Bank of America Corp (NYSE:BAC): According to Reuters, the Gibbs & Bruns Law Firm, who reached a major settlement with Bank of America Corp. over allegedly defective mortgage bonds, said that Wells Fargo (NYSE:WFC) and Morgan Stanley (NYSE:MS) failed to perform their duties that included servicing $73 billion in securities.
Sprint Nextel Corporation (NYSE:S): According to FierceWireless, who cited comments made at the Goldman Sachs Communacopia Conference, Sprint Nextel Corporation’s Chief Executive Officer, Dan Hesse said that the company has sold one million LTE devices so far. He stated that Samsung’s (SSNLF) Galaxy S III and HTC’s EVo 4G represent the bulk of their 4G sales.
Microsoft Corporation (NASDAQ:MSFT): Microsoft Corporation stated that they have fixed a security bug in Internet Explorer which was used by hackers to attack some customers. The attacks prompted the German government and security experts to urge people to temporarily stop using the browser.
Cisco (NYSE:CSCO): Cisco Systems, will no longer develop their ACE load-balancer technology, apparently ceding the market to rivals such as F5 Networks and Citrix Systems. Consequently, sales people were told to stop promoting the Application Control Engine (NYSE:ACE) 30 load-balancer module for new deployments. The networking giant will, however, continue to sell and service the product for existing customers.
American International Group, Inc. (NYSE:AIG): The international insurer American International Group, Inc. has announced that the United States Department of the Treasury has completed an offering of approximately 636.9 million shares of AIG common stock at a par value of $2.50 per share.
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