Here’s Why GE and Sprint Were Green in a Choppy Trading Day
General Electric Company (NYSE:GE): The Economic Times reports, GE India plans to construct R&D labs as well as expand its technology center located in Bangalore by investing over Rs 300 crore.
Sprint Nextel Corporation (NYSE:S): According to NFC Times, Sprint expects to launch its mobile wallet as soon as early summer. This will create competition to Google’s (NASDAQ:GOOG) mobile wallet initiative.
Morgan Stanley (NYSE:MS): Though Tier 1 has the highest common ratio among the top five investment banks in the U.S., Bloomberg reports that Morgan Stanley still faces its largest possible downgrade from Moody’s Investors Service. The Wall Street Journal states that though the Morgan Stanley has received interest in its commodities business from many private-equity firms, sources claim the firm is not interested in selling any minority stakes or the actual unit. On the other hand, CNBC reported that the firm has spoken with potential suitors such as Blackstone (NYSE:BX) about selling a minority stake in the unit.
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Halliburton Company (NYSE:HAL): Estimates about Haliburton’s sales and revenue drop slightly due to the company’s warning about rising guar gum costs, but HAL remains one of its top oilfield services picks the company says. Anticipated earnings in 2012, 2013 and years to come near their prior cycle valuation on a price-to-tangible book value making Halliburton shares attractive.
JPMorgan Chase & Co. (NYSE:JPM): JPMorgan’s top media sector banker Harry Hampson will take over Karen Simon’s position as head of the bank’s Financial Sponsor’s Group, according to a memo cited by Reuters. Since 2002, Hampson had headed JPMorgan’s Europe, Middle East and Africa technology, and media and telecoms team.
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