Morgan Stanley Changes Name and 3 Hot Stocks Making Headlines
Morgan Stanley (NYSE:MS) announces the change in name of Morgan Stanley Smith Barney, the business acquired from Citigroup (NYSE:C), to Morgan Stanley Wealth Management. Morgan Stanley agreed on September 11 with Citigroup to assume full control of the business by June 2015, subject to regulatory permissions.
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Nissan (NSANY.OB) announces big plans for India, aiming to double its sales during the current financial year and to boost sales by 10 times within the next four years. Key to the plans would be 10 new models introduced before 2016 and including at least two from the Datsun brand, which has been revived.
The market has not taken kindly to Tesla Motors (NASDAQ:TSLA) announcement that its Model S deliveries will be fewer than estimated, with shares falling over 7 percent in pre-market trades. The company says the slow production along with higher labour costs could adversely affect Q3 margins, though margins in Q4 expect to bounce back into positive territory once model S production reaches targeted volumes.
Staples (NASDAQ:SPLS), office products and Internet retailer, announces a comprehensive new strategy that will better serve customers and accelerate growth. Plans include an ambitious cost savings plan, leadership changes, enhancement of store productivity by reduction in square footage by 15 percent by 2015 and a restructuring of international operations.
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