Bank of America (NYSE:BAC): As a way to prove that Bank of America (NYSE:BAC) has actually turned a corner in its revival, CEO Brian Moynihan should thank Warren Buffett again for purchasing $5 billion worth of preferred stock during 2011 when the bank found itself on a rocky road, and buy it back, claims the Wall Street Journal’s “Heard on the Street.” For shareholders, buying back the preferred would cause a savings totaling $300 million a year, even if Bank of America pays $250 million to get there. It will also help clean up the bank’s balance sheet.
Apple Inc. (NASDAQ:AAPL) A6 X processor production has gone to TSMC (NYSE:TSM) from Samsung (SSNLF), according to 9to5Mac. A report from Taiwan-based Commercial Times claims that this move is intended to assist in lowering Apple’s reliance on Samsung and the production under TSMC is to begin trial production in Q1.
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Facebook, Inc. (NASDAQ:FB) shares have seen a huge boost today as the overall market after two analysts released upbeat notes regarding the company. JP Morgan analyst Doug Anmuth has stated that he believe that the social network’s ad revenue will accelerate at least through the current quarter. He also raised his estimates for the company’s 2013 and 2014 ad revenue by 6 to 7 percent. The analyst adds that most companies have been pleased with the results they’ve seen from Facebook ads, and he also stated that Wal-Mart (NYSE:WMT) seems to have seen a large increase in its spending on the platform. Anumth also raised his estimates for Facebook along with his price target on the shares to $35 from $29, as he decided to keep his Overweight rating on the stock. William Blair analyst Ralph Schackart is also positive on the stock. Facebook Exchange is a new ad product that lets advertisers target users based on browsing histories, and it is likely to be beneficial to the company’s business over the long term, according to Schackart. After he met with ad agencies and marketers, Schackart continues to be convinced that Facebook ad prices may see a 300 percent increase. The analyst keeps his Outperform rating on the stock. Facebook saw a $1.05, or 3.95 percent, increase to $27.67 in early trading.
AT&T, Inc. (NYSE:T) has become industry leader in sustainability, according to the company’s executives. Due to the Use of plant-based plastic, the selling of energy-efficient mobile phone chargers, and the reduction of packaging material, nearly 500 tons of paper and plastic waste has been cut out of AT&T Mobility’s products during 2010 and 2011. The company is not the only one who uses sustainable product, as Verizon brags about “green” stores, and Sprint gained accolades for being an environmental leader.
Nokia Corporation (NYSE:NOK) users who were willing to try untamed firmware releases through Nokia’s online repository may face some troubles. Navifirm inadvertently offered a number of early looks at Nokia hardware updates, and the firm claims it will shutter open access to its firmware repository by the month’s end. In February, the system will start to require a “Nokia Online” login to gain access to application and device software downloads. The brief announcement has not revealed if this possibly involves a standard Nokia account or something else, but it could entail fewer previews, along with a longer wait for subsequent (and official) Lumia updates.