Heaviest Traded Stock Movers Jan 30th: GE, Citigroup, Microsoft, Nokia

General Electric Company (NYSE:GE): GE Oil & Gas announced new projects worldwide totaling nearly $1.3B in equipment and service contracts. Under contracts totaling nearly $1B, GE will supply a wide range of equipment and services for the Ichthys LNG project in Western Australia, being developed by INPEX Corporation and Total. GE subsea production equipment, control systems and services have been selected for the Nexen Golden Eagle Area Development project in the United Kingdom’s central North Sea. GE Oil & Gas will supply associated gas utilization technology for TNK-BP’s Verkhnechonsk oil and gas field in Eastern Siberia. GE has been selected to provide key equipment for a floating oil production, storage and offloading platform being built to develop the Guar Norte section of the Tupi oilfield in Brazil’s Santos oil basin.

Citigroup Inc. (NYSE:C): This morning, Goldman upgraded Citigroup (NYSE:C) citing relative earnings power vs. Bank of America (NYSE:BAC), which was downgraded to Neutral from Buy, and expectations for increased capital returns. Citigroup price target raised to $36 from $35. Eric Coutts, Citigroup’s (NYSE:C) head of banking for France, has left “by mutual agreement” after nearly five years with the company, Reuters reports. Sources say Coutts is likely to be replaced by Charles-Henri Filippi, who is already country chairman.

Microsoft Corporation (NASDAQ:MSFT): Return Path announced it is a founding member of DMARC.org, a technical working group dedicated to the development of internet standards for reducing the threat of deceptive emails known as phishing. DMARC has outlined a new vision for email authentication and published a draft specification that resolves the issues associated with widespread adoption of email authentication technologies. Leading internet service providers, including Google (NASDAQ:GOOG), Yahoo! (NASDAQ:YHOO), AOL (NYSE:AOL) and Microsoft (NASDAQ:MSFT), are founding members of DMARC. Return Path’s anti-phishing solution Domain Assurance supports the DMARC specifications today, enabling companies to quickly and easily implement DMARC.

Nokia Corporation (NYSE:NOK): On Friday, Nokia (NYSE:NOK) sold its media advertising business to U.S. start up Matchbin with out providing details, reports Reuters.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com