Nokia SELLS Apps Unit to Digia and 4 Hot Stocks Trading Today
Nokia (NYSE:NOK): Nokia has abandoned their homegrown software efforts and has agreed to sell their Qt app-tools unit to Digia Oyj (DIG1V). The company bought the Qt technology in 2008 to give developers tools to write applications for Symbian and MeeGo devices, these two operating systems were cast aside in favor of Microsoft’s Windows Phone. According to a statement from the Finnish software firm, as many as 125 employees will move to Digia as part of the deal. No terms have been disclosed.
Investing Insights: Cisco Earnings on the Horizon.
Bank of America Corporation (NYSE:BAC): Bank of America Corporation announced that they have agreed to sell their international wealth management businesses, based outside of the United States, for an estimated 1.2% of client assets, to Julius Baer Group, the leading Swiss private banking organization. Payment received will be comprised of up to $250 million in new Julius Baer shares, and the remainder in cash. The transaction, expected to close in stages, is subject to regulatory approval. Internationally, Bank of America will focus their management and financial resources by continuing to build their leading Global Banking and Markets business. Related to this, Julius Baer and Bank of America, Merrill Lynch, have agreed to enter into an agreement whereby Bank of America, Merrill Lynch will provide certain products and services to Julius Baer, including the provision for global equity research, product offerings, as well as structured and advisory products. The final purchase price will depend on assets under management at the completion of the sale. Shares of Bank of America Corporation are trading at 0.45% higher today.
Alexandria Real Estate Equities Inc. (NYSE:ARE): Alexandria Real Estate Equities of California has reduced their option to develop their site on the southeastern outskirts of Edinburgh from 924,000 square feet to 636,000 square feet. Coming after Alexandria’s decision to suspend their commitment to the park due to the economic crisis, this appears to further undermine former Scottish Enterprise chief executive Jack Perry’s vision for a £250 million development creating 6500 high-end jobs. The Sunday Herald understands that after Alexandria’s suspension decision, some of the land covered by Alexandria’s option was re-allocated to the so called bio-incubator consisting of a £24 million office block for life science firms that are funded by Scottish Enterprise and the UK Government. The remainder was taken up by NHS Lothian for a parking lot to be used by Sick Children’s Hospital which will be built in 2015. Shares of Alexandria Real Estate Equities Inc. are trading at 0.44% higher today.
Toyota Motor Corporation (NYSE:TM): The Washington Post reported that Japanese companies are complaining about severe restrictions on their use of electricity. This is hurting their productivity and profits. Shares of Toyota Motor Corporation are trading at 0.63% lower today.
GMAC LLC (NYSE:GOM): “GMAC LLC Mortgage is committed to preserving home ownership whenever possible,” said Dana Dillard, the company’s Senior Vice President. “In that spirit, we’re proud to support this initiative with Hope LoanPort, which will provide useful tools and education for borrowers.” Homeowner Connect was created in response to the National Mortgage Settlement, that called for a consumer-centric web portal. Additionally, Homeowner Connect aligns with requirements found in the OCC Consent Orders, the joint-GSE Servicing Alignment Initiative, as well as many new state policies symbolized by the recent passage of the California Borrowers’ Bill of Rights. After the initial roll out to GMAC customers, HLP will be actively working with other mortgage services who are with Homeowner Connect. Participation is open to both servicers already using the HLP Housing Counselor Portal, and new participants with HLP. Shares of GMAC LLC are trading at 0.04% higher today.
Don’t Miss: Is DuPont’s Stock a Buy at $50?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.