end up like Greece. Speaking on stage this week at the Intel Capital Global Summit in Huntington Beach, Calif., an annual gathering for executives of companies that Intel has invested in, Otellini was responding to a question from former California Republican Congressman Tom Campbell about whether he was “bullish” on California.
Don’t Miss: Will HP Ever Find Its Footing Under Whitman?