Ford and Nokia Lead These Heavily Traded Stocks
As the DJIA (NYSEARCA:DIA) breaks out to 12,500 and the new year rings, some of the most actively traded stocks in the market are flooded with big news. Top tech companies are making their strategic plays at the Consumer Electronic Show, while banks and auto makers are dealing with their own business decisions as the economy shows some signs of life. Here’s what these top companies are doing now:
Ford Forges Ahead
Ford Motor Company (NYSE:F) sells its 4 millionth “SYNC-ed” car, just a year after passing the 3 million mark. Ford SYNC, the auto industry’s leading in-vehicle communications system powered by Microsoft (NASDAQ:MSFT) goes global this year, with predictions to grab 9 million more customers in the next three years. Ford and GM (NYSE:GM) both saw record sales in China last year as a direct result of their Japanese competition knocked out by the Thai floods and earthquake, according to Bloomberg. GM sales surged 8.3% while Ford numbers were up 7%.
Nokia’s New Smartphone
Nokia Corporation (NYSE:NOK) teamed up with Microsoft (NASDAQ:MSFT) to debut the Nokia Lumia 900 at the Consumer Electronics Show (CES) in Las Vegas. The latest Nokia smartphone to be cold exclusively by AT&T features high-speed LTE connectivity and a large display screen. CEO Steve Ballmer has high hopes for the Lumia 900, expecting it to compete with the iPhone (NASDAQ:MSFT) in the U.S.
Cisco Offers Same Look on Any Screen
New technology revealed at CES from Cisco Systems, Inc. (NASDAQ:CSCO) offers users a consistent look and feel across all devices. From computers and tablets to iPhones (NASDAQ:AAPL) and Androids (NASDAQ:GOOG), service providers can produce “video in the cloud” content that looks the same on any screen.
SEC Keeps a Firm Grip on U.S. Financial Firms
In light of the European debt crisis, the SEC is asking the larger financial firms such as Citigroup Inc. (NYSE:C), Bank of America (NYSE:BAC), J.P. Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) to be more mindful in disclosing their European exposure, according to the Wall Street Journal. Consumer borrowing up over the holidays could suggest a new phase of household reduction that’s held back the economy.
Sprint Balances Apple
To improve efficiency because of its investments in network and Apple’s (NASDAQ:AAPL) iPhone, Sprint Nextel Corporation’s (NYSE:S) slated reorganization will necessitate the departure of four executives, according to a Reuters report; this from an internal memo from the CEO. Sprint Nextel CEO Dan Hesse commented that data use of 1% of its customers is limited. Sprint executive then explained that Hesse was only referring to prepaid customers at its Boost Mobil and Virgin Mobile units, according to CNET.