Facebook to POW-WOW With Walmart and Hot Stocks Igniting the Market
Bank of America (NYSE:BAC): According to The Financial Times, the United Kingdom’s Financial Services Authority is set to expand its London Inter-bank Offered Rate (Libor), rigging investigation, following reports of more institutions possibly being implicated. Until now, Libor has only focused on seven financial institutions. Shares of Bank of America are trading at 2.07% lower today.
Apple Inc. (NASDAQ:AAPL): Ahead of a patent trial, scheduled to begin July 30, Apple and Samsung received victories as well as defeats this week in court. Samsung Electronics (SSNLF) confirmed that in the next few weeks, they plan to launch their digital music service, Music Hug, in the U.S. However, they declined to disclose the pricing or launch date for the stateside debut. . Samsung is expected to compete with Pandora (NYSE:P), Spotify and others, reported The Los Angeles Times. Shares of Apple Inc. are trading at 1.11% lower today.
Facebook, Inc. (NASDAQ:FB): Mark Zuckerberg, Facebook, Inc.’s Chief Executive, is about to add the biggest retail players to his list of friends. He and his senior management team spent two days at Wal-Mart Store’s Bentonville, Arkansas, home office, and met with executives of the world’s largest retailer, to discuss ways to “deepen” their relationship. Shares of Facebook, in care, trading are unchanged today.
AT&T, Inc. (NYSE:T): With Verizon’s (NYSE:VZ), stocks, up 22%, and AT&T’s (NYSE:T), up 19.5%, they both have traded, almost in lockstep, over the past year. AT&T said they would spend $9B to buy back nearly 5% of outstanding shares, as opposed to Verizon who has not been actively purchasing stocks. AT&T could have the edge going forward, as their dividends are expected to continue growing. In addition to seeing their wireless base grow to 103.9M, during the last quarter, they also saw a growth of tablet sales, which increased their consumer’s desire for data. So, while their stock is unlikely to skyrocket, Barron’s contends that investors, looking for a defensive dividend play, should take note of AT&T. Verizon Wireless also said that it added 1.2M subscribers in the second quarter, for a total of 94.2M. Shares of AT&T, Inc. are trading at 0.56% lower today.
Nokia Corporation (NYSE:NOK): Fitch downgraded Nokia’s Long-term Issuer Default Rating and senior unsecured rating from “BB+ to ‘BB-“. The Outlook on the Long-term IDR, is Negative. Fitch stated that Nokia will receive a negative rating action, if they are unable to show a stabilization in their revenue declines, or generate a positive, single digit operating margin, in their Devices and Services Division. According to the rating agency, the release of Nokia’s second quarter results indicate that the company is currently not near this position. Shares of Nokia Corporation are trading at 8.65% lower today.
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