Nokia SHIFTS Lumia Production and 4 Heavily Traded Shares To Notice Today
Bank of America Corp (NYSE:BAC): One reason for Bank of America Corp.’s (NYSE:BAC) conference call, is that analysts are unable to decipher the bank’s earnings. Chief Financial Officer, Bruce Thompson blames the decline in both consumer and business loans as well as runoff in real estate. Since new hires, in delinquent mortgage servicing, are backed out, their total headcount is off 4% Y/Y, but down 8%. The company confirms it is being questioned by regulators over Libor. Their shares are -1.7%.
Don’t Miss: Bank of America Earnings CHEAT SHEET.
Intel Corporation (NASDAQ:INTC): Thanks to Intel’s (INTC +3.7%) better-than-feared second quarter report and guidance, chip stocks are staging a big rally (SOXX +3.5%). Deutsche and Credit Suisse think Intel is setting the bar low for 2012, while other firms are worried about macro conditions, a strong dollar, and a slowing emerging market growth. However, UBS expects to raise their server CPU and Ultrabook sales to keep margins healthy.
Nokia Corporation (NYSE:NOK): Nokia (NYSE:NOK) has shifted much of its Lumia 900 production to Argentina. According to The Next Web, it is unclear as to whether they are raising or lowering production.
American Capital Agency Corp. (NASDAQ:AGNC): American Capital Agency (NASDAQ:AGNC) priced its 32M secondary, estimating gross proceeds of $1.09B, suggesting a price of about $34, roughly16% above book value. Pre-market shares are -3.2% .
VIVUS, Inc. (NASDAQ:VVUS): After VIVUS obtained FDA approval for their anti-obesity drug, Wells Fargo fears that the company faces challenges that are related to reimbursement, a restrictive distribution network, and actual patient compliance. The firm does not recommend putting new money to work in VIVUS’ stock today, and it maintains a Market Perform rating on the shares.
Don’t Miss: Vivus BREAKTHROUGH Opens Up the Obesity Market.
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