Wells Fargo & Company (NYSE:WFC): The “junk” bond boom has created concern with a few large money managers, warning that the market has signs of overheating, according to the Wall Street Journal. In the past year, investors put a record $34B into junk-bond mutual funds through September. Because of this, weaker companies now have the ability to sell bonds, and the credit ratings of a great deal of borrowers are lower and debt levels are higher, making defaults more probable. As yields close in on record lows, the managers say, investors will not be compensated for that risk.
Bank of America (NYSE:BAC): U.S. stocks saw a quick rise, with the Standard & Poor’s 500 Index reaching its first weekly gain in three, as a surprise drop in the American unemployment rate created confidence in the world’s largest economy. Bank of America Corp. and Citigroup Inc. saw a boost of at least 1.3 percent to lead advances among financial shares.
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Apple Inc. (NASDAQ:AAPL): A year after following Steve Jobs’s passing, Apple has released a sentimental tribute to the former CEO. Job passed away on Oct. 5, 2011, after a lengthy battle with cancer. Jobs fought the cancer in 2004 and had a liver transplant during 2009 after he took leave of absence due to undisclosed health issues.
Facebook, Inc. (NASDAQ:FB) is looking toward Russia and has begun trying to draft geeks to build apps for the company’s home market. The company is attempting to win over users as it competes with local rivals like VKontakte and Odnoklassniki, which together attract 10 times more traffic, according to Bloomberg. There are 3.5 million daily Facebook users versus VKontakte’s 22 million users and Odnoklassniki’s 16 million, according to data by TNS Global. During the week, CEO Mark Zuckerberg hosted nearly 200 developers in Moscow as he attempts to create apps meant to get people to sign up and log in daily.
AT&T, Inc. (NYSE:T) announced that its growing 4G LTE smartphone portfolio, and it will introduce three new devices from HTC® – the HTC One™ X+, HTC One VX, and the Windows® Phone 8X by HTC. Powered by the nation’s largest 4G network, All three HTC devices have the ability to access the AT&T 4G LTE network, and they have enhanced audio and video features, which makes it easier and faster for customers to be both connected and entertained.