Bank of America, Sprint Nextel, Cisco, Nokia Attract High Trading Volume Feb. 7th

Bank of America Corp (NYSE:BAC): In Manhattan, U.S. District Judge Kevin Castel ruled that Bank of America Corp. investors can proceed as a class action in their lawsuit claiming the company misled shareholders about the acquisition of Merrill Lynch & Co., reports Bloomberg.

Sprint Nextel Corporation (NYSE:S): Sprint is partnering with Orange Business Services to provide Sprint with global machine-to-machine connectivity outside the U.S., the companies announced today. Through this agreement, Sprint will expand its M2M reach to include Sprint-branded global M2M connectivity to 180 countries. ABI Research forecasts that there will be more than 106M M2M connections globally, excluding the U.S., in 2012, growing to over 272M M2M connections in 2016. Given this expected growth, the agreement enables Sprint to expand the reach of its business customers’ machines and basic operations beyond the United States in segments such as automotive and telematics, smart grid and metering, healthcare, retail point-of-sale and security.

Cisco Systems, Inc. (NASDAQ:CSCO): Cisco is warning customers that some models of its blade servers could “overheat and emit a short flash”. Cisco does not disclose how many units or how many customers are at risk.

Nokia Corporation (NYSE:NOK): Vendors shipped 158.5M smartphones in Q4 and 488M for all of 2011, significantly outpacing worldwide client PC shipments, which reached 414.6M for the year, according to Digitimes.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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