BofA ISSUES Non-Profit Grants and 4 Heavily Traded Shares Moving the Market
Sprint Nextel Corporation (NYSE:S) climbs following the company’s regulatory filing yesterday afternoon in which it revealed that Keith Cowan, the company’s President, Strategic Planning and Initiatives, would no longer serve his post, effective September 30. Cowan is Sprint’s top mergers and acquisitions executive, reports The Wall Street Journal. Cowan’s departure leads to speculation on the Street that Sprint could attempt to either merge with or acquire Deutsche Telekom’s (DTEGY) T-Mobile unit. In February, Sprint CEO Dan Hesse mentioned that the failure of the proposed merger between AT&T (NYSE:T) and T-Mobile made T-Mobile’s spectrum available for Sprint. Also, the failure of the AT&T deal has made “many more options for Sprint,” Hesse added. In mid-morning trading, Sprint jumped 21c, or 4.66%, to $4.82.
Don’t Miss: Here’s Why the iPhone Remains KING.
Sirius XM Radio Inc (NASDAQ:SIRI) has done great the past few days. Not only did shares have usual appreciation into the earnings call on August 7th, but after the excellent call where Sirius XM met or beat street expectations, Sirius XM has risen 27 cents in only two days to close at $2.47.
Bank of America Corp (NYSE:BAC) provided $125,000 in grants to eight Sacramento area housing-related nonprofits as part of a recent national distribution of over $22 million. The nonprofits build and rehab affordable housing, offer foreclosure-prevention services and homeowner counseling, along with performing other housing-related services.
Cisco Systems, Inc. (NASDAQ:CSCO): NDS, now part of Cisco, and Canal Digital, the leading DTH pay-TV provider in the Nordics, used today to announce that they have been collaborating to launch a next-generation TV platform as a hosted, managed service. This will allow both satellite and Over-the-Top, or OTT, service delivery, the new platform should allow Canal Digital subscribers access content at anytime, anywhere, and on multiple devices whether at home or out and about.
Nokia Corporation (NYSE:NOK): Vringo (AMEX:VRNG) entered into subscription agreements to sell 9.6 million shares of its common stock in a registered direct offering at a price of $3.25 per share, for a total of about $31.2 million. Approximately 90 percent of the shares involved in the offering were placed with three institutional investors. The shares were offered directly to investors with no placement agent or underwriter. The sale and issuance of the shares is predicted to close on or about August 10, 2012. Vringo plans to use the proceeds of the offering for the acquisition of a portfolio of intellectual property from Nokia (NYSE:NOK), to repay all outstanding debt, and for general corporate purposes.
Don’t Miss: Here’s Nokia’s New REVIVAL Plan.
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