GE AVOIDS Trial and 3 Monster Stocks at Week’s End
General Electric Company (NYSE:GE): A judge ruled that General Electric Company (NYSE:GE) has not infringed on a Mitsubishi Heavy Industries patent, relating to wind turbine blades, so they will not have to go to trial, according to Bloomberg.
Bank of America Corp (NYSE:BAC): According to Bloomberg, the International Monetary Fund’s Managing Director Christine Lagarde said, ” Based on weakness in investments, jobs and manufacturing in Europe, the U.S., Brazil, India and China, the organization will lower its estimate for global growth this year.” “This is somewhat less than what was anticipated just three months ago,” Lagarde stated. That lower projection will depend on the right policy actions being taken.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA): On June 27th, 2012, the US FDA approved the new diet pill Belviq. According to Reuters, Belviq (Llorcaserin), by Arena Pharmaceuticals, is the first weight-loss drug to be approved in 13 years. In the briefing documents for the May 10th, 2012, FDA Endocrinologic and Metabolic Drugs Advisory Committee, reviewers expressed concerns on safety of the drug, as it may cause heart problems. Hence, the stock is finishing Friday on a cautionary note.
Nokia Corporation (NYSE:NOK): While a number of companies are trying to challenge Apple’s (NASDAQ:AAPL) iPhone, recent visits to AT&T (NYSE:T) stores confirm that despite reduced prices for Blackberries and the launch of Nokia’s Microsoft (NASDAQ:MSFT) powered Lumina smartphone, Research in Motion (NASDAQ:RIMM) , Nokia (NYSE:NOK) and others, the iPhone is still champ.
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