Nokia RELOCATES HQ and 4 Hot Stocks Making the Rounds
Medtronic, Inc. (NYSE:MDT): The regulator of The Federal Drug Administration wrote a warning letter to Medtronic, Inc., which was posted on their website. It concerned the firm’s response to the findings in an investigation which, according to the FDA, were not adequate. The FDA has requested a meeting with the company to discuss the scope and timing of their actions. Shares of Medtronic, Inc. are trading at 0.27% lower today.
Don’t Miss: Is Apple’s New iPhone UNBREAKABLE?
Aetna Inc. (NYSE:AET): According to the Wall Street Journal, as Aetna Inc. (NYSE:AET) moves to takeover Coventry Health Care (NYSE:CVH), analysts anticipate that Wellpoint (NYSE:WLP) will not buy Amerigroup (NYSE:AGP) and Cigna (NYSE:CI) will not buy HealthSpring (NYSE:HS); this will put an end to a possible consolidation rally. Shares of Aetna Inc. are trading at 0.60% lower today.
Qihoo 360 Technology Co Ltd (NYSE:QIHU): After Google bowed out of the Chinese search market in 2010, they left a ripe opportunity for another company to take the second place spot behind Baidu. Qihoo 360 Technology Co. Ltd.’s newly launched search service has risen to the challenge, according to Sina Tech. Qihoo actually flipped the switch on their search engine and web browser, last Thursday, but only began setting their service as the default search on their Hao.360.cn portal, early this week. Shares of Qihoo 360 Technology Co Ltd are trading at 7.87% higher today.
Nokia (NYSE:NOK): Finland’s Nokia Corp. (NYSE:NOK) will relocate their Central European headquarters to Budapest from Vienna, Austrian daily Die Presse reported Monday, citing a spokeswoman for Nokia Austria. The Austrian headquarters employs 60 people, some of whom will be employed in Budapest. The relocation comes as the company seeks to streamline their operations and return to profit after a string of losses amid falling shares in the mobile phone market. Nokia has been cutting headcount, globally, since 2011, with the aim of eliminating 17,000 jobs. They have already laid off 2,300 of 4,400 staff at their Hungarian plant.
Bank of America Corporation (NYSE:BAC): According to the Wall Street Journal, as a result of a new law, some lawyers believe that banks could publish research on Independent Public Offerings, the day of an IPO, or even before the contract is completed. They will no longer have to wait 40 days after the deal is made. However, about 20 companies covered by the Jumpstart Our Business Startups, or JOBS Act, which applies to corporations with less than $1 billion in annual revenue, have seen research published 25 days after their offerings. The choice of a 25 day “quiet period,” after an IPO, isn’t a coincidence, but the result of an informal agreement reached by large Wall Street banks who are fearful of potential legal actions arising from the JOBS Act. Shares of Bank of America Corporation are trading at 0.92% higher today.
Don’t Miss: Is AT&T Breaking These RULES?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.