Stock Catalyst Cheat Sheet: BofA, AT&T, Morgan Stanley, Corning
Bank of America Corporation (NYSE:BAC): No delay is in store for the approval process for a contentious $20M settlement between Bank of America Corp. directors and shareholders who claim the bank payed too much for Merrill Lynch & Co., thanks to a ruling by U.S. District Judge Kevin Castel, reports Reuters. Bank of America Corp. shares are trading 1.5% higher.
AT&T (NYSE:T): As part of the Tactical Communications Equipment and Services (TacCom) contract overseen by the U.S. Department of Homeland Security, AT&T Government Solutions will be a prime vendor. this is a multiple award, Infinite Delivery Indefinite Quantity contract with a comprehensive value of $3B and a starting contract period of two years and three, one-year options. AT&T shares are today trading 0.51% lower.
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Morgan Stanley (NYSE:MS) is not likely to speed up its buyout of the Morgan Stanley Smith Barney joint venture with Citigroup (NYSE:C) thanks to recent market inconsistencies, falling stock prices and increased regulatory attention, say insiders, according to the Wall Street Journal. These companies haven’t entered discussions regarding the next steps in Morgan Stanley’s eventual takeover, although Morgan can raise its stake to 65% June 1. Shares of the company are trading higher by .49% today.
Corning (NYSE:GLW) held a groundbreaking and grand opening event for Corning Shanghai Co. Ltd., the company’s wholly owned automotive substrate facility in Shanghai. This marked the end of a $125M expansion and the start of a newly announced third capacity build-out. The event attendees included members of the Chinese government, as well as customers and employees. Corning shares are trading flat today.
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