Bank of America (NYSE:BAC): In pre-market trading on the NYSE, the three most active funds and stocks were Alcoa (NYSE:AA), Bank of America (NYSE:BAC), and SPDR S&P 500 ETF (NYSEARCA:SPY) as of 9:10 a.m. Investors exchanged 1.14 million shares of Bank of America, which saw a rise of $0.07, or 2.61 percent. Bank of America hired Loh Boon Chye as the leader of its global markets in the Asia-Pacific region. Previously, Loh worked for Deutsche Bank AG.
Apple Inc. (NASDAQ:AAPL): The iPhone 5 supply shortfall has been worsened as a result of a quality-control crackdown at Foxconn Technology Group used to reduce the amount of devices that are shipped with nicks and scratches, according to sources. Many customers complained about scrapes on the device during the iPhone’s debut last month, and this was a result of Apple’s decision to use a type of aluminum helping to make the smartphone thinner and lighter, according to Bloomberg.
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AT&T, Inc. (NYSE:T) and IBM have teamed together to offer a service enabling customers to access Big Blue’s back-end infrastructure over the telecom giant’s secure private lines. “It’s an integrated, end-to-end solution that provides access to cloud computing resources, and a secure pipe over which to access them,” stated Dennis Quan, IBM’s VP for SmartCloud Infrastructure, in an interview. “It’s going to unleash a lot of pent up demand for cloud computing because we’ve made the consumption of cloud a lot simpler.” IBM and AT&T have intentions to formally launch the service, directed toward IBM’s Fortune 1,000 enterprise customer base, during Q1 of 2013.
Nokia Corporation (NYSE:NOK) hopes it will be able to take advantage of Apple’s (NASDAQ:AAPL) iPhone 5 navigation issues by marketing the reliability of its own digital maps that it has spent billions crafting, Bloomberg reports.
Goldman Sachs (NYSE:GS) has been lobbying regulators for the exemption of investment vehicles known as credit funds from the “Volcker rule” in a bid intended to keep the firm’s lucrative merchant-banking unit. In the case of failure, Goldman has a plan B as a few of the firm’s executives think that they have discovered a means to extricate the credit funds from proposed limits regarding the amount that can be invested in hedge funds and private-equity funds, sources say, according to the the Wall Street Journal.
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