Facebook takes STAKE in South Asian Undersea Cable and 4 Hot Stocks Driving the Market Now

Bank of America (NYSE:BAC): Shares of the major banks fell Thursday as concerns regarding the London interbank offered rate (LIBOR) scandal spread. “The two-year investigation into banks rigging Libor, which has taken a toll on Barclays, has the potential to hurt Citigroup, JPMorgan and Bank of America,” Mike Mayo, an analyst at CLSA Ltd., wrote in a recent research note. Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Bank of America Corp. BAC -0.83% and Citigroup Inc. C -1.05%.

Shares of Bank of America are trading 2.05% lower today.

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Apple Inc. (NASDAQ:AAPL): Apple (NASDAQ:AAPL) said an error in the code that prevents apps from being stolen was responsible for a number of malfunctioning app updates in the past day, solving a mystery that has troubled developers for the past 24 hours, reports the Wall Street Journal.

Shares of Apple Inc. are trading 1.10% lower today.

Facebook, Inc. (NASDAQ:FB): Facebook has taken a stake in a US$450 million project to link South Asian countries with an undersea cable, a company spokeswoman said Friday. The project is expected to be ready some time in 2014.

Shares of Facebook, Inc. are trading 0.03% lower today.

AT&T, Inc. (NYSE:T): The Samsung Galaxy S3 has finally arrived in AT&T stores, although store managers are warning customers about limited availability. The Times Square and Penn Station AT&T stores in New York are allowing customers to call to reserve their phones for same-day pick-up. Other stores are reporting limited stock. The initial release date for the Galaxy S3 was June 21 on AT&T, but the carrier has faced an epic backlog on orders due to high demand for the phone.

Shares of AT&T, Inc. are trading 0.34% higher today.

Nokia Corporation (NYSE:NOK): Nokia released its new, cheaper smartphone, the Nokia Lumia 610, using Microsoft’s Windows Phone OS in India, in an attempt to thwart increasing competition from competitively priced Android-powered phones.

Shares of Nokia Corporation are trading 4.95% lower today.

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