High Volume Stocks: Bank of America, Alcatel-Lucent, Cisco, Sirius Feb. 10th
Bank of America Corp (NYSE:BAC): Massachusetts regulators said that they were subpoenaing Bank of America Securities (NYSE:BAC) to investigate if the lender knowingly overvalued assets, after investors lost about $150M in investments involving collateralized loan obligations, reported Reuters. Following the $25B settlement with federal and state governments over the investigation of abusive foreclosure practices, U.S banks still face years of litigation and billions of dollars in liabilities tied to the housing collapse because government officials can pursue claims related to the packaging of loans into securities, criminal-enforcement actions and fair-lending violations, Attorney General Holder said, reports Bloomberg.
Alcatel-Lucent (NYSE:ALU): Alcatel-Lucent (NYSE:ALU) announced that it will offer access to its worldwide portfolio, which includes approximately 29,000 issued patents, through a licensing syndicate to be formed by RPX Corporation (NASDAQ:RPXC). Alcatel-Lucent’s worldwide patent portfolio is relevant to a broad range of technologies, including fixed line and wireless communications, semiconductors, consumer electronics, multimedia, optical, software, cloud computing, applications and network security. We have chosen to undertake an innovative approach to realizing the value of our world-class patent portfolio, and while retaining ownership of our patents, we seek to expand access to them for a diverse set of industries,” Alcatel-Lucent’s CEO said.
Cisco Systems, Inc. (NASDAQ:CSCO): Global tablet sales, which hit 67M in 2011, could grow to 248.6M by 2015, with smartphones projected to hit 1B during the same period, according to BGR.
Sirius XM Radio Inc (NASDAQ:SIRI): Sirius XM downgraded to Hold from Buy at Gabelli. Gabelli downgraded Sirius XM citing valution.
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