Bank of America, Sirius, Pfizer, Sprint Generate High Trading Demand Feb. 9th
Bank of America Corp (NYSE:BAC): A mortgage servicing subsidiary of Bank of America agreed to settle Federal Trade Commission charges that it illegally assessed more than $36M worth of fees against homeowners, in violation of an earlier settlement with the FTC. Bank of America subsidiary BAC Home Loans Servicing has already reversed or refunded $28M worth of improper fees for title and other default-related services charged to homeowners behind on their mortgages. The new settlement requires BAC Home Loans to reverse or refund the remaining $8M in improper fees, the FTC said.
Sirius XM Radio Inc. (NASDAQ:SIRI): Sees FY12 free cash flow approximately $700M. The Company expects its subscriber base to grow by approximately 1.3 million net subscribers and end the year at approximately 23.2 million. The company now expects adjusted EBITDA in 2012 of approximately $875M, an increase from prior guidance of $860M.
Pfizer Inc. (NYSE:PFE): Nestle (NSRGY) emerged as the leader to buy Pfizer’s (NYSE:PFE) $10B Wyeth infant nutrition business as it battles Danone (DANOY), reports Reuters. Mead Johnson (NYSE:MJN) and Heinz (NYSE:HNZ) are also involved in the second round, it was reported yesterday.
Sprint Nextel Corporation (NYSE:S): The company expects 2012 Adjusted OIBDA to be $3.7B-$3.9B. Within that Adjusted OIBDA expectation, Sprint anticipates full year consolidated net service revenue growth of 4%-6%. Sprint expects full year capital expenditures of approximately $6B in 2012, excluding capitalized interest.
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