Pfizer, Ford Motor, Citigroup, Sprint Most Active Stock Volume Movers May 1st
Pfizer Inc. (NYSE:PFE): “The parties to Brigham Young University and Dr. Daniel Simmons v. Pfizer Inc. et al., a matter in the United States Court for the District of Utah, Central Division, announce that they have reached an amicable settlement on confidential terms. As part of the resolution, BYU will establish the Dan Simmons Chair in recognition of Dr. Simmons’ lifelong work and contributions towards advancing human health in a number of important areas including oncology, pain and Alzheimer’s. We are pleased to resolve this matter and the uncertainty of litigation and to be in a position to support Dr. Simmons’ research efforts at BYU.”
Ford Motor Company (NYSE:F): The Chinese cabinet said that it would seek to increase the country’s imports of advanced technology and equipment, along with imports of key components and parts, and “resources and raw materials,” according to Xinhua.
Citigroup Inc. (NYSE:C): FINRA announced that it has sanctioned Citigroup Global Markets (NYSE:C), Morgan Stanley (NYSE:MS), UBS Financial Services (NYSE:UBS) and Wells Fargo Advisors (NYSE:WFC) a total of more than $9.1M for selling leveraged and inverse exchange-traded funds without reasonable supervision and for not having a reasonable basis for recommending the securities. The firms were fined more than $7.3M and are required to pay a total of $1.8M in restitution to certain customers who made unsuitable leveraged and inverse ETF purchases. In settling these matters, the firms neither admitted nor denied the charges, but consented to the entry of FINRA’s findings.
Sprint Nextel Corporation (NYSE:S): Louisiana pension sues Sprint after tax suit in New York, Bloomberg says.
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