Nokia Depletes Cash Reserves and 4 Hot Stocks Burning Up the Market Today
Bank of America (NYSE:BAC): According to the Wall Street Journal, Bank of America (NYSE:BAC) Merrill Lynch lost $10 million that was tied to stock options. This renewed the debate about an options trading strategy that has been the source of controversy. The loss was a result of the bank’s failure to properly execute a so called dividend trade and highlights the risks involved. Some option watchers and exchanges have argued that the dividend trades inflate market volume while providing little benefit to the industry.
Facebook, Inc. (NASDAQ:FB): The declining share prices of Facebook, Inc., Zynga (NASDAQ:ZNGA) and Groupon (NASDAQ:GRPN) are causing some investors to pull back from Web start-ups. Venture capitalists are now asking tougher questions about their revenue and profits. As a result, some entrepreneurs are finding that it is taking longer to raise cash, and some are resetting their expectations over valuations.
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AT&T, Inc. (NYSE:T): According to Technology Review, AT&T, Inc. said that they are working on a service that will automatically translate text messages that are written in different languages. The service is network-based which means it would not require users to install special software on their phones.
Nokia Corporation (NYSE:NOK): According to Bloomberg, during their prolonged turn around effort, Nokia Corporation is depleting their cash while consuming about $300 million a month. Investors are bracing for something that hasn’t happened in decades, no dividends.
Rayonier, Inc. (NYSE:RYN): Rayonier Inc.‘s shares fell 1.67% and closed at $48.77 in yesterday’s session. The 52 week trading range for the company is $34.68 – $51.87. Their shares climbed 29% in the last one year.
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