High Volume Stocks: Ford Motor, America Movil, Micron Tech, Dendreon, Intel May 8th
Ford Motor Company (NYSE:F): Ford’s China vehicle sales rose 24% in April due to its Ford Focus demand, reports Detroit News. The company said the Focus was “well-received” and is the first of 15 new vehicles it will bring to the country by 2015.
America Movil SAB de CV (NYSE:AMX): Mexico-based telecom company America Movil (NYSE:AMX) earlier this morning announced that it would seek to raise its stake in Dutch telecom company KPN (KKPNY) to up to 28%, from its current stake of about 4.8%. The Mexican company offered to pay EUR8 per share, representing a premium of about 23.5% over KPN’s stock price as of the close of business yesterday. However, KPN responded that America Movil’s EUR8 per share bid “substantially undervalues” KPN. The Dutch company nevertheless added that it would “carefully review” the offer, but also said that it would explore all strategic options.
Micron Technology, Inc. (NASDAQ:MU): The Hybrid Memory Cube Consortium, led by Micron Technology (NASDAQ:MU) and Samsung Electronics (SSNLF), announced that Microsoft (NASDAQ:MSFT) has joined the consortium. The HMCC is a collaboration of original equipment manufacturers, enablers and integrators who are cooperating to develop and implement an open interface standard for an innovative new memory technology called the Hybrid Memory Cube.
Dendreon Corporation (NASDAQ:DNDN): Leerink downgraded Dendreon following the company’s Q1 results citing the modest growth of Provenge and competitive concerns.
Intel Corporation (NASDAQ:INTC): Intel Corporation yesterday announced that its board of directors has approved a 7% increase in the quarterly cash dividend to 22.5c per share — 90c per share on an annual basis — beginning with the dividend that will be declared in the third quarter of 2012.
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